Despite a steady increase in purchase applications, overall mortgage application activity got swamped by a sharp drop in refinance applications as interest rates spiked to their highest rate since April , the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending November 26.
Category: News and Trends
Quote
“After nearly a decade of rising inequality during the Great Recession and its aftermath, the distribution of wealth in the United States became somewhat more equal between 2016 and 2019. Americans became richer, with middle-class households on the receiving end of a bigger slice of the wealth gains.”
–John C. Weicher, author of a new Research Institute for Housing America report and Director for the Center for Housing and Financial Markets with the Hudson Institute.
MBA: 3Q IMB Production Profits Increase
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $2,594 on each loan they originated in the third quarter, up from $2,023 per loan in the second quarter, according to the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.
Multifamily Minute: Perspective from Lument’s Chad Musgrove
Chad Musgrove is Associate Director with Lument, a subsidiary of ORIX Corporation USA. He has a decade of experience in real estate and financial services consulting.
2022 GSE Conforming Loan Limits Rise 18.5% to $647,200
Conforming loan limits for Fannie Mae and Freddie Mac will rise to $647,200 jump in 2022, the Federal Housing Finance Agency said on Tuesday—a jump of nearly $100,000 from 2021’s previous record high.
Lenders One Webinar TODAY: Forecasting Session with MBA
Lenders One and the Mortgage Bankers Association have teamed up to offer a Dec. 2 webinar to help you enhance your strategy for the next year in the middle of an unparalleled time in our industry.
Arjun Raman of Wipro Opus Risk Solutions: Strapped for Time–Empower Overworked Staff with Outsourcing
The economic effects of the pandemic have placed strains on the day-to-day operations of servicers. An established relationship with a strategic outsourcing partner can streamline efficiency and productivity, resulting in improved scalability, increased cost savings and expertise at the ready.
Mark P. Dangelo: The Agenda Driving Leadership Data, Analytics and Hubs
In an age of digital, dealing with unknown unknowns is a reality for all leadership personnel incorporating innovations, conducting post-deal M&A events, or seeking relevant customer solutions. However, how can we determine the metrics, KPI’s, or targeted control panels that will be applicable against evolving data science demands and revolutionary access technologies?
MBA Weekly Applications Survey Dec. 1, 2021: Refis Take a Hit as Rates Reach 8-Month High
Despite a steady increase in purchase applications, overall mortgage application activity got swamped by a sharp drop in refinance applications as interest rates spiked to their highest rate since April , the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending November 26.
November Consumer Confidence Declines; Outlook Mixed
The Conference Board, New York, said its Consumer Confidence Index decreased in November, following an increase in October. The Index now stands at 109.5, down from 111.6 in October.