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Forbearances Trending Slightly Higher, Well Below 2020 Peak Levels

Freddie Mac on Track For 25% More Loans This Year, Most of Them...

New Home Sale Refuse to Back Down From 14-year highs

Refi Applications Hit 7 Month Highs

September Home Price Gains Blow Away Forecasts

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New Home Sales Still Soaring; Refi Apps Too; Mortgage Rates Little-Changed But The Fed Raises Some Doubts

Published: 11/25/2020

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MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

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Forbearances Trending Slightly Higher, Well Below 2020 Peak Levels

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by Jann Swanson on November 27 2020, 9:09 AM

Despite a second consecutive modest weekly increase , the number of loans in forbearance continue to trend well below those at the peak of the COVID-19 pandemic. Black Knight said there was an uptick of 27,000 loans in forbearance plans during the period...
Freddie Mac on Track For 25% More Loans This Year, Most of Them Refis

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by Jann Swanson on November 25 2020, 11:47 AM

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 25.7 percent in October compared to a 17.5 percent gain in September. The portfolio balance at the end of the period was $2.625 trillion compared to $2...
New Home Sale Refuse to Back Down From 14-year highs

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by Jann Swanson on November 25 2020, 10:35 AM

Sales of newly constructed single-family homes slipped slightly in October; the second month sales have declined. The U.S. Census Bureau and Department of Housing and Urban Development reported that the month's sales were at a seasonally adjusted annual...
Refi Applications Hit 7 Month Highs

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by Jann Swanson on November 25 2020, 8:08 AM

Refinancing increased its already overwhelming dominance of the mortgage market during the week ended November 20. The Mortgage Bankers Association (MBA) said the refinancing share of mortgage applications topped 70 percent and refinancing accounted for...
September Home Price Gains Blow Away Forecasts

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by Jann Swanson on November 24 2020, 10:13 AM

Annual price increases in September were quite literally off the charts . Both the S&P CoreLogic Case-Shiller National Index and the Housing Market Index from the Federal Housing Finance Agency (FHFA) recorded annual appreciation of at least 7 percent...
Pandemic Causing Almost Half of Americans to Consider a Move

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by Jann Swanson on November 20 2020, 12:04 PM

A recent survey by Lending Tree found that nearly half of Americans are thinking about moving in the not-to-distant future and it appears that the COVID-19 pandemic may be at least part of their motivation. Crissinda Ponder writes that the health crisis...
Delinquencies Fell in October, but Still Nearly Double Those Last Year

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by Jann Swanson on November 23 2020, 8:38 AM

Black Knight, in its "first look" at the month's loan data, says that mortgage delinquencies improved for the fifth consecutive month in October. The national delinquency rate fell another 3.3 percent from September to 6.44 percent, the lowest rate since...
Forbearance Totals Edge Up After Two Week Decline

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by Jann Swanson on November 20 2020, 10:23 AM

The forbearance plan rolls expanded slightly over the past week, reversing two weeks of falling numbers. Black Knight said the total of loans in approved plans, which had declined by 273,000 over the previous two weeks, rose by 30,000. This brings the...
Average Loan Taking Almost 2 Months to Close, But With Record Low Rates

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by Jann Swanson on November 19 2020, 1:23 PM

Ellie Mae said the interest rate across all closed loans dropped below 3 percent for the first time in the nine years the company has been tracking the data. Ellie Mae is now a part of ICE Mortgage Technology, a division of Intercontinental Exchange,...
Mortgage Regulator Finalizes Capital Requirement Rule

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by Jann Swanson on November 19 2020, 11:47 AM

The Federal Housing Finance Agency (FHFA) has reached another milestone as it tries to resolve the 12-year conservatorship of the GSEs. On Wednesday it released a new regulatory capital framework for Fannie Mae and Freddie Mac. The final rule, a revision...
Home Sales Defy Expectations, Crushing Another 14 Year Record

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by Jann Swanson on November 19 2020, 10:51 AM

The hot home sales market continued unabated in October. The National Association of Realtors® (NAR) reports that existing home sales grew for the fifth consecutive month and 72 percent of homes that sold were on the market for less than a month....
How Homeowners' Credit Profiles Impact Forbearance

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by Jann Swanson on November 18 2020, 1:11 PM

Freddie Mac has published research examining the characteristics of borrowers who took advantage of the availability of forbearance plans in the early part of the COVID-19 pandemic. Mortgage forbearance temporarily removes the obligation for borrowers...
Strong Construction Data Led by Single Family Homes

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by Jann Swanson on November 18 2020, 9:48 AM

Residential construction data for October was mixed. The U.S. Census Bureau and Department of Housing and Urban Development reported that the rate of permitting flattened and completions declined. Housing starts, usually considered the key number, continued...
MBA Expects 2020 Refis to Nearly Double 2019's

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by Jann Swanson on November 17 2020, 12:14 PM

The Mortgage Bankers Association's (MBA's) November 2020 economic forecast ups the ante from its rosy October version. Its revisions are due to the strong pace of home sales and low interest rates which continue to fuel a refinancing boom. MBA has increased...
Mortgage Application Volume Pulls Back Slightly, Purchases Still Strong

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by Jann Swanson on November 18 2020, 7:48 AM

Despite a healthy upward bump in purchase applications, overall mortgage volume declined last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, dipped 0.3 percent on a seasonally adjusted basis...

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