|Purchases Lead Weekly Mortgage Business Up|
New mortgage activity picked up from the holiday week, with home-purchase financing leading the way. But the cashout share of business diminished to the most narrow level since last year.
Escalation Reported for Mortgage Rates
The short-term report is that interest rates on residential loans turned higher this past week. The medium-term outlook is for more of the same.
Banks Take Mortgage Market Share from Non-Banks
Quarterly home-lending actually moved higher on a year-over-year basis. Over that same period, non-banks have given up market share to banks.
Purchase Surge Overcomes Mortgage Refi App Decline
Even though refinance business slowed to the lowest level since the turn of the century, a surge in loan applications for purchase financing drove overall activity up.
Mortgage Bankers Cut 3-Yr Purchase Forecast
U.S. mortgage bankers have lowered their three-year housing forecast for purchase-money loan originations by more than $80 billion.
12-Year Low for Mortgage Delinquency
It has been slightly more than a dozen years since the rate of delinquency on single-family loans was as low as it was in the most-recent monthly report.
Jumbo Lending Lots Looser as Lenders Fight for Biz
Residential lenders relaxed credit requirements last month to the most flexible level since January. Driving the improvement were ambitious lenders fighting for jumbo business.
Bank-Owned HEL Delinquency Up, HELOC Rate Down
As the past-due rate on consumer credit held by banks deteriorated, so did the rate on home-equity loans. But performance on home-secured credit lines fell.
Monthly Mortgage Originations Slump
As publicly traded organizations prepare to report second-quarter earnings and mortgage originations, monthly data suggests there was a slump in lending. Despite record equity, home owners are reluctant to extract it.
|Mortgage Biz in July 4 Week Lowest Since Holidays|
As Americans celebrated the 242nd birthday of the United States, new mortgage business sank to the lowest level since the holidays. Adjustable-rate volume took the biggest hit. But jumbo activity accelerated.