Mortgage Lending Forecasted to Fall After Q2 Peak
After peaking during the current quarterly period, single-family loan production is projected to retreat for the foreseeable future.
South, West Drive Up U.S. Home Sales
A surge in new home sales in the South and the West was enough to offset a plunge in residential sales in the Northeast and Midwest.
Mortgage Rates Dip, Should Stay Down
Fixed mortgage rates slipped and aren't expected to move much at least until 2018. Home loans for veterans have the lowest average rates.
Decade Low for Serious Mortgage Delinquency
A decade has elapsed since the rate of serious mortgage delinquency was as low as it was in May. The foreclosure rate also fell to a 10-year low.
Record Prices, Market Time as Existing Home Sales Up
Monthly sales of pre-owned residential properties rose. Record prices are being paid for existing homes as properties fly off the market. Time on market was a record low.
Refi Share Thins, Conventional Metrics Strong
Refinances accounted for a smaller share of last month's home lending. Conventional refinance share was the widest. Conventional closing rates and turn times were the best.
Mortgage Apps Inch Up Despite Purchase Slowdown
A modest up tick in applications for mortgages was driven by accelerating refinance activity. But applications for home purchase financing turned lower.
Mortgage Credit Risk Rises as Rates Increase
After declining to the lowest level of any quarter during the prior 16 years, credit risk on new single-family loans rose. Rising rates contributed to the deterioration.
Purchases Drive Up Monthly Home Lending
A significant month-over-month increase in the volume of purchase-money lending was behind an increase in overall mortgage production.
2017 Refinance Forecast Raised By Fannie
In addition to raising its estimate of first-quarter refinances, Fannie Mae boosted its forecast for refinance production during the following two quarters.