The Lede
Top National News
Weekly Mortgage Demand Drops as Homebuyers are Rattled By Stock Market
CNBC, Apr. 4, 2018--Diana OlickTotal mortgage application volume fell 3.3 percent last week from the previous week, according to the Mortgage Bankers Association.
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Rise in Mortgage Rates DIdn’t Halt Millennial Home Buying
National Mortgage News, Apr. 4, 2018--Elina Tarkazikis (subscription)Purchase loans made to millennial mortgage borrowers rose month-over-month in February despite interest rates increasing at the start of the year, according to Ellie Mae's Millennial Tracker.
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Rising Interest Rates Squeeze Homeowners’ Budgets
Wall Street Journal, Apr. 4, 2018--Robyn A. Friedman (subscription)A recent uptick in mortgage interest rates is increasing costs for buyers already grappling with rising prices.
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ADP: Construction Industry Leads March Employment Surge
HousingWire, Apr. 4, 2018--Kelsey RamirezAs job gains continue in the construction industry, employment is expected to surge in March, according to the ADP and Moody's Analytics National Employment Report.
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U.S. Is Restricting Lenders in Veterans’ Mortgage Crackdown
Bloomberg, Apr. 4, 2018--Joe LightNewDay USA and Nations Lending Corp. have been restricted effective this week from issuing Ginnie Mae bonds that are intermingled with loans from other lenders. The move follows an examination by Ginnie Mae, a government-owned corporation that guarantees about $2 trillion in mortgage-backed securities, including loans backed by the Department of Veterans Affairs.
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Pioneer Working on Mortgage Blockchain
Mortgage Daily, Apr. 4, 2018Lew Ranieri, a pioneer in the private-label mortgage-backed securities market has turned his focus to applying blockchain principles to the home-lending industry.
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Post-Crisis Low for Mortgage Refinance Share
Mortgage Daily, Apr. 4, 2018The last time that refinances accounted for this small of a share of mortgage applications, America was in the midst of a financial meltdown, the Mortgage Bankers Association said.
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Credit Bureaus Aren’t Going Anywhere. For Now
National Mortgage News, Apr. 4, 2018--Penny Crosman (subscription)Until banks find that traditional credit reports and credit scores no longer provide decent performance and low-enough default, they're unlikely to chuck them.
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Growth in U.S. Service Industries Cools for a Second Month
Bloomberg, Apr. 4, 2018--Katia DmitrievaGrowth in U.S. service industries cooled in March for a second month as orders settled back from the fastest pace in more than 12 years, a survey from the Institute for Supply Management showed Wednesday.
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