Mortgage Bankers Association

With mortgage rates falling to their lowest level in over a year, refinance volume drove this week's increase in application activity, according to the Mortgage Bankers Association.

The Federal Housing Administration and Ginnie Mae will use their lagging digital mortgage positions to their advantage as they put an emphasis on building their technology.

While regulation and nonbank competition are spooking some banks, others believe low funding costs and the right relationships can help them succeed.

The era of plentiful refinance volume is over for the foreseeable future, because mortgage rates remained in a very narrow band for the past decade, said Mortgage Bankers Association Chief Economist Mike Fratantoni.

Mortgage rates descended through the onset of spring's home buying season, pushing up the share of refinance loans and volume of new-home purchase applications, according to Ellie Mae and the MBA.

The trade dispute with China is likely to affect consumers' willingness to buy a home and apply for a new mortgage loan, according to the Mortgage Bankers Association.

Even though mortgage delinquencies increased on a quarter-to-quarter basis, strong overall metrics mitigate any concerns regarding future loan performance, according to the Mortgage Bankers Association.

Mortgage lending credit standards loosened a bit last month as investors displayed more interest in non-qualified mortgage and nonagency jumbo loans to stay competitive, according to the Mortgage Bankers Association.

An increase in purchase activity drove the week-over-week rise in mortgage application volume as homebuyers entered the market while interest rates fell, according to the Mortgage Bankers Association.

Nondepository mortgage companies cut another 1,500 workers in March as the housing market's peak season got underway, suggesting that even with business potentially picking up, lenders remain cautious about hiring.

Mortgage applications decreased 4.3% from one week earlier although concerns over the global economy resulted in falling interest rates, according to the Mortgage Bankers Association.

Remodeling activity stepped up in recent years as homeowners stayed put for nearly twice as long as before the housing bubble burst, but several forecasts point to a potential slowdown on the horizon, which is a welcome sign for the mortgage business.

Purchase mortgage applications, which until now were unaffected by the recent rise in interest rates, fell by 4% on a seasonally adjusted basis from last week, according to the Mortgage Bankers Association.

After a strong February, existing-home sales took a U-turn in March. While buyer conditions heat up and mortgage rates remained low, consumers took a patient approach — especially in the expensive West Coast markets.

Surging loan production expenses and low revenue killed profits in 2018 for loans originated by independent mortgage bankers and subsidiaries of chartered banks, according to the Mortgage Bankers Association.

Higher interest rates cut refinance mortgage application volume and reduced overall activity even as the purchase index reached a nine-year high, according to the Mortgage Bankers Association.

Multifamily and commercial lenders had another banner year in 2018, when closed-loan originations rose 8% to a high of $574 billion.

Mortgage application volume fell 5.6% from one week earlier as rising interest rates put an end to the recent surge in refinancings, according to the Mortgage Bankers Association.

Loan applications for newly constructed properties accelerated going into this year's peak home buying season, contrasting with the weakness seen in the market a year ago, according to the Mortgage Bankers Association.

Nondepositories in the mortgage business cut 2,900 more jobs in February, bringing industry employment to its lowest point in nearly three years.