Chase Home Lending has resumed offering home equity lines of credit after a five-year absence from the product, the company announced. While parent JPMorgan Chase has participated in HELOC securitizations, it did not originate or service the loans. In April 2020, just as the pandemic entered full swing, Chase paused taking new applications for HELOCs […]
Chase formally reenters HELOC business after five years Read More »
Mortgage spreads reached their narrowest point in three years on Aug. 22, but were still wider than their historic average, Redfin reported. The normal spread, which in this case measures the difference between the 30-year fixed rate mortgage and the 10-year Treasury yield, is in a range between 150 basis points and 200 basis points.
Mortgage-Treasury spread at narrowest point in three years Read More »
Mortgage rates were unchanged as the markets await what Federal Reserve Chairman Jerome Powell will say on Friday. At the same time, a 10-basis point rise in the 10-year Treasury between Aug. 13 and Aug 18 was partially reversed by two days later in anticipation of a speech possibly hinting at September Fed Funds Rate
Mortgage rates remain flat as markets wait for Powell speech Read More »
Fannie Mae’s August mortgage origination forecast predicts lower volume in 2025 and 2026 compared with July as the government-sponsored enterprise moved its rate expectations higher. It now expects total home sales to decline year-over-year. Fannie Mae is still looking for existing home sales to rise, but not by as much previously expected. The drop off
Fannie Mae cuts outlook for 2025–26 home sales Read More »
Among the nation’s 50 largest metro areas, half, primarily in the north and east, had annual home price increases in July, while the others are reporting downturns, Zillow found. Nationwide, year-over-year home price appreciation was a meager 0.2%. While this helped to marginally improve affordability, with average monthly mortgage costs down $19 over the past
Half of largest housing markets record home price downturns Read More »
Federal legislation banning traditional mortgage trigger leads has cleared the Senate and is likely to be signed into law in the coming weeks. When that happens, lenders will lose a familiar — and often crowded — way to identify borrowers after a credit pull. For some, that will feel like losing a trusted tool overnight.
With trigger leads going away, lenders who prepare will win Read More »
Mortgage rates this week fell to their lowest level since October, supported by one better than expected inflation report as well as ongoing concerns regarding employment data. But an unexpected finding in the Bureau of Labor Statistics July Producer Price Index report could put a hold on a potential September Federal Open Market Committee short-term
Mortgage rates move lower on inflation, employment news Read More »
The disappointing spring home purchase season influenced the second quarter results of the publicly traded title insurance underwriters. Certain metrics were strong, with pretax title margins at three of the companies’ showing significant gains versus the second quarter. Stewart was up 630 basis points, First American reported a 530 basis point rise and Fidelity National
Title insurers see margins rise, sales still weak Read More »
Consumer housing confidence improved slightly in July, with Americans feeling more confident about the economy even as many worry about whether they can buy a house themselves. Fannie Mae’s Home Purchase Sentiment Index rose in July to 71.8, two points higher than June. That’s close to where it was a year ago and right in
Buyers are gloomy. Here’s what they might be missing Read More »
UWM Holdings CEO Mat Ishbia’s new target for mortgage broker originations share is for them to do over half of production. On the company’s earnings call, he cited statistics giving the current broker share at 30%. “Our goal is for brokers to be No. 1,” Ishbia said. “In my mind, that means 50.1%; I don’t
UWM aims for broker-majority market amid 300% profit surge Read More »