Latest Updates Around The World
MBA economists Mike Fratantoni, Joel Kan and Judie Ricks wrote that forecasts for 2025 show GDP growth of 1.6% and a 35% chance of a recession in the next twelve months. Growth is expected to remain within a narrow range of around 1.5% to 1.7% between 2026 and 2028, the forecast said. The outlook comes […]
MBA’s PAPI, which tracks changes over time in new monthly mortgage payments relative to income, uses data from the trade group’s weekly application survey. The PAPI fell 0.2% to 149.6, marking a sixth straight monthly improvement. “Affordability conditions have now improved for six months in a row as lower mortgage rates and strong growth in […]
“Mortgage rates rose last week, with the 30-year fixed rate rising to 6.4%, the highest level since early October,” said Joel Kan, MBA vice president and deputy chief economist. “Despite these slightly higher rates, purchase applications increased during the week and remained at a stronger pace than a year ago, with increases in conventional and […]
“Increased use of ARM loans, whose rates averaged nearly 80 basis points lower than fixed-rate loans, also contributed to the increase in revenue and a slightly higher average loan size, the third monthly increase. In October, our data showed that ARM loans accounted for 25% of applications, up from 16% a year ago.” Kan added […]
“Mortgage rates moves were mixed last week as Treasury yields rose modestly after last week’s FOMC meeting. The 30-year fixed rate was largely unchanged at 6.31% and remained near the lowest level in more than a year,” said Joel Kan, MBA vice president and deputy chief economist. “Despite a decline last week, refinance applications are […]
Emerson was joined by Terry Schmidt, CEO of Guild Mortgage; John Hedlund, vice chairman of ICE mortgage technology; and Brian Woodring, chief information officer at Nurez. Emerson acknowledged what he called the “elephant in the room” — industry consolidation — before turning the conversation over to Schmidt, who has been with Guild for 41 years […]
The Association of Mortgage Bankers (M.B.A.) announced Sunday that it expects total mortgage origination volume for single-family homes to rise to $2.2 trillion in 2026, up from an expected $2.0 trillion in 2025. Mike Fratantoni, chief economist and senior vice president for research and business development, spoke at the 2025 annual convention and expo; Joel […]
