The volume of mortgage applications declined in the week ended May 8th. This is indicated by the 3.5% drop in the MBA’s Market Composite Index on a seasonally adjusted basis from the week before. On an unadjusted basis, the decrease
The Consumer Financial Protection Bureau (CFPB) released new guidelines designed to assist mortgage lenders with avoiding discrimination against loan applicants who receive income via the Section 8 Housing Choice Voucher Homeownership Program. The goal of the Section 8 Housing Choice
It became easier for consumers in the United States to obtain a mortgage loan in April 2015, according to the Mortgage Bankers Association. Their Mortgage Credit Availability Index increased for a second consecutive month indicating loosening of the credit standards.
Two programs of the Federal Housing Finance Agency, the Home Affordable Refinance Program (HARP) and the Home Affordable Modification Program (HAMP), are extended until the end of 2016. The official announcement was made by the director of FHFA, Mel Watt,
The average rates of fixed-rate mortgages rose during the week ended May 7th in line with the 10-year Treasury yields. This was revealed in the Primary Mortgage Market Survey report of Freddie Mac. The average interest rate of a 30-year
The originations of commercial and multifamily mortgages in the United States rose by 49% in the first quarter of 2015 from the same quarter of 2014. This was revealed in the Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations compiled by
The volume of applications for mortgage refinance declined 8% in the week ended May 1st from the previous week to reach its lowest level since the first month of 2015. This was revealed in the Weekly Mortgage Applications Survey report
The share of refinancing mortgages in the total volume of single-family home loans originated in the first quarter of 2015 was 63%. For the whole of 2014, this share was approximately 52%. This data was presented in an official report
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