Home values and housing activity picked up across Southern communities, benefiting community banks in the region. But these trends are in large part due to the area's vibrant oil and gas industry and other economic indicators, the Office of the Comptroller of the Currency claimed in a new report.
Mortgage applications continue to fall, dropping 2.5% from a week earlier, as the average contract interest rate for a 30-year, fixed-rate mortgage with a conforming loan limit rose to 4.80%, the highest rate since April 2011.
"In our view, as treasury rates continue to climb, companies exposed to mortgage banking will face challenges maintaining gain on sale revenues, particularly institutions benefiting from mostly refinance activity," said Matthew Kelley, an analyst with Sterne Agee.
In what was the most competitive awards program to date, HousingWire is proud to recognize the professional accomplishments of 30 women -- spanning every sector of the U.S. housing economy. Read the stories of our 2014 honorees, and be inspired..
If fair housing bluster were an Olympic event, the podium would be crowded with politicians and corporate mouthpieces. The injustice that once provoked marches and protests now evokes photo-ops and press releases. But have things truly changed? Read More
The sweeping CFPB TILA-RESPA integrated disclosures roll-out will affect almost every residential mortgage loan application that is submitted to a creditor on or after this date. Here, industry expert Jerry Halbrook dives into a breakdown of the wide-ranging impact of the new rule. Read More