Record-low rates are helping transform the 15-year mortgage from a rarely used instrument into a popular option, especially for homeowners refinancing their loans. In November, 23% of refinance applications were for 15-year loans, according to theMortgage Bankers Association. That's up 51% from a year earlier.
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More and more Americans are choosing to rent instead of buy. With two single-family rental securitizations on the market at press time and more likely in the works, this new asset class has the financial market energized..
There are ways mortgage bankers can maintain reasonable profit margins while facing rapid volume changes, new mortgage rules and increasing investor requirements, writes industry expert David Green. Read More