Archive for the ‘Trends’ Category

National Credit Default Rates Rise Slightly in September

Wednesday, October 22nd, 2014

Credit Cards Pic

Data through September 2014, released by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed an uptick in default rates. The national composite posted 1.04 percent in September, up three basis points from July 2014’s historical low. For the second consecutive month, the first mortgage default rate rose, to 0.93 percent in September.Click to continue

Refi Apps Begin to Gain Steam

Wednesday, October 22nd, 2014

House Atop Money/Credit: Creatas

Mortgage applications increased 11.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 17, 2014. This week’s results did not include an adjustment for the Columbus Day holiday.Click to continue

Study Finds More Than 17 Percent of Appraisals Report a Value Less Than Contract Price

Tuesday, October 21st, 2014


More than 17 percent of appraisals on purchase transactions were found to report a value less than the value of the contract price.Click to continue

Zillow Mortgages: Fixed-Rates Remain Below Four Percent

Tuesday, October 21st, 2014

House for Sale/Credit: Creatas

The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently at 3.81 percent, unchanged from this time last week. The 30-year FRM hovered around 3.85 percent for most of the week, dropping to 3.70 percent Wednesday before rising to the current rate.Click to continue

Existing-Home Sales Bounce Back in September

Tuesday, October 21st, 2014

For Sale Sign/Copyright: Getty Images/Credit: Hemera Technologies

After a modest decline last month, existing-home sales bounced back in September to their highest annual pace of the year, according to the National Association of Realtors (NAR).Click to continue

New Credit for Revolving Home Equity Loans Rises More Than 21 Percent Year-Over-Year

Monday, October 20th, 2014

Home Block Wood/Credit: Phil Ashley

Equifax has announced its latest National Consumer Credit Trends Report, the total balance of new credit for revolving home equity loans year-to-date in July 2014 is $65.9 billion, a six-year high and a year-over-year increase of 21.4 percent.Click to continue

Commercial/Multifamily Mortgage Debt Outstanding Rises in Q2

Sunday, October 19th, 2014

Commercial and Multifamily Property

According to the Mortgage Bankers Association (MBA), the level of commercial/multifamily mortgage debt outstanding increased by $24.9 billion in the second quarter of 2014, as three of the four major investor groups increased their holdings.Click to continue

U.S. Housing Production Rises 6.3 Percent in September

Sunday, October 19th, 2014

Housing Rise/Credit: Comstock Images

For the third time this year, nationwide housing starts surpassed the million-mark, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Total housing production in September rose 6.3 percent to a seasonally adjusted annual rate of 1.017 million units.Click to continue

Tomorrow’s Mortgage Space (Part III)

Friday, October 17th, 2014


In this third and final installment of our look into the industry’s near future, we consider the product trends and operational concerns that will dominate the mortgage profession.

What will next year’s potential borrowers pursue? If this year’s trend is any indication, jumbo mortgages will continue to be very popular in 2015.Click to continue

Multifamily Lending Hits New Record Levels

Friday, October 17th, 2014


In 2013, 2,898 different multifamily lenders provided a total of $172.5 billion in new mortgages for apartment buildings with five or more units, according to a report from the Mortgage Bankers Association (MBA). The 2013 dollar volume represents an 18 percent increase from 2012 levels.  Sixty-two percent of the active lenders made five or fewer multifamily loans over the course of the year.Click to continue