Items Tagged with 'refi'

ARTICLES

  • Fannie Mae and Freddie Mac are refinancing fewer mortgages than at any point since the crisis

    Where have all the refis gone?
    Recently released data from the Federal Reserve Bank of New York’s Center for Microeconomic Data revealed that the first quarter of this year was the mortgage business’ worst quarter in more than four years, but a deeper dive into the data shows that on the refinance side of things, it may have been the worst quarter since the financial crisis.
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  • Ginnie Mae considering changes to VA loan rules as refinances continue to soar

    Requests industry input on prevalence of VA cash-out refinances
    For more than 18 months, HUD, Ginnie Mae, and the VA have been investigating whether certain lenders are aggressively targeting service members and military veterans for quick and potentially risky refinances of their mortgages. Ginnie Mae even went so far as to issue new rules for VA loan refinances, restricting how soon a loan could be refinanced after its original origination date. And while Ginnie Mae says that those changes have made a positive impact, the agency is also now stating that more changes may be necessary to get the pervasiveness of VA loan refinances under control.
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  • Quicken Loans will now let Vrbo hosts use rental income to refinance their mortgage

    Income generated by short-term rentals will be used in underwriting
    A little over a year ago, Airbnb partnered with some of the nation’s largest mortgage players, including Fannie Mae and Quicken Loans, to allow hosts using the short-term rental platform to use income from their rentals to refinance their mortgage. Now, Quicken Loans is at it again; this time partnering with Vrbo to allow users of that platform to use rental income earned through that short-term rental platform to refinance their mortgage.
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  • Hello refis? Mortgage rates just had the largest one-week drop in 10 years

    Interest rates haven't been this low since January 2018
    Just over six months ago, it appeared that refinance demand had all but dried up thanks to mortgage interest rates that were pushing past 4.5%. But my how the tables have turned. According to newly released data from Freddie Mac, mortgage rates just experienced the largest one-week decline in a decade.
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  • Is the refinance market bouncing back? Number of refi candidates jumps 75%

    Refinance demand dried up in the last year, but could a comeback be afoot?
    Refinance demand has essentially dried up in the last year, but could things finally be turning around? Maybe, according to the latest data from Black Knight, which revealed that there are now 3.27 million homeowners who could reduce their mortgage rate by at least 0.75% by refinancing their mortgage. That's the greatest number of potential refi candidates since January 2018.
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  • Refi market potential jumps 50% in two months

    2.9 million homeowners now have incentive to refinance
    A recent decline in interest rates has increased refinance incentive by 50% in two months as one million more homeowners could now benefit from a refi. According to the latest data from Black Knight, there are now 2.9 million homeowners who could reduce their interest rates by at least 0.75% by refinancing their mortgage. But will increased incentive for more borrowers translate to more volume?
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  • Looking for the best time to refinance? Wait until 2020

    Interest rates to dip substantially
    “Both the consensus and financial markets are coming around to our view that the Fed will cut interest rates in 2020, but we still think they are underestimating how soon and how fast the Fed’s policy cycle is likely to turn,” said Capital Economics in a note to clients.
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  • Capital Economics: Mortgage apps likely stuck in a rut in 2018

    Interest rate hikes not helping
    Home purchase demand remains largely unchanged since 2016, according to a report from Matthew Pointon, a property economist at Capital Economics. That, couple with persistently low property inventory and looming rate hikes mean mortgage app performance next year is set to “meh.”
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