Drop in Mortgage Rates Likely to Hold
|ARMs Defy Overall Weekly Mortgage Slump|
Although a week-over-week decline in new mortgage business was mostly across-the-board, adjustable-rate mortgage activity rose -- with ARM share at its widest in over a year.
Interest rates on residential loans were solidly lower over the past seven days. Rates are likely to refrain from moving much over the next seven days.
For Sale: MSRs on Over $1 Bil in Ginnie Loans
Mortgage servicing rights on more than $1 billion in Ginnie Mae loans with a Texas concentration are being marketed for sale.
Small Portfolio of Agency MSRs Being Auctioned
A small portfolio of mortgage servicing rights on loans backed by the housing finance agencies has just hit the market. The loans have a Florida concentration.
MSRs on Over $1 Bil in Ginnie Loans for Sale
Bids are being taken for mortgage servicing rights on more than $1 billion in Government National Mortgage Association loans.
HUD Selling Vacant Property Loans
Single-family loans secured by vacant properties are being offered for sale by the Department of Housing and Urban Development.
Freddie Boosts Refinance Outlook on Lower Rates
A significant improvement in the forecast for refinance production has been made by Freddie Mac thanks to falling rates. Even expected purchase lending increased.
Mortgage Refi Applications Jump, Purchases Dip
As interest rates on home loans declined to a six-month low, weekly applications for mortgage refinances accelerated. But purchase financing activity was weaker.
HUD Budget Includes New FHA Administrative Fee
The Department of Housing and Urban Development's proposed budget includes a new administrative fee on government-insured mortgages to fund technology updates.
FHA Originations Rising, Delinquency Tumbles
The monthly volume of home loans insured by the Federal Housing Administration turned higher, and a further increase is on the way. Delinquency, meantime, sank.