Items Tagged with 'purchase mortgage'

ARTICLES

  • Joel Kan: 3% to 4% growth predicted for the purchase market

    Refinance market still slated to struggle
    The purchase market is due for a rebound, according to Joel Kan, MBA associate VP of industry surveys and forecasts. Kan told members of the audience in a Q&A session at MBA Annual that current macroeconomic trends should create a swell for the purchase market – good news for the flagging mortgage market.
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  • Cloudvirga launches new mobile POS product

    Aims to enhance efficiency in the lending process
    Cloudvirga launched a new mobile mortgage point-of-sales solution for loan originators and homebuyers in the purchase mortgage market. The Mobile POS is backed by the same tech that runs the Enterprise POS, which won Cloudvirga a HousingWire Tech100 award.
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  • 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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  • ARMCO: Mortgage critical defect rate decreases in Q3 2017

    Majority of defects occurred in borrower and mortgage eligibility
    As purchase mortgages shrank in the third quarter last year and refinances increased, the number of critical defect rates dropped, according to a new report from ACES Risk Management. Most of the defects occurred under the borrower and mortgage eligibility category.
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  • Ellie Mae: Share of purchase originations hits 6-year high

    May saw higher percentage of purchase originations than any month since 2011
    A recent report from the Mortgage Bankers Association showed that the refinance share of mortgage applications fell to the lowest level since September 2008 during the month of May. Now, a new report from Ellie Mae shows the results of the lack of refinance applications on mortgage originations.
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  • Fannie Mae: Lender optimism higher than ever

    But profit margins sink
    Consistent with the rest of the market, including builders and consumers, a new survey from Fannie Mae shows even lenders are hitting new survey highs when it comes to confidence in the economy. However, as the market shifts away from refinance mortgages, profit margin outlooks remain low among lenders.
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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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  • Refinance applications finally jump after weeks of historically low interest rates

    Is the message finally getting through?
    After weeks and weeks of historically low mortgage interest rates having little to no impact on the volume of refinance applications, it finally appears that consumers are getting the message about interest rates. According to a new report from the Mortgage Bankers Association, mortgage applications rose last week, with the increase coming entirely from refinance applications.
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