Refinance

With over 4 million millennials entering prime home buying age each year through 2023, purchase activity will be driven much higher, according to Ellie Mae.

Rates are forecasted to remain at the current low levels for the rest of 2020, driving steady refinance volume.

Record-low interest rates allowed homebuyers to purchase $32,000 more house for the same monthly payment compared to last July, boosting affordability to the highest level since 2016.

The combined impact of coronavirus forbearance periods ending while low rates persist means large workloads for title insurers, appraisers and others.

While low interest rates drove up new insurance written, the increased defaults stymied overall performance.

The government-sponsored enterprise reported net earnings of $2.55 billion, up from $461 million in the first quarter.

The annual survey and ranking of mortgage servicers found that while trust is increasing, borrowers were frustrated with some digital interactions and long wait times with call centers.

But refis bring overall mortgage application fraud risk back to its record low, First American said.

Mortgage applications decreased 0.8% from one week earlier as the latest spread of COVID-19 weighed on the minds of consumers looking to buy or refinance, according to the Mortgage Bankers Association.

CoreLogic said more refinancings and fewer investor purchase mortgages drove its index down to a level last reached in the third quarter of 2010.

Almost six in 10 completely agreed that company-provided technology met or exceeded their expectations.

The company lost $8.9 million in the second quarter, but its origination and servicing businesses were profitable.

Mortgage applications increased 4.1% from one week earlier as consumers continued to pursue both purchases and refinancings even as conforming rates rose from their record lows, according to the Mortgage Bankers Association.

Planet Home Lending took advantage of coronavirus volatility and low mortgage rates to increase its funding volume.

The Federal Housing Finance Agency will extend the same GSE benchmarks of the past three years into 2021.

Strong growth in refinance volume following several weeks of so-so activity drove a 5.1% week-to-week increase in mortgage applications, according to the Mortgage Bankers Association.

However, those who aren't current bank customers need to have $1 million in a qualifying account.

The current refinancing boom might seem like the worst time to buy leads, but for some, it may be the best.

Booming refinancing is expected to more than offset the tighter underwriting in second-quarter mortgage results.

For the first time in three weeks, mortgage application volume increased, this time by 2.2%, as purchase activity was up in a holiday-shortened week, according to the Mortgage Bankers Association.