Articles Tagged with ''MBA''

MBA: Mortgage applications fall as mortgage rates tick up

The Market Composite Index retreats 5.6%
In what may be a sign of just how sensitive borrowers are to fluctuations in mortgage rates, the Mortgage Bankers Association revealed mortgage applications declined further for the week ending on April 5, 2019, following a slight uptick in mortgage rates.
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U.S. employment reverses course in March, rises by 196,000 jobs

Construction jobs moderately increase by only 16,000 jobs
The U.S. economy added 196,000 jobs in March, according to the latest Employment Situation Summary report from the U.S. Bureau of Labor Statistics. MBA Vice President of Economic and Industry Forecasting Joel Kan said although unemployment is still well below historical averages, growth in hourly earnings is good news for the housing market, as wage growth continues to more closely align with home-price gains.
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MBA: Mortgage applications surge thanks to plummeting interest rates

Market Composite Index climbs a whopping 18.6%
The recent precipitous drop in interest rates drove a sizable increase in mortgage applications for the week ending on March 29, 2019, according to the newest data from the Mortgage Bankers Association. MBA Vice President of Economic and Industry Forecasting Joel Kan said there was a tremendous surge in overall applications activity, as mortgage rates fell for the fourth week in a row – with rates for some loan types reaching their lowest levels since January 2018.
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Housing industry responds to Trump's calls for housing finance reform

Groups applaud president's official step toward instigating long-awaited change
On Wednesday, President Donald Trump signed a memorandum calling for an end of the conservatorship of Fannie Mae and Freddie Mac. The memorandum details programs and objectives that the government agencies are asked to analyze for reform, but it doesn't provide many other specifics. Absent concrete details for change, most groups in the housing space applauded the president's move as an necessary step toward instigating much-needed change.
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Mortgage profitability hits all-time low in Q4

Average net loss of $200 per loan
Mortgage originators hit rough waters as the cost to originate a loan soared in the fourth quarter – sending profitability to its lowest point ever. Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net loss of $200 for each loan they originated in the fourth quarter of 2018.
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MBA: Falling mortgage rates propel mortgage applications

Purchase and refinance applications jump 6% and 12%, respectively
Mortgage applications rose once again for the week ending on March 22 2019, according to the newest data from the Mortgage Bankers Association's weekly Mortgage Applications Survey. MBA Vice President of Economic and Industry Forecasting Joel Kan said the spring buying season is off to a strong start.
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