Top markets for affordable renovated housing inventory

Despite the rapidly deteriorating affordability, there is some hope for homebuyers in the form of renovated homes: properties that have been rehabbed into move-in ready condition after being purchased at auction.

HousingWire Magazine: December 2021/ January 2022

AS WE ENTER A NEW YEAR, let’s look at some of the events that we can look forward to in 2022. But what about what’s next for the housing industry?

Back to the Future of Mortgage Lending

This webinar will be a discussion on understanding what’s to come in the future of mortgage lending by analyzing past trends in the industry, evolving consumer behaviors and demographics of the industry’s production capacity.

Logan Mohtashami on Omicron and pending home sales

In this episode of HousingWire Daily, Logan Mohtashami discusses how the new COVID variant, Omicron, will impact inflation and whether or not it will send mortgage rates lower.


MBA: Mortgage applications reverse course

Decline amidst spring home-buying season

It was a tough week for mortgage applications, as the latest report from the Mortgage Bankers Associations reveals that the usual highs of the spring home-buying season are not there.

Mortgage applications decreased 4.1% from one week earlier for the week ending April 22. While the last mortgage rate report showed a humdrum week for mortgage applications, it was coming off of the previous week’s high.

The Refinance Index fell 5% from the previous week, as the seasonally adjusted Purchase Index decreased 2% from one week earlier.

The refinance share of mortgage activity is also backing away from its once increasing trend and instead decreased to 54.4% of total applications from 55.4% the previous week. In addition, the adjustable-rate mortgage share of activity increased to 5.2% of total applications.

The Federal Housing Administration’s share of total applications grew to 12.3% from 10.6% the week prior. The Veteran Affairs’ share of total applications dropped to 12.2% from 12.6% the week prior, while the United States Department of Agriculture’s share of total applications remained unchanged from 0.8% the week prior.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) grew to 3.78% from 3.77%.

Similarly, the average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 3.66% from 3.64%.

The average contract interest rate for 15-year fixed-rate mortgages increased to 3.09% from 3.06%, while the average contract interest rate for 5/1 ARMs increased to 3.02% from 2.91%. 

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