The Lede

Top National News

Plunge in Rates Sparks 23.5% Spike in Mortgage Applications after Unusually Weak Holidays
CNBC, Jan. 9, 2019--Diana OlickOverall volume jumped 23.5 percent last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. An adjustment was also made for the New Year's Day holiday. Volume was still 9 percent lower than a year ago.
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Partial Government Shutdown is Hurting Some Borrowers Seeking a Mortgage
Washington Post, Jan. 9, 2019--Kenneth R. HarneyIf you'd been hoping to buy or refinance a house during the past couple of weeks with a conventional loan, your application or closing probably sailed through with few if any hitches, said Pete Mills, a senior vice president for the Mortgage Bankers Association. But federal workers could be experiencing problems.
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Prospective Homebuyers Derailed by the Government Shutdown
CNBC, Jan. 9, 2019--Annie Nova"Buying a home is a statement of optimism about your financial picture and your employment position," said Mike Fratantoni, chief economist at the Mortgage Bankers Association. "It's going to be tougher to be optimistic given the amount of uncertainty in the environment right now."
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Median Household Income Not Cutting It for First-Time Home Buyers
National Mortgage News, Jan. 9, 2019--Elina Tarkazikis (subscription)The average first-time homebuyer earns about $72,500, which is higher than the country's overall median household income of $60,700, according to Zillow. The drop is even greater for peers of new homeowners that didn't buy a house, as their median income sits at just $42,500.
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The Right Way to Tap Your Home Equity for Cash
Consumer Reports, Jan. 9, 2019--Daniel Bartz"This money should be used for purposes that really add value," says Michael Fratantoni, chief economist for the Mortgage Bankers Association. That means spending the cash on a home repair or paying off high-cost debt, rather than taking a vacation.
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Fed Policymakers Say Can Wait on Further U.S. Rate Hikes
Reuters, Jan. 9, 2019--Jonathan Spicer, Howard SchneiderFederal Reserve policymakers can wait on any further interest rate hikes until they have a better handle on whether growing risks will undercut an otherwise solid U.S. economic outlook.
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Chrysler Building, a Famed Slice of Manhattan Skyline, Is on the Block
Wall Street Journal, Jan. 9, 2019--Keiko Morris (subscription)The owners of the 1930 art deco office tower--an Abu Dhabi government fund and New York developer Tishman Speyer--have hired CBRE Group Inc. to market the property, according to Darcy Stacom, chairman of the firm's New York City capital markets group.
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Fintechs May Finally Win Charter Chase in 2019
American Banker, Jan. 9, 2019--Rachel Witkowski (subscription)The headwinds blowing at fintech firms seeking a national chartering option are still fierce. But observers believe 2019 is the year that a multistate licensing regime will officially arrive.
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Movement Mortgage Buying Big Piece of Lennar Home Mortgage
HousingWire, Jan. 9, 2019--Ben LaneMovement Mortgage is set to acquire the retail operations of Eagle Home Mortgage, adding 35 branches and 230 mortgage professionals to Movement's operations.
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Call for Nominations for MBA Insights 2019 Tech All-Star Awards; Deadline Tomorrow
The Mortgage Bankers Association and MBA Insights are accepting nominations for the MBA Insights 2019 Tech All-Star Awards. Nominations will be accepted through this Friday, Jan. 11.
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