Mortgage Rates Rise, Likely to Stay Put
A modest rise was recorded for mortgage rates this week, and several indicators suggest that they aren't likely to change over the next week.
Existing Home Sales Gains Might Be Unsustainable
Existing home sales improved last month, with the Midwest seeing the biggest month-over-month rise. But a key economist questions the ongoing viability of gains.
Mortgage Bankers Lift 2016 Origination Forecast
Mortgage banking economists now expect nearly $80 billion more in residential loan originations for all of this year than they forecasted just a month ago.
Monthly Mortgage Metrics Deteriorate
Home loans took longer to close last month, and the closing rate deteriorated. Meanwhile, the average credit score moved higher on a month-over-month basis.
Fannie Lifts Origination Forecast by $185 Billion
The Federal National Mortgage Association has increased this year's and next year's projected loan originations by $185 billion.
Multifamily Loans Boost CMBS Performance
Performance improved last month on loans included in commercial mortgage-backed securities thanks to apartment loan delinquency.
Serious 2nd Mortgage Delinquency Down
Although there was a modest rise in serious delinquency on first mortgages, the past-due rate made a month-over-month improvement on second mortgages.
Permits at 12-Mth High, NE Completed Const Soars
Monthly building permits for new housing units rose to a 12-month high. Meanwhile, completed construction soared in the Northeast.
Freddie Drives GSE Refis to 10-Month High
It has been 10 months since the number of Federal Home Loan Mortgage Corp. loans that were refinanced was as high as it was in May.