Mortgage Bankers Association

The Mortgage Bankers Association raised its refinance projections for 2020, a move precipitated by an application volume increase of 55.4% from one week earlier.

Mortgage credit availability dropped slightly in February, making three consecutive months of tightening, but that streak will likely end with falling interest rates, the Mortgage Bankers Association said.

Mortgage application volume increased 15.1% from one week earlier, and with interest rates still falling, even higher refinance demand is probable in the short term, according to the Mortgage Bankers Association.

Investors' purchases of 10-year Treasurys after the Fed's 50 basis point short-term rate cut drove the yield below 1% for a period of time.

Any impact from the coronavirus outbreak on commercial and multifamily loan delinquencies won't be known for some time, the Mortgage Bankers Association said.

Servicers' struggle to retain borrowers mounted in the fourth quarter when a type of loan that is tough to recapture rose to a more than 10-year high, according to Black Knight.

Fears stemming from the coronavirus have resulted in lower mortgage rates and more business for now, but if the situation deteriorates further, consumers could decide to put off buying a home.

Ginnie Mae in 2020 is going to seriously examine what it would take to respond to a longstanding, priority request of its issuers.

Distressed mortgage servicing costs are falling and that's primarily due to the market's stability, but it also reflects improved efficiencies that may help in a weaker economy.

Mortgage application volume rose last week, but with the 10-year Treasury yield tanking in recent days, growth in refinancings for the current period is quite likely, according to the Mortgage Bankers Association.