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Mortgage applications fall over Thanksgiving week as rates rise
Mortgage applications fall over Thanksgiving week as rates rise

“Despite higher mortgage rates, purchase applications had a strong week, mostly driven by a 6% increase in conventional loan applications.” — MBA associate vice president of economic and industry forecasting Joel Kan

Guaranteed Rate’s Shant Banosian funds $2 billion in loan volume
Guaranteed Rate’s Shant Banosian funds $2 billion in loan volume

Banosian has funded $2 billion in total loan volume this year, becoming the company’s first loan originator to reach that milestone.

Mortgage applications decline despite drop in interest rates
Mortgage applications decline despite drop in interest rates

“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan

Mortgage applications rise despite increase in interest rates
Mortgage applications rise despite increase in interest rates

At the same time, the increase in interest rates drove fewer borrowers to refinance their loans, according to the Mortgage Bankers Association.

Democratic senators propose 20-year mortgage for low-income, first-time homebuyers
Democratic senators propose 20-year mortgage for low-income, first-time homebuyers

The Low-Income First Time Homebuyers Act (LIFT) establishes a program to sponsor 20-year mortgages that would build equity at twice the rate of a conventional 30-year mortgage.

Mortgage rates remain flat at 2.88%
Mortgage rates remain flat at 2.88%

“The net result for housing is that these low and stable rates allow consumers more time to find the homes they are looking to purchase,” Freddie Mac Chief Economist Sam Khater said.

Compass, Guaranteed Rate launch loan origination company OriginPoint
Compass, Guaranteed Rate launch loan origination company OriginPoint

Two of the largest leaders in the real estate market are joining forces to form a new mortgage origination company.

The trouble  with appraisals: How the wild market is making it harder to get financing
The trouble with appraisals: How the wild market is making it harder to get financing

Homebuyers lucky enough to win a bidding war for a property are increasingly running headlong into appraisals that don’t match — or even come close to — the agreed sales price, leaving them with limited ways to close the sale.

Mortgage applications drop 4% on higher rates in latest MBA survey
Mortgage applications drop 4% on higher rates in latest MBA survey

“Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices.” — MBA Associate Vice President of Economic and Industry Forecasting Joel Kan

Mortgage applications dip as rate increases in latest MBA survey
Mortgage applications dip as rate increases in latest MBA survey

“This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity.” — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan.

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