How far can lenders push the credit box?

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers

Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
W S
Lending / The Ticker

Mortgage apps inch up 5.5%

Increase breaks a period of stagnation

house

Mortgage applications inched up 5.5% from a week earlier, the Mortgage Bankers Association said this week. This comes after last week's significant jump after weeks of little movement.

Furthermore, both the refinance and purchase index rose 5% from the previous week.

As a whole, the refinance share of mortgage activity stayed frozen at 61% of total applications.

The average contract interest rate for a 30-year, fixed-rate mortgage with a conforming loan limit fell to 4.62% from 4.75%.

Meanwhile, the 30-year, FRM jumbo dipped to 4.66% from 4.83%.

The average 30-year, FRM backed by the FHA decreased to 4.32% from 4.50%, and the 15-year, FRM dropped to 3.68% from 3.81%. 

In addition, the 5/1 ARM plummeted to 3.39% from 3.55% a week earlier.

Recent Articles by Brena Swanson

Comments powered by Disqus