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

Mortgage applications rise 4.7%

Refinance share increases 10%

california

Mortgage applications continue to climb, rising 4.7% for the week ending Jan. 17, the latest report from the Mortgage Bankers Association said.

The refinance index also reported a 10% jump from last week, compared to the purchase index, which fell 4% from a week ago.

Overall, the refinance share of mortgage activity edged higher to 64% of total applications.

The 30-year, fixed-rate mortgage with a conforming loan limit decreased to 4.57%: the lowest level since November 2013.

In addition, the 30-year, FRM with a jumbo loan balance dipped to 4.57% from 4.58%, while the 30-year, FHA rate also dropped to 4.24% from 4.29%.

All three 30-year mortgage rates reached their lowest levels since November 2013, with the 15-year FRM decreasing to 3.68% from 3.72% a week earlier.

Meanwhile, the average contract interest rate for a 5/1 ARM fell to 3.23% from 3.28%.

Recent Articles by Brena Swanson

Comments powered by Disqus