Items Tagged with 'MBA'

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MBA stands with Ben Carson as HUD secretary

Urges committee to approve nomination ASAP
With the day for Ben Carson’s hearing quickly approaching, the Mortgage Bankers Association penned a letter, urging Congress to approve the candidate as the new secretary of the U.S. Department of Housing and Urban Development. The MBA explains what Carson will bring to his new role, and why it wants Congress to approve him as quickly as possible.
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MBA: 30-year mortgage rate falls two weeks straight

Includes adjustment for New Year’s Day holiday
Coming out of the holidays and into the start of the year, the 30-year mortgage rate continued to decline after several weeks of record highs. The decline is a change from the record high set right before the end of 2017 when the 30-year fixed-rate mortgage increased to its highest level since May 2014.
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Mortgage applications sink over the holidays

To no surprise
Mortgage applications took a dive over the last two weeks as consumers focused on the holidays more than buying a home. Since last week marked the only week of the year that the Mortgage Bankers Association does not put out a mortgage application report, this week’s report covers a two-week period.
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MBA: Mortgage applications continue downward trend

Interest rates move even higher
At this point, it seems like mortgage interest rates are posting new records each week, with the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances reaching a new high, again. As a result, mortgage applications continue to disappear.
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MBA: New home sales rise 12% in November

But is it enough?
Mortgage applications for new homes increased in November thanks to continued improvements in the overall economy and job growth. However, there’s still a lot of room for growth. Lynn Fisher, MBA’s vice president of research and economics, explains what’s ahead for housing.
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Independent mortgage bank profits slowly trudge higher

Profits hampered by MSRs
While the increase isn’t as significant as last quarter’s rise, independent mortgage banks and mortgage subsidiaries of chartered banks still recorded a net gain on each loan they originated in the third quarter of 2016. It might not be extreme, but here are all the changes in mortgage banker profit in the 3Q.
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MBA CEO: GSE reform won’t make Trump’s shortlist

The fight for the MID
GSE reform made headlines again last week when Treasury secretary nominee Steve Mnuchin alluded to the Trump administration's plans for GSE reform. However, the plans are likely to stay just that — plans, according to an interview with Mortgage Bankers Associatoin CEO David Stevens. There are lots of other areas that Trump needs to focus on first, Stevens explained in an interview with HousingWire.
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