With a seasonal adjustment for Labor Day, mortgage loan application volume in the U.S. ticked down 1.2 percent over the past week, according to data from the Mortgage Bankers Association’s. And while purchase mortgage activity was effectively unchanged from the week prior on an adjusted basis, it dropped 12 percent in the absolute and was […more]
Demand for mortgage loans declined last week as mortgage rates reached their highest level since 2008, crossing the 6% threshold. The market composite index, a measure of mortgage loan application volume by the Mortgage Bankers Association, fell 1.2% for the week ending Sep. 9, compared to the previous week. It was also down 64% compared […more]
The company is the latest to reduce its workforce amid a cooling real estate market.
With housing affordability at an all-time low and accelerating consumer prices disproportionately affecting lower- and middle-income families, the Mortgage Bankers Association this week called on the White House and the Federal Housing Administration to reduce annual mortgage insurance premiums. In a letter addressed to the National Economic Council, the mortgage trade group said the combination […more]
Fitch Group, the parent of bond-rating firm Fitch Ratings, is acquiring a majority ownership stake in capital-markets fintech company dv01 — which provides data and analytics services to the structured-finance market. Terms of the deal were not disclosed. It is expected to close by the end of the third quarter, according to Fitch Group, which also is the […more]
California-based Point Mortgage Corporation has decided to shut down its wholesale business GoPointDirect and lay off employees to focus on retail lending, a top executive confirmed to HousingWire. “We have temporarily taken it down,” Johnny Margarini, president and CEO, said during an interview. “When business picks back up, we’ll revisit wholesale, but for now, to be proactive to the […more]
The house spent half its life in San Francisco before finding its new home.
Home-equity lending is on a roll this year, with the combined volume of home-equity lines of credit (HELOCs) and traditional closed-end home equity loans up 47% from January to May of 2022, compared with the same period last year. Nearly $69 billion in HELOC credit limits and $27 billion in closed-end home-equity loans were originated […more]
The formal application to move forward with the redevelopment of the Central SoMa parking lot parcel at 160 Freelon Street, a 12,800-square-foot parcel which sits behind the approved neighborhood changing development to rise at 598 Brannan and is slated to be deeded to the City to fulfill the affordable housing requirement associated with the larger […more]
Consumer prices in August rose slightly from July, all but ensuring the Federal Reserve will hike interest rates aggressively at its upcoming September meeting to tamp down inflation. Despite decreases in the indexes for airline fares, communication, and used cars and trucks, the Consumer Price Index (CPI) rose 0.1% from the month in August, after […more]