Homebuyer affordability worsened in January for the first time in seven months, despite mortgage rates hitting a three-year low. Processing Content The national median payment applied for by purchase applicants rose from $2,025 in December to $2,070 last month, according to the Mortgage Bankers Association’s Purchase Applications Payment Index. That’s on par with levels recorded […]
Homebuyer affordability dips after seven-month run Read More »
Oregon’s Willamette Valley Bank announced it is exiting mortgage lending, pointing to challenges facing small institutions and macroeconomic concerns behind its decision. Processing Content The community bank, based in Salem, Oregon, will formally end residential lending operations on March 31. Along with four full-service branches across the state, Willamette Valley also runs five designated home
Oregon community bank ceases mortgage operations Read More »
Mortgage rates for the 30-year fixed loan finally broke below the 6% mark this past week, Freddie Mac reported, as the spread with the 10-year Treasury got below 200 basis points. Processing Content However, the 15-year fixed rate mortgage rose by a relatively large 9 basis points from the week of Feb. 19. “For the
Mortgage rates dip under 6% for first time since ’22 Read More »
Better is turning to crypto-linked capital to fund as much as $500 million in mortgages, betting the move can double originations and eventually push borrower rates below 5%. Processing Content The lender is partnering with Framework Ventures to tap funding through the Sky stablecoin ecosystem, positioning the platform as an alternative source of warehouse liquidity
Better taps crypto funding to target sub-5% rates Read More »
Wholesale and correspondent mortgage firm Lendermac announced it had reached an agreement to acquire Direct Mortgage Corp., the latest deal in the current wave of industry consolidation. Processing Content The move aims to bolster the national presence of Cypress, California-based Lendermac and facilitate its efforts to create a scaled multichannel platform that supports future expansion,
Non-QM specialist Lendermac acquires Utah’s Direct Mortgage Read More »
Helped by a strong fourth quarter, the six active private mortgage insurers wrote 12% more business in 2025 over the prior year. Between the third and fourth quarter, new insurance written grew by 4%, according to a report from Bose George of Keefe Bruyette & Woods. Typically, the last three months of the year are
MI volumes jump 12%, competitive pressure builds Read More »
United Wholesale Mortgage produced nearly $50 billion in loans during the fourth quarter, as its parent company ended the period with substantially higher net income than the comparable quarters. Processing Content UWM Holdings reported fourth quarter GAAP net income of $164.4 million. This included a $28.8 million markdown on its mortgage servicing right portfolio. In
UWM production nears $50 billion on strong refi quarter Read More »
US mortgage rates slipped last week to the lowest level since 2022, generating more refinancing activity. Processing Content The contract rate on a 30-year mortgage dropped 8 basis points to 6.09% in the week ended Feb. 20, according to Mortgage Bankers Association data released Wednesday. The rate on five-year adjustable mortgages fell to 5.23%, also
Mortgage rates reach lowest since 2022, boosting refinancing Read More »
Sellers significantly outnumbering buyers in the market and economic uncertainty have caused a record number of home sales to fall through, a new industry report found. Processing Content Nearly 40,000 home-sale agreements were cancelled in January, according to a Redfin analysis of pending sales data. That’s 13.7% of homes that went under contract in the
Buyers back out of home-sale deals at record rate in January Read More »
Retail giant Rate is embracing cryptocurrency and stablecoins for prospective home buyers, who accumulated wealth in the digital assets. Processing Content The Chicago-based lender is rolling out RateFi, a product allowing buyers to access purchase, refinance, second-home and investment property loans, without liquidating their crypto or stablecoin. The offering is Rate’s first step in a
Rate will consider crypto, stablecoins in underwriting Read More »