Refi Share Deflates as Rates Inflate
As mortgage rates pushed higher, monthly refinance share continued to deflate. Compared to a year ago, conventional share grew at the expense of government share.
Mortgage Demand Down at Big Banks, Up at Small
Although demand for several single-family products has softened at larger financial institutions, smaller ones are seeing growing demand -- especially on non-agency loans. It was similar for commercial real estate.
Conventional Mortgage Credit Eases as Gov Tightens
Although prospective borrowers seeking conventional mortgages had an easier time qualifying for a loan last month, government conditions tightened. Jumbo activity had the biggest bounce.
Consumer Bankruptcies Retreat Following Surge
After soaring in March, the number of consumers who filed a new case with U.S. Bankruptcy Courts last month was down 8 percent. Year-over-year, though, was worse.
Mortgage Credit Standards Becoming Too Loose?
Recent escalation in the rate of delinquency on loans insured by the Federal Housing Administration has credit standards for government and conventional mortgages being debated.
Risk Layering, Credit Scores Stable on RMBS
Post-crisis securitized home loans have performed well as risk layering and credit scores have remained constant. But growing cashout share is a concern.
Mortgage Originations Shift from FHA to Conv
Compared to a year ago, conventional share has increased at the expense of government-insured share. Rising rates are impacting refinance share and, in turn, closing times. Credit scores tightened.
Consumer Bankruptcies Surge to Highest Level in Year
It has been a year since the number of consumers who resorted to bankruptcy was as high as it was last month. Rising rates could strain consumers.
Mortgage Credit Tightest in 13 Months
The availability of credit for people desiring to finance a residential property was the lowest it's been in more than a year. Leading the contraction were government programs.
Mortgage Closings Speed Up as FHA Share Falls
As government-insured mortgage share has diminished over the past year, the time to close has shortened. But it has become slightly more difficult to qualify for a home loan.