FHA Endorsements Edge Higher, Book of Biz Grows
Monthly residential government-insured mortgage production was nudged up, though commercial real estate endorsements plunged. The book of business continued to grow.
Fannie Cuts 2018, 2019 Origination Forecast
The latest housing forecast from Fannie Mae has this year's mortgage originations coming in $35 billion less than previously expected, while next year's outlook was cut by $61 billion.
Mortgage Rate Forecasts Have Little Change Ahead
Thirty-year mortgage rates moved lower this past week and this past month. Short- and long-term forecasts have little movement ahead for mortgage rates.
GSE Mortgage Refinances Bounce Off 7-Yr Low
After plunging to the weakest level in at least seven years, government-sponsored enterprise refinance volume bounced up to the second-slowest month during the period. HARP production fell to a new low.
Mortgage Credit Conditions Tighten
Average credit scores increased on last month's mortgage production, while averaged debt-to-income ratios declined. The tighter credit conditions came as refinances continued to make up a diminishing share of mortgage production.
Home-Equity Lending Set to Grow
A new report predicts that borrowing against home equity is poised for growth. Lenders can maximize this opportunity by personalizing marketing based on how individual consumers use these loans.
Mortgage Apps Drop Again, Jumbo-Conf Spread Doubles
For the second consecutive week, fewer applications were completed for home loans. As long-term mortgage rates climbed to a seven-year high, the jumbo-conforming spread doubled.
Northeast Leads Builder Confidence Higher
A jump in builder confidence in the Northeast led the national level modestly higher this month. Behind the improvement were strong economic conditions and lower lumber prices.
Home Purchase Financing Outlook Boosted $120 Bil
Mortgage bankers have lifted their latest forecast for the origination of loans to finance house purchases by $120 billion over the next three years. There was even a modest bump in the three-year refinance outlook.
Mortgage Delinquency Down in September
A report that tracks the performance of consumer credit, including mortgages, revealed an across-the-board improvement in consumer delinquency -- with Dallas improving most among large cities. Hurricanes could drive up rates in some regions.