Home | National Mortgage News
WEB3 days ago · Hurricane Helene's damage estimate soars, tripling initial projections. Total insured wind and flood losses are predicted to be between $10.5 billion and $17.5 billion, according to CoreLogic. Earlier estimates placed the cost of insured damages between $3 billion and $5 billion. By Maria Volkova.
Best Mortgage Companies to Work For 2024
WEBMar 4, 2024 · Spring EQ. Headquarters: Conshohocken, Pennsylvania. Number of employee s: 366. Website: mortgage.springeq.com. Besides great benefits, Spring EQ offers its employees a hybrid work structure, "and a set of values we all live by. All said, it's our culture that sets Spring EQ apart," the company said in a statement.
Refinances propel rebound in mortgage application volumes
WEBJul 17, 2024 · The Refinance Index leaped 15.2% week over week, while compared to the same survey period in 2023, it came in 37.3% higher. FHA refinance transactions rose by over 23% on a weekly basis, while VA-sponsored applications increased almost 40%. The share of total refinances relative to overall volume also grew to 38.8% from 34.9%.
Piggyback mortgages make a comeback - National Mortgage News
WEBAug 12, 2024 · A slower but similar trend could be seen in the median price of homes with conventional mortgages. A piggybacked purchase in 2022 had a median value of $265,000, 33% lower than the $400,000 on a single-lien transaction. By 2024, the difference widened to 36%, with median values of $262,000 and $410,000. Despite their appeal to some buyers ...
Mortgage lending sees greatest activity since January
WEBAug 7, 2024 · The spike reversed a two-week slide in applications, while compared to the same seven days in 2023, volumes also finished 10.6% higher. "Mortgage rates decreased across the board last week, and mortgage application volume reached its highest level since January of this year," said Joel Kan, MBA vice …
Fannie Mae ups forecast to two Fed rate cuts this year
WEBThe MBA July forecast for 2024, which came out on July 19, also was reduced from the prior month, but by $19 billion versus the $12 billion change at Fannie Mae. Its purchase dollar volume prediction is now $1.346 trillion, versus $1.374 trillion one month earlier. But the 2024 refi outlook is $9 billion higher at $431 billion.
Mortgage applications up alongside Federal Reserve cut | National ...
WEBSep 25, 2024 · Mortgage applications for the week ending Sept. 20 rose to their highest level since July 2022, the Mortgage Bankers Association said Wednesday. As mortgage rates fade, the association's Refinance Index jumped 20% weekly and was up 175% from the same time last year. "While the level of refinance activity is still modest compared to prior refi waves, they now account for the majority of ...
Housing Market - National Mortgage News
WEBPending sales of homes in U.S. creep up as borrowing costs drop. "A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August," NAR Chief Economist Lawrence Yun said in a prepared statement. By Michael Sasso. September 26. Housing markets.
Median monthly payment on a new mortgage drops
WEBJul 25, 2024 · The median payment on new purchase mortgages dropped 2.4% to $2,167 in June compared to $2,219 one month prior. The latest decline puts the number nearly on par with last summer, when it landed at $2,162 for both June and July.
How the home price forecast is changing | National Mortgage News
WEBSeptember 06, 2024, 4:11 p.m. EDT 2 Min Read. Experts raised their home-price growth projections for 2024 largely due to supply issues, but cost trends appear likely to maintain their current downward trajectory. Spencer Lee. Reporter, National Mortgage News.