Items Tagged with 'refinances'

ARTICLES

  • This is how long it takes to close a mortgage now

    Study shows closing times are steadily declining
    A recent survey highlighted homebuyers' frustrations, revealing that nearly half felt it takes too long to get a mortgage. But according to a new study from LendingTree, things are trending in the right direction, as the average closing time has fallen by a sizable 34 days in the last two years. This is how long it takes to close a purchase loan and a refinance right now.
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  • More borrowers are raising their mortgage rate to cash out equity

    Cash-outs comprise greatest share of refinances since 2006 peak
    For several months now, cash-out refinances have been eating up a greater share of overall refi volume, and it appears the trend isn't about to slow down anytime soon. The latest report from Black Knight reveals that 82% of refinances originated in Q4 2018 were cash-outs, and that in two-thirds of these transactions, the borrower raised their mortgage rate in order to access their equity in cash.
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  • Mortgage lender optimism grows as borrower demand heightens

    Although lender outlook fell 8% in Q1, it's a significant improvement from the previous quarter
    In the first quarter of 2019, Fannie Mae's Mortgage Lender Sentiment Survey revealed the net profit margin outlook for mortgage lenders retreated 8% from the previous quarter. Fannie Mae Senior Vice President and Chief Economist Doug Duncan said lenders appear less pessimistic regarding mortgage demand expectations; thus their profit margin outlook over the next three months is also slightly improved.
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  • Here’s why the housing market should expect a cash-out refi boom

    High levels of equity and falling rates have experts predicting a surge in cash-outs
    Equity levels are climbing while mortgage rates are falling, and this has some predicting an inevitable boom in cash-out refinances. Capital Economics says the number of cash-outs will reach a 10-year high in the next couple of years. But before warning bells sound for those who remember the role cash-outs played in the collapse of the housing market, keep in mind that mortgage lending and consumer attitudes have changed since the mid-2000s.
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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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  • This is where seasoned LOs see the biggest opportunity

    Survey reveals trends and challenges impacting mortgage origination
    Most mortgage originators are worried that loan production expenses will increase while volume will decline, and they’ve pinpointed five areas of the market they think present the most opportunity in the year ahead. Here's what they said.
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  • More mortgage borrowers now have incentive to refinance

    2.4 million homeowners can cut their interest rates by 0.75%
    While refinance volume has dropped off in recent years as interest rates have inched upward, incentive to refinance has returned for some homeowners. According to the latest from Black Knight, about 550,000 more borrowers could lower their mortgage payments by refinancing, meaning that about 2.4 million borrowers can now use a refi to reduce their interest rates by 0.75%.
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