“FHA can no longer tolerate putting taxpayers at risk by allowing obligations like these to be placed ahead of the mortgage itself in the event of default,” Dr. Ben Carson, secretary of the Housing and Urban Development, said in a statement announcing the agency’s decision to not insure residential Read more
MBA Report: Refinances Surge After Rates Dropped
A surge in refinancescaused mortgage applications volume to slightly tick up in the previous week, thanks to a drop in interest rates driven by significant market-pressuring events.According to recent data from the Mortgage Bankers Association, total mortgage applications increased by 3.3 Read more
Weak Refis Hurt Lenders
The rise in interest rates has negatively impacted refinancing applications, driving earnings of regional banks down for the second quarter of the year. According to recent reports forwarded by banks like the US Bancorp and the BB&T, revenues fell significantly by 11 and 15 percent, Read more
Mortgage Applications Fell After 2 Weeks of Increase
In the survey ending July 28, 2017, the total volume of mortgage applications dwindled after two consecutive weeks of increase in the same month. The refinance activity also scored down slightly according to the latest survey. Survey Highlights:The Market Composite Index has decreased 2.8 Read more
Mortgage Applications Slide Down in Latest Weekly Survey
In the week ending July 7, the volume of mortgage applications had acutely gone down 7.4 percent for the previous week. This data** is reported by the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey. Survey HighlightsThe overall Market Composite Index on the Read more
