Latest Updates Around The World
“Mortgage rates fell, with the 30-year fixed rate falling to 6.17%, and all other loan types in the survey also fell. Refinancing applications rose for all loan types, marking the strongest week for refinancing since mid-January. Overall, however, there was a decline in purchase applications, although VA purchase applications bucked the trend and rose 4%.” […]
The final stage of the consumer’s mortgage journey – planning and signing – is often the point where borrower frustration is greatest. In our digital world, few consumers expect unclear and inflexible processes regarding their appointment as a notary – or to be tied to personal paperwork. Yet this remains the norm for many lenders. […]
Purchases fell 22% from October and 6% year-on-year as high home prices and low inventory levels continued to curb demand, the report said. report. The Optimal Blue Mortgage Market Indices (OBMMI) 30-year conforming fixed rate – the benchmark for CME Group‘s mortgage rate futures fell 1 basis point to 6.14% in November, an improvement of […]
ICE found overall mortgage performance was strong in October, with the national default rate falling 7 basis points (bps) to 3.34%. That is 11 basis points lower than last year and 53 basis points lower than the pre-pandemic benchmark of October 2019. Andy Walden, head of ICE’s mortgage and housing market research, said the modest […]
For many borrowers, the appraisal is the most stressful step in a refinance: part mystery, part high-stakes hurdle. Is the house valued high enough? Will this delay the closure? What actually determines the final value? Lenders can help alleviate these concerns by adopting the right combination of technology, strategy and partnerships to modernize the process. […]
“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 […]
The demand for mortgage refinancing is 111% higher than last year, an increase fueled by falling mortgage rates and renewed interest from homeowners looking to improve their financial position. Refinancing can certainly be a smart move: a way to lower monthly payments, consolidate debt, or tap into home equity. But this sense of routine can […]
“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 […]
The refinancing experience is only as fast as the slowest step, and securing title has traditionally been one of the least understood steps in the process – and therefore seen as one of the most unpredictable. But the right technologies make it possible to make immediate title decisions for qualified files, reducing cycle times, operational […]
“The mortgage interest rate fell further last week, with the 30-year fixed rate to the lowest level since last September to 6.34%,” said Mike Fratantoni, senior vice president and chief economist of MBA. “The interest rates have generally risen after the FOMC meeting last week, but remain in a reach that should continue to lead […]
