Items Tagged with 'Refinancing'

ARTICLES

  • Fannie Mae: Declining mortgage rates propel nation’s home buying outlook to new high

    Expert says America’s favorable rate environment will continue to support refinance activity
    In August, American housing confidence increased slightly as more consumers expressed optimism regarding the nation’s falling mortgage rates, according to Fannie Mae’s Home Purchase Sentiment Index. According to the GSE’s report, sentiment ticked up by 0.1 point to 93.8 in August. Not only is this up 5.8 points from last year’s rate, but it also marks a new survey high.
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  • Homeowner "tappable equity" reaches an all-time high of $6.3 trillion

    Americans are sitting on a boatload of cash
    Tappable equity reached an all-time high of $6.3 trillion in the second quarter as home-price gains made real estate more valuable. The amount of equity homeowners could borrow against before hitting the 80% loan-to-value limit imposed by most lenders rose by $335 billion during the three-month period, according to Black Knight. The new record high is 26% above the 2006 peak in the midst of the housing bubble.
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  • How rate sensitive are borrowers? Slight uptick in interest rates leads to decline in mortgage applications

    MBA report shows mortgage applications fell in last week
    Are mortgage borrowers sensitive to small movements in interest rates? Recent data shows that refinances are on the rise thanks to low interest rates, but what happens if mortgage rates start to move back up? Will that demand dry up just as quickly as it appeared, even if rates only pick up by a few basis points? It appears that may be the case, as new data from the MBA shows that mortgage applications fell for the second straight week as mortgage rates increased for the first time in more than a month.
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  • Maybe low rates aren’t a panacea? Fitch throws cold water on presumed mortgage lending boom

    Analysts cast doubt on positive impact of low rates on housing market
    With mortgage rates holding steady near three-year lows for several weeks, some observers began suggesting that there could be a surge in mortgage lending industry. And while recent data suggests refinances are rising as expected, could low interest rates not be the cure-all that many believed they would be for a mortgage market that was expecting a down year? One observer certainly thinks so.
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  • MBA lowers rate forecast and boosts lending outlook

    Mortgage Bankers group predicts mortgage originations will gain 15% from last year
    Mortgage Bankers Association issued a new forecast that predicts the U.S. rate for a 30-year fixed mortgage will average 3.7% in the third and fourth quarters of 2019, down from the 3.9% the group predicted for the same periods a month ago. Lower mortgage rates will boost loan originations 15% compared to last year, according to the forecast issued on Friday.
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  • Nearly 10 million borrowers could lower their mortgage rate by 0.75% by refinancing right now

    Black Knight report shows borrowers' average monthly savings would be $267
    Just three days ago, data from Black Knight showed that 8.2 million borrowers could save big on their mortgages thanks to the recent decline in mortgage interest rates, but rates have continued to fall all week. Now, the number of borrowers that could benefit from a refinance has jumped to nearly 10 million.
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  • Ginnie Mae removes loanDepot's VA loan restrictions

    Reinstates lender's ability to participate in all bond programs
    After nearly six months of being restricted from participating in some of Ginnie Mae’s mortgage bond programs as part of the agency’s crackdown on lenders for Department of Veterans Affairs loan churning, loanDepot is back in the game. Ginnie Mae announced Friday that it has removed the mortgage bond restrictions it placed on loanDepot earlier this year.
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  • 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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  • Bring on the refis: Freddie Mac expects mortgage rates to remain low all year

    The 30-year fixed-rate mortgage is projected to average 4.3% in 2019
    Low mortgage rates are expected to boost homebuyer affordability for the remainder of 2019, according to Freddie Mac’s April Forecast. In fact, Freddie Mac Chief Economist Sam Khater said low mortgage rates and stronger wage growth translate into better home sales in the coming months, along with better than expected refinance activity for the rest of the year.
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  • Black Knight: Interest rate drop led to flood of mortgage prepayments in March

    Prepayments see largest single-month increase in more than two years
    Mortgage interest rates dropped throughout the month of March, culminating in interest rates closing out the month with the largest single-week decline in 10 years. As of the end of March, mortgage rates were at their lowest point since January 2018. And as one might expect, that drop in mortgage rates led to a massive increase in mortgage prepayments in March, according to a first look at March’s mortgage data from Black Knight.
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