Tag Archives: refinancing

UWM is hiring after banner year for purchase mortgage lending

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In a year when home sales hit a three-decade low, the nation’s biggest mortgage lender made $96.1 billion in loans to homebuyers — the company’s best year ever. Continue reading →

Mortgage rates climbing again on hot CPI report, Powell testimony

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Trump calls for lower interest rates after release of January CPI report. Powell says Fed is in no hurry to cut rates, and bond market investors who fund mortgages are taking him at his word. Continue reading →

Pullback in mortgage rates spurs refis but not purchase loans

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Requests to refinance were up 12 percent week over week and 17 percent from a year ago last week after rates for 30-year fixed-rate loans pulled back to the lowest level in six weeks. Continue reading →

Elevated mortgage rates continue to chill homebuyer demand

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Mortgage rates hovering near “key psychological level” of 7 percent, a likely factor in the slow pace of applications for both refinance and purchase mortgages: MBA chief economist. Continue reading →

Mortgage demand crumbles as rates are on the rise again

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With mortgage rates back to where they were last summer, purchase applications are coming in at the slowest pace since February 2024, Mortgage Bankers Association lender survey finds. Continue reading →

New York City real estate mogul Jacob Chetrit dies

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Alongside his brother Juda, Jacob led the Chetrit Organization, which owned notable properties, including a 366,000-square-foot building at 1 Whitehall Street in New York’s Financial District. The duo also had major prospects underway in Pompano Beach … Continue reading →

LoanSnap’s business dried up. Now regulators are after its licenses

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Connecticut has entered into a consent decree revoking the fintech mortgage lender’s license, and LoanSnap has been put on notice by California regulators that they intend to do the same. Continue reading →

Mortgage rates bounce back before homebuyers can pounce

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The big drop in mortgage rates did more to spur refinancing than homebuying, according to a weekly survey of lenders by the Mortgage Bankers Association, and now rates are rising again. Continue reading →

Fewer homeowners constrained by mortgage lock-in effect

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Two years ago, nine out of 10 mortgages had rates below 5 percent. Today, there are 5.8 million fewer sub-5 percent mortgages in the market and 1 in 4 borrowers has a higher rate. Continue reading →

Freddie Mac will dip a $2.5B toe into the second mortgage market

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Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans. Nonbank lenders have already made inroads into the business. Continue reading →