Tag Archives: Refinance

Refinancing Expected to Lose Market Share in 2014

Analysis reports on refinancing by Freddie Mac have shown that during the fourth quarter of 2013, the refinance share of applications averaged 56% in its monthly refinance survey. But its economists foresee a drop in refinances to 38% this year. Many homeowners who refinanced through Freddie Mac in 2013 have been choosing fixed rate mortgages […]

Maturing Commercial Mortgages May Mean Fewer Refinances

According to the 2013 year-end Trepp report, about $1.4 trillion in commercial mortgages are anticipated to mature between 2014 and 2017. This, coupled with higher taxes and uncertain economic conditions, may result in fewer lenders willing to refinance. The northeast states (including New York, New Jersey and Connecticut), represent 30% of all maturing commercial mortgage […]

Freddie Mac Completes Fewer Loan Modifications in September

The total amount of loan modifications completed by Freddie Mac decreased in September, according to the agency’s Monthly Volume Summary. There were 6,685 loan modifications in September, a 12.9% decrease from the previous month. Despite the decline, Freddie Mac has completed an average of 6,715 loan modifications per month this year, while in 2012, the […]

Mortgage Market Index Reports Increase in Refinance Transactions

The U.S. Mortgage Market Index from Loan Sifter and Mortgage Daily reported an increase in inquiries for rates on refinance transactions as interest rates fell. As compared to the week ending on September 13, the average pricing inquiries were up 17%. The week ending on September 20th saw the biggest gains in the refinance sector, […]

Mortgage Bankers Association Reports Rise in Applications

Mortgage applications are up 1.3% this week, making some recovery after a 2.5% decline in the last week of August, according to the Mortgage Bankers Association. The Refinance Index saw a 2% increase this week, with refinance activity up 1%, from 60 to 61. Although the Purchase Index fell 3% this week, purchase applications remain […]

Demand for Refinancing Declines as Mortgage Rates Soar

Dropping to its lowest level in a year and a half, refinance demands fell for a fourth continuous week, while, the mortgage rates continued to climb. It was the weakest demand for refinancing since November 2011. According to the weekly Mortgage Bankers Association (MBA) survey, as the average interest rates on 30-year fixed-rate mortgages dropped […]

Home Loan Originations Increase for Third Straight Month

For the third consecutive month, loans that originated for purchasing homes have increased. According to Ellie Mae’s Organization Insight Report for April, these loans made up for 42% of total loan originations, compared to 38% in March and 27% in January. Of these loan originations, 68% were conventional loans and 22% were Federal Housing Association […]

Mortgage Applications Rise, While Mortgage Delinquencies Tumble

There has been some good news in the housing market, particularly the mortgage market. Based on economic indicators, more people filed mortgage application forms to buy a house or to refinance their loan. Meanwhile, fewer mortgage holders are finding themselves behind on their payments. The Mortgage Bankers Association reported that the total number of mortgage […]

Home Finance Write-offs Fall to Five-Year Low

Equifax recently released its March National Consumer Credit Trends Report, which showed that there were $43.1 billion in home finance balances written off during the first quarter of 2013, down 23% year over year from $55.4 billion in Q1 2012. Last quarter’s figure is at a five-year low. Write-offs (or severe derogatories) include loans that […]

Home Purchase Applications Rise, But Refinancing Is Down

The Mortgage Bankers Association announced that overall mortgage application activity fell 4% the week ending March 29 to the lowest level since March 15. The number of applications for home purchases — a leading indicator of home sales — rose 1.4% but those gains were negated by the seasonally adjusted index of refinancing applications, which […]