What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Mortgage

MBA: Mortgages applications reverse trend, drop

30-year, FRM falls four weeks straight

Mortgage applications fell 2.6% from one week earlier after three weeks of steady increases, the Mortgage Bankers Association’s weekly mortgage applications survey for the week ending Jan. 29 said.

Last week’s results included an adjustment for the Martin Luther King holiday.

The refinance index slightly increased 0.3% from the previous week, moving to its highest level since October 2015, while the seasonally adjusted purchase index declined 7% from one week earlier.

As a whole, the refinance share of mortgage activity increased to 59.2% of total applications from 59% the previous week. On the other side, the adjustable-rate mortgage share of activity decreased to 5.9% of total applications.

The Federal Housing Administration’s share of total applications increased to 12.9% from 12.7% the week prior. The Veteran Affair’s share of total applications stayed the same at 11.1%. The United States Department of Agriculture’s share of total applications also stayed the same at 0.7%.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) dropped to its lowest level since October 2015, falling to 3.97%, from 4.02%. This is the fourth straight weekly decrease for this rate.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to 3.84 percent from 3.89% last week. This is the fourth straight weekly decrease for this rate and marks its lowest level since April 2015.

The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA decreased to 3.80 percent from 3.83%

The average contract interest rate for 15-year fixed-rate mortgages decreased to 3.22 percent from 3.28 percent, while the average contract interest rate for 5/1 ARMs dipped to 3.00% from 3.09%.

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