Mortgage applications—particularly refinance applications—surged last week as key interest rates held relatively steady and borrowers took advantage, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending January 8.
Move over, San Francisco Bay Area and New York City; you’ve got company—lots of it.
CoreLogic, Irvine, Calif., said on a national level, 6.1% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in October, a 2.4-percentage point increase from a year ago, when it was 3.7%.
Renters’ median income growth stopped last year, and more than three million renters who face COVID-19 unemployment carry extreme housing cost burdens, analysts said.
MISMO announced its Board of Directors for 2021. MISMO, which is a subsidiary of and managed by the Mortgage Bankers Association, is the mortgage industry’s standards organization working to enable the industry to speak the same language.