Release of historical credit scores on tens of millions of loans will help lenders prepare for transition to VantageScore 4.0 next year. Release of FICO Score 10 T data next on deck. Continue reading
Demand for purchase loans picked up last week as would-be homebuyers took advantage of rates that are still a full percentage point lower than 2023 highs. Continue reading
Homebuyer demand for mortgages inched up slightly last week, as rates climbed to the highest level in more than two decades, according to the Mortgage Bankers Association’s weekly survey. Continue reading
More than 8 in 10 Americans polled by Fannie Mae said it was a bad time to buy a home, and most weren’t expecting mortgage rates to come down anytime soon. Continue reading
Mortgage lenders tightened standards for the third month in a row in May, with mortgage credit availability falling to the lowest level since January 2013. Continue reading
Requests to refinance accounted for 31 percent of all loan applications last week, well below the past decade’s average of 58 percent. Continue reading
Mortgage lenders tightened underwriting standards in June, undoing much of the easing seen over the last six months as initial fears about the long-term impacts of the pandemic began to wane. Continue reading
After adjusting for seasonal patterns, requests for purchase loans were down 3 percent from the week before, and 2 percent from a year ago. Continue reading
Mortgage lenders continued to ease underwriting standards in April, but only for borrowers who were refinancing. For both homebuyers and homeowners seeking to refinance, credit still remains tighter than before the pandemic, which helped pushed average… Continue reading
The Mortgage Bankers Association said the decrease is due to stricter lending standards and increased likelihood of loan forbearance and defaults. Continue reading