Author Archives: Matt Carter

It’s the end of the road for LIBOR mortgages

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No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing loans tied to LIBOR. Continue reading →

Porch launching ‘pay-at-close’ program for home inspections

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Since going public in a December 2020 merger with a special purpose acquisition company, Porch has continued to grow through acquisitions. Continue reading →

Better lays off 900 employees, revamps terms of SPAC merger

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Company says it will be better positioned for growth as lenders shift their focus from refinancing mortgages to providing purchase loans. Continue reading →

Drop in demand for mortgage refinancing hints at what’s to come

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Applications to refinance fell 41 percent from a year ago as rates increased for the third week in a row, according to The Mortgage Bankers Association’s Weekly Mortgage Applications Survey. Continue reading →

Fed still considering faster tapering of support for mortgages

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Speaking before the Senate Banking Committee Federal Reserve Chair Jerome Powell said the recent rise in COVID-19 cases and the emergence of the Omicron variant does pose “downside risks to employment and economic activity and increased uncertainty for… Continue reading →

Fannie, Freddie raise loan limits to record high

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Rapid home price appreciation during the pandemic means loan limits for Fannie Mae and Freddie Mac will make a record-breaking leap in 2022, fueling a debate over whether that’s ultimately in the best interests of would-be homebuyers struggling to find… Continue reading →

Omicron could lead Fed to exercise restraint on mortgage pullback

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Financial markets have already dialed back expectations that the Fed would quickly withdraw its support for mortgage markets and hike short-term rates three times next year. Continue reading →

Rising mortgage rates may be pressuring borrowers off the fence

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Purchase loans were up 5 percent last week and applications by homeowners to refinance existing mortgages were up 0.4 percent week over week, according to the Mortgage Bankers Association. Continue reading →