2-Year Outlook for Home Lending Cut
The expected volume of residential loan originations has been cut by $56 billion for this year and next year. Last year's refinance estimate, meanwhile, has been boosted.
Housing Starts Strongest Since 2016 on Multifamily
As multifamily dragged down completed construction, it was responsible for pushing up new housing permits and driving housing starts to the highest level since 2016.
Mortgage Rates Jump to Nearly 4-Year High
|Purchase Mortgage Surge Overcomes Refi Slump|
New purchase-money lending activity accelerated this past week, lifting overall business despite that refinances slowed to the lowest level since last year. Adjustable-rate prospects grew.
Interest rates on residential loans continued to rise, this time to the highest level in nearly four years. The outlook is for continued escalation over the next week.
Northeast Holds Back Builder Confidence
Increased sales expectations among home builders offset diminished confidence about current sales conditions. The Northeast was the only region with deterioration.
Freddie Finances Fewer Housing Units in 2017
The Federal Home Loan Mortgage Corp. provided financing for 110,000 fewer housing units last year than it did in 2016. Quarterly earnings deteriorated.
Mortgage Debt Continues to Expand, HELOCs Contract
America's book of single-family loans expanded last year, though the balance of home-secured credit lines outstanding declined. Serious mortgage delinquency dropped.
GSE Refinances Climb to 10-Month High
The final month of last year saw refinances of government-sponsored enterprise loans climb to a 10-month high. But annual refinance production tumbled.
Purchases Lead Weekly Mortgage Applications Lower
With home-purchase activity leading the way, the volume of new mortgage applications faltered last week. The share of applications for government loans thinned for the fourth week in a row.
Serious Mortgage Delinquency Up in Hurricane Areas
No monthly change was recorded for the non-current rate on mortgages. But serious delinquency intensified due to deterioration in areas impacted by hurricanes.