Refinance

Refinance application activity last week was the highest in nearly seven years, with more than triple the volume from one year ago, according to the Mortgage Bankers Association.

Forget about Edina, Arden Hills and other coveted communities. A flight to affordability is upending the housing market in the Twin Cities.

A larger percentage of newly originated mortgages to millennials shifted toward purchase loans as interest rates stayed low, according to Ellie Mae.

The strong refinance market in the fourth quarter propelled earnings at three different mortgage-related business that also were dealing with merger and acquisition activity during and after the period.

The U.S. mortgage insurance business remained a bright spot for Genworth Financial, as fourth quarter adjusted operating income increased 29% and new insurance written rose nearly 95% over the prior year.

Mortgage application volume increased 5%, led by refinancings, as interest rates continued to fall on fears that the coronavirus was spreading in China and elsewhere, according to the Mortgage Bankers Association.

Mortgage refinancings made up slightly under one-third of MGIC Investment Corp.'s new insurance written during the fourth quarter, contributing a significant percentage of its business.

With steady home price appreciation and falling interest rates, by some measures the shares of distressed mortgages existing in the market shrunk to record lows, according to Black Knight.

A 10-basis-point year-over-year increase in gross margin on loans sold, along with a nearly 30% increase in origination volume, helped Waterstone Mortgage turn around its fourth-quarter results.

Many American homeowners count on the equity in their property to help fund their retirement years, but they might be overconfident by relying on that, according to Unison.