Items Tagged with 'mortgage applications'

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  • MBA: Mortgage applications fall 3%

    5/1 ARMs reverse course this week, falling 4.07%
    Mortgage applications decreased 3% from last week, and the USDA share of total applications remained unchanged at 0.8%, according to the latest data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey.
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  • Pen pals with your mortgage lender? Yeah, it's a thing

    Life is complicated. When underwriters have questions, they might reach out to you
    Did you know that underwriters often reach out to borrowers via letter? According to a piece in the Wall Street Journal, borrowers shouldn’t be surprised if they are asked to provide a letter of explanation or “comfort letter” to underwriters who are curious about mushy spots in their knowledge of the borrowers’ situations.
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  • MBA: Mortgage applications fall 2.6%

    5/1 ARMs increase to record high
    Mortgage applications decreased 2.6% from last week, according to data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey for the week ending July 27, 2018. Notably, the average contract interest rate for 5/1 ARMs increased to 4.17% this week, which is its highest level in survey history.
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  • MBA: Mortgage applications reverse course in July, increase

    Average contract interest rate for 5/1 ARMs reach highest survey level
    Mortgage applications increased 2.5% from last week, and the average contract interest rate for 5/1 ARMs increased to its highest level in market survey history, according to data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 6, 2018.
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  • Tight Lending Standards Hindering Housing Recovery

    As the housing market struggles for footing and on-going regulation reform, mortgage lenders continue to maintain cautious lending practices that may be hindering the market's ability to foster any positive momentum toward recovery.   According to a report by The Wall Street Journal, the nation's 10 largest mortgage lenders rejected 26.8% of mortgage applications in 2010.  This is a 3.3% increase over 2009.  The increase is leading some economists to argue that lending standards are now too conservative making difficult for some qualified borrowers to obtain loans. "As the noose on credit availability tightens, credit is being choked off
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