By KIMBERLEY HAAS As refinances start to pick back up, lenders are preparing for the influx, and leaders at support service providers say they have solutions that can help with upticks in refinance volume. Ed Austin, chief operating officer at SingleSource Property Solutions, recently discussed his thoughts on the matter with The Mortgage Note. His company…
The share of mortgage holders with rates of 5% or higher is now 24%, up from 10% two years ago, suggesting a refi tipping point could be on the horizon. Four million loans originated since 2022 have rates of 6.5% or higher, according to ICE Mortgage Technology’s Mortgage Monitor. An additional 1.9 million have rates greater…
Mortgage applications rose again as rates slipped for a third week and refis rallied. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — rose by 1.9%, adding to last week’s 0.5% increase. Adjusted purchase applications declined, however, by 1%, while the unadjusted…
Mortgage applications rose slightly last week, buoyed by a refi turnaround even as purchase demand faltered. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — rose by 0.5%, adding to last week’s 2.6% increase. Adjusted purchase applications declined, however, by 2%, while…
Mortgage applications ticked up slightly last week, buoyed by a refi boost as purchase applications tanked in the face of 7% rates. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — increased by 0.1%, following the week prior’s 0.6% slip. Adjusted purchase…
Mortgage applications increased for a second week as rates retreated from 7%. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — increased by 7.1%, following the week prior’s 9.7% bump. Adjusted purchase applications rose by 5%, while the unadjusted index was up…
Rising rates sent mortgage applications spiraling last week, sidelining homebuyers and forcing refis to a standstill. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 10.6%, piling onto the week prior’s 2.3% dip. Adjusted purchase applications slipped by 10%, while the…
Mortgage applications shot up last week, reversing a slip, as rates remain stable into February. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – increased by 3.7%, countering the week prior’s 7.2% dip. Adjusted purchase applications slipped by 1%, while the unadjusted index…
United Wholesale Mortgage is making a push for refinances as rates have moderated. Company leaders announced Refi 100 this week, a temporary program allowing its broker partners to offer discounts of 100 basis points for conventional rate-and-term refinances. The discount can be applied to new locks through March 29. Loans originated by UWM must be…
Refinance applications drove a spike in mortgage applications last week as rates slipped to nearly 7%. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – saw a 7.4% boost, up from the week prior’s 2.8% increase. Adjusted purchase applications jumped by 4%, while…
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