Items Tagged with 'refis'


  • Cash-out refis haven’t been this prevalent since the financial crisis

    But unconcerned experts say borrowers are extracting less equity than before
    The volume of cash-out refinance loans hasn’t been this high since 2008, but experts at the Urban Institute say that when put into context, there’s no cause for alarm. “In an environment of home price appreciation, people commonly tap into their home equity,” the authors wrote, adding that the total amount of equity cashed out is well below pre-crisis totals.
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  • 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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  • MBA: Mortgage applications can't seem to get ahead

    Refinance Index drops to lowest level in 18 years
    Mortgage applications fell 1.8% from last week, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending September 7, 2018. On an unadjusted basis, the Mortgage Composite Index decreased 13% from the previous week.
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  • HARP refis dwindling as homeowners gain equity

    Loan-to-value ratios continue to shrink
    The Home Affordable Refinance Program continues to shrink, making up just 1% of total refinance volume in the second quarter. And as the program grows closer to expiring at the end of this year, the FHFA shows there are still many borrowers eligible for a HARP refi.
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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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  • MBA: Lender profits to hit negative numbers in Q1

    Refi market served as blanket for seasonality drops
    It’s no secret mortgage refinance volumes are falling, leaving lenders to make up for the loss through purchase mortgages. Profit margins are expected to go negative in the first quarter as the blanket that helped with seasonality drops is now being lifted.
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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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  • Millennial refis rise to highest level since February

    Share of FHA refinances increasing
    Refinances for Millennial buyers increased in September to the highest level since February as mortgage rates dropped. However, one expert explains why one segment of Millennial borrowers will continue to increase their refinance share even after rates begin rising once again.
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  • Closing rates in August hit highest point since January

    Refis held steady despite interest rate increase
    Ellie Mae’s latest Origination Insight Report showed much of the loan origination data held steady from July to August. However, closing rates increased during the month to their highest point since the beginning of this year. Here’s the full rundown.
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  • Purchase lending hits 10-year high as refis sink to 16-year low

    Originations jump 20% in second quarter
    During the second quarter of 2017, purchase lending hit its 10-year high even as refis sank to a 16-year low. But while purchase lending is up significantly, Black Knight explained the lending market is still performing below its peak capacity. The company explained why the purchase market is operating at less than two-thirds of peak capacity.
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