The lowest interest rates in nearly a year were not enough incentive to juice mortgage demand.
Lending & Refinance News
May
05
2016
Because home loan rates track closely to long-term bond yields, mortgage rates dipped, according to the latest data...
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The retreat began last week after the Federal Reserve met and expressed concerns about the economy. Then came the report that the gross domestic product grew an anemic 0.5 percent in the first quarter.
May
04
2016
Ginnie Mae has recently made a compelling case for a greater share of HUD’s budget. In particular, it is argued that...
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We are artificially constraining a success story which has played a critical role in helping the mortgage industry rebound from the bleak days after the subprime meltdown.
May
04
2016
Back when the 2005-07 housing bubble was brewing, photos of impossibly small houses selling for insanely high prices...
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We’re seeing the same telltale signs that we did a decade ago.
May
04
2016
It was yet another small tick higher for interest rates last week, and it was enough again to hold borrowers back from...
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Total application volume fell 3.4 percent for the week from the previous week, according to the Mortgage Bankers Association. Volume is 14 percent higher than one year ago.
May
04
2016
“There has to be consolidation,” said Warren Kornfeld, senior vice president at Moody’s Investors Service. “Most of...
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Regulatory changes boost home-loan expenses 18% in two years. Business `too capital intensive' for small firms to grow.
May
03
2016
"The mortgage industry is poised to experience a monumental shift as more millennial homebuyers begin to enter the...
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It is the No. 1 barrier to entry for young, would-be homebuyers: credit. Millennials are the first generation to come of age in a post-almost-apocalyptic housing market, where lenders, eight years later, are still paying billions in reparations.
Apr
29
2016
Despite weaker first quarter GDP numbers, CUNA’s economists still expect stronger growth for the rest of the year. The...
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It was the weakest quarterly gain in two years. Consumption spending rose 1.9%--marginally higher than the 1.8% growth in the first quarter of last year. Consumer spending on services increased 2.7%, outpacing spending on goods, which rose 0.1%.
Apr
29
2016
Because of the dovish tone struck by the Fed, home loan rates are expected to reverse course. Bankrate.com, which puts...
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Bond yields had been heading higher, bringing mortgage rates along with them. Then the Federal Reserve met this week, opting not to raise its benchmark rate.
Apr
29
2016
“We appreciate Director Cordray’s consideration of our concerns regarding the need for greater clarity on the TRID...
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On Thursday, CFPB Director Richard Cordray stated that the bureau is working on a Notice of Proposed Rulemaking on the Know Before You Owe mortgage disclosure rule “for greater certainty and clarity,” as urged by NAFCU.