Articles Tagged with ''Interest rates''

UWM: Brokers hurt least by rising interest rates

Here’s why
As interest rates continue to rise, refinances are decreasing, merger and acquisition activity is picking up, and many mortgage lenders are struggling with a decrease in lending activity. However, United Wholesale Mortgage explained that mortgage brokers will be the least affected by these increasing interest rates.
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What would happen to mortgage lending if interest rates doubled?

It happened once before in the 80s, remember?
[Op-ed] At its most extreme point in 1980, mortgage rates experienced a 50% year-over-year increase. What would happen to home sales if the same, albeit unlikely, scenario were to occur again? First American Chief Economist Mark Fleming answers that question for our readers.
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Explaining the disconnect between the rate borrowers want, and can get

You may need to break the rates process down for them
Most quoted industry rates are for a hypothetical borrower with prime credit who makes a 20% down payment. Yet, most borrowers do not fit this profile and often experience disappointment when the rate on their loan turns out to be meaningfully higher than what they believed prevailing rates to be. Many loan officers have likely experienced having to explain this discrepancy to borrowers with varying degrees of success.
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Thousands of mortgage lending jobs at risk as refis drop

Refinances prepare for lowest level since 2000
Thousands of lending jobs are now at risk as the number of refinances continue to fall, threatening to sink to their lowest level since 2000. One expert said overall mortgage originations could see a decrease of 15% to 20%, leading to a job loss of about 10% within the mortgage industry.
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Freddie Mac: Mortgage rates hit highest level since December 2016

Continue steady climb that began in January
Mortgage interest rates now sit at the highest level in more than a year, thanks to five straight weeks of increases. The latest data from Freddie Mac’s Primary Mortgage Market Survey shows the 30-year fixed mortgage rate just hit its highest mark since December 2016.
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Expect first Federal interest rate rise to come in March

Market places 77% chance of 25 basis point hike
Wednesday afternoon, the Federal Reserve announced its decision not to raise the federal funds rate in January. After the Fed Funds futures pushed up their probability estimate for raising the federal funds rate in March, the market is now placing a 77% chance of a 25 basis point hike.
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2018 will see refis plummet as interest rates increase

Rates expected to rise 90 basis points by end of year
At the NEXT 2018 women’s mortgage tech conference in Dallas, Texas, CoreLogic predicted the direction of mortgage rates in the upcoming year, and the consequences it will bring. CoreLogic’s principal economist explained, “One thing we know that’s happening is mortgage rates are going to go up.” Here’s what that will mean for lending in the year to come.
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Freddie Mac: Mortgage rates exceed 4% for first time since July

Is this goodbye to interest rates in the 3% range?
Mortgage rates continued rising in the last week, eventually breaching 4% for the first time since last summer, according to Freddie Mac’s latest Primary Mortgage Market Survey. Interest rates are also the highest they’ve been since May 2017. Here are the full details.
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