While growing loan servicing business remains profitable, according to Q3 earnings, paper gains on servicing rights could evaporate if interest rates fall and borrowers refinance out of portfolio. Continue reading
There’s no sign of a rebound in purchase applications, but August data showing a strong job market “should support housing demand,” an MBA economist says. Continue reading
Purchase loan activity has dropped in five of the last six weeks as some buyers remain wary, according to the Mortgage Bankers Association. Continue reading
The largest weekly decline in mortgage rates since 2020 sparks increase in home loan applications after four weeks of declining demand, MBA’s survey says. Continue reading
If rates come down in the next three years, Rocket Mortgage’s program will cover some refinancing costs including first appraisal, credit report, tax certification and the mortgage recording fee. Continue reading
Rising rates took their toll not only on refinancing but on homebuyer demand for purchase loans in June, according to an analysis of rate lock data released Monday by Black Knight. Continue reading
As Fed embarks on “quantitative tightening,” interest rates could come under renewed pressure. Continue reading
A lender survey shows demand for purchase mortgages rose for a second week in a row, but borrowers are increasingly turning to adjustable-rate loans. Continue reading
LoanDepot will lay off workers and suspend its quarterly dividend after posting a $91.3 million first quarter loss. Continue reading
Lenders saw much of what was left of their refinancing business evaporate as rates climbed to their highest levels in nearly 13 years. Continue reading