Mortgage App Risk Rises, ARMs Could Drive Higher
|New Mortgage Activity Slows
With jumbo loans and adjustable-rate mortgages leading the way, new business retreated on a week-over-week basis. But activity moved higher from a year ago.
The level of risk on overall applications for residential loans moved higher for the third consecutive month and could rise even further as adjustable-rate share rises.
Bank Mortgage Delinquency Up, Foreclosures Down
Although the quarterly non-current rate of residential loans serviced by banks worsened, foreclosures started and completed fell as did the foreclosure rate.
Mortgage Rates Tumble, Could Stay Down
Prospective home loan borrowers got a break on rates this past week. Odds are rates will stay down or dip a little further in the next report.
Biggest Commercial Mortgage Originators
The results have arrived for the ranking of the country's 10 largest originators of commercial real estate loans during all of last year.
New Home Inventory Highest Since July 2009
As new home sales picked up last month, the inventory of new houses for sale increased to the highest level in more than seven years.
3rd Consecutive Monthly Mortgage Delinquency Drop
For the third month in a row, the share of mortgages that were past due at least one month or in the foreclosure process has moved lower.
Northeast Leads Drop in Existing Home Sales
With supply shortages being blamed, the annual rate of existing home sales declined last month. The Northeast was out front of the drop.
FHA Share of Mortgage Apps Down 3 Weeks in Row
As weekly mortgage applications dropped off, the share of activity that was represented by government insured loans thinned for the third consecutive week.
Mortgage Servicers Swing to Profit on MSR Gains
Earnings at independent servicers of residential loans swung to a profit in the final quarter of last year. Behind the improvement were gains on mortgage servicing rights.