Items Tagged with 'refinance activity'

ARTICLES

  • Goodbye refi: Rising interest rates all but erase refinance demand

    Purchase loans now make up nearly 75% of all mortgages
    While mortgage interest rates dipped ever so slightly in the last week, they’ve been trending up for the majority of this year. And it appears that the consistent rise in interest rates this year has all but dried up refinance demand. Is it time to say goodbye to refis for a while? It certainly looks that way.
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  • Wells Fargo: Ginnie Mae warning on VA loan churning is just the beginning

    Analysts expect oversight of VA refinances to intensify
    On Thursday, Ginnie Mae laid down the law, so to speak, in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. But according to analysts from Wells Fargo, Ginnie Mae’s threat of booting lenders from its bond program will not be the agency's last move in its effort to clean up VA loan churning.
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  • Ginnie Mae threatens to boot lenders from bond program over VA loan churning

    Steps up fight against lenders targeting veterans for quick refinances
    Ginnie Mae is turning up the heat in its fight against a segment of mortgage lenders that are aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae is now threatening a small number of lenders with expulsion from its primary mortgage bond program if the lenders do not address the issue.
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  • Bipartisan group of senators seek more “predatory” lending protections for veterans

    Lenders would be required to show “material benefit” for VA refinances
    Over the last few months, Ginnie Mae and the Department of Veterans Affairs began looking into a segment of mortgage lenders that were aggressively targeting servicemembers and military veterans for quick and potentially risky refinances of their mortgages. But a bipartisan group of senators think both the VA and Ginnie Mae need more legal authority to stamp out the problem entirely.
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  • Wells Fargo: Here’s the impact of HARP extension, GSEs’ new high-LTV refi program

    Eligibility rules of refi program will limit scope
    After several delays, the government’s crisis-era Home Affordable Refinance Program was finally set to expire next month, until the Federal Housing Finance Agency announced Thursday that it’s extending the HARP deadline until the end of 2018. So what’s the impact of the change? Not much, unless there’s another housing crisis, Wells Fargo said in a new report.
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  • Attom: Refinance originations fell to 10-year low in 1st quarter

    Overall origination volume by dollar amount drops to three-year low
    Mortgage rates may sit at a yearly low right now, but earlier in the year rates sat well north of 4%, and that drove first-quarter refinance originations to the lowest level in 10 years, a new report from Attom Data Solutions shows. Here's a full breakdown of Q1's loan data.
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  • MBA: Refinance applications fall to eight-year low

    Mortgage applications fall back for second straight week
    The share of mortgage applications for refinances just fell to a level not seen since October 2008, new data from the Mortgage Bankers Association showed. According to the MBA’s latest Weekly Mortgage Applications Survey, the refinance share of mortgage activity declined to 44% percent of total applications, the lowest that figure has been in more than eight years.
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  • Ellie Mae: Interest rates on closed loans rise to 16-month high

    Rising interest rates drove down refinance originations
    The average interest rate for 30-year, fixed-rate mortgages rose to a 16-month high in February, according to the new data from Ellie Mae. The increase in interest rates depressed the refinance market, as the report showed that the share of purchase mortgages closed rose to 57% in February. That’s the largest that figure has been since July 2016.
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  • Freddie Mac: Mortgage market soaring in 2016, will fall back in 2017

    Time to get while the getting's good
    Freddie Mac continues to believe that mortgage lending is on track for a big year this year, but now expects the market to tap the brakes in 2017. But it won’t be purchase mortgage originations that will drag down 2017’s origination total, as purchase and home improvement mortgage activity is actually expected to rise next year. According to the Freddie Mac report, next year’s drop will be driven by a significant decline in refinances.
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