An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Did you miss out on HousingWire Annual? We have you covered! Join us virtually on October 25 for a chance to see hand picked sessions from our in-person HousingWire Annual in Frisco. Register now for FREE!

How brokers can help today’s unique borrower

The average borrower has drastically changed throughout the years. More borrowers are self-employed, work remotely and have multiple streams of income. Learn about the tools to assist any borrower quickly and effectively.

Experts on how AI makes a difference in the mortgage process

Today’s HousingWire Daily features a roundtable discussion on “Humans versus really smart machines” and what the right mix looks like to gain efficiencies in the mortgage loan manufacturing process.

Mortgage

Mortgage apps inch up 5.5%

Increase breaks a period of stagnation

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.

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3d rendering of a row of luxury townhouses along a street

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