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Tariffs are Creating a Perfect Storm for Builders

Are Lenders Anticipating a Slowdown? Available Credit Falls 3...

Fraud Risk Decreases on a Wave of Refi Activity

Lenders See Demand and Profits Expanding, While Credit Tightens

Mortgage Apps Found Gains in a Holiday-Shortened Week

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Mortgage Rates' Week Goes From Bad to Worse

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Worst Week For Mortgage Rates Since 2016

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Rates Recover Modestly, But Uncertainty Remains Ahead of Fed Day

Published: 9/16/2019

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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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Banks Report Huge Improvement in Mortgage Profitability

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by Jann Swanson on August 30 2019, 8:22 AM

There was a dramatic turnaround for many mortgage banks in the second quarter as their production profits increased nearly six-fold compared to the previous period. The Mortgage Bankers Association (MBA) said the independent mortgage banks (IMBs) and...
Lower Rates Increased Affordability in July

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by Jann Swanson on August 29 2019, 1:14 PM

At least one housing index is seeing a turn-around in the direction of home prices . Black Knight says the continuing decline of interest rates have increased homebuying affordability. As a result, its ended 16 straight months of decelerating appreciation...
Freddie Says Housing Will Help to Stop Recession, Here's How

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by Jann Swanson on August 29 2019, 12:22 PM

Housing led the way into the last recession, now Freddie Mac's economists are suggesting it might help stave off the next one or at least modify its severity. In its August Forecast , the company says a deteriorating global economy and on-going US trade...
Pending Home Sales Winning Streak Leveled-Off in July

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by Jann Swanson on August 29 2019, 9:56 AM

Pending home sales moved lower in July, declining by 2.5 percent. After two consecutive months of gains the National Association of Realtors'® (NAR's) Pending Home Sales Index (PHSI), a leading indicator of existing home sales, was expected to decline...
Uptick in Housing Inventories May be Short-Lived

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by Jann Swanson on August 28 2019, 3:54 PM

The theme of every sales and price report for the last several years has been the shortage of homes for sale. While new home inventories have held steady over the six-month supply considered a balanced market, existing homes have hovered near record lows...
Homeownership is the Top Contributor to Household Wealth

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by Jann Swanson on August 28 2019, 10:44 AM

Two US Census Bureau researchers have determined that the biggest determinants of household wealth are owning a home and having a retirement account . While that may not be surprising, the degrees of magnitude are. Using data from the 2015 Survey of Income...
Rates Increase For First Time Since July, Application Volume Slips

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by Jann Swanson on August 28 2019, 8:09 AM

Mortgage rates increased last week and in response the volume of applications ratcheted down significantly. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, dropped 6.2 percent on a seasonally adjusted...
Home Price Gains Trending Down to "Sustainable Levels"

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by Jann Swanson on August 27 2019, 9:54 AM

Both the S&P CoreLogic Case-Shiller and the Federal Housing Finance Agency (FHFA) reported June price data on Tuesday. Both sets of indices showed the trend of decelerating prices continued into the summer, but appreciation in the FHFA index is still...
Refinance Share of Loan Activity Grew in July

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by Jann Swanson on August 27 2019, 8:33 AM

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 6.3 percent in July, increasing from 5.3 percent the previous month. The portfolio balance at the end of the period was $2.251 trillion compared to $2...
Appraisal Threshold to be Raised for First Time in 25 Years

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by Jann Swanson on August 26 2019, 8:32 AM

Increasing home prices are at the heart of a decision by the major federal regulatory agencies to raise the threshold for requiring a residential real estate appraisal for mortgages originated by their regulated institutions. When the rule become effective...
Millennials Differ in Housing Preferences, But Not by Much

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by Jann Swanson on August 23 2019, 12:30 PM

With the huge Millennial generation finally buying houses, the National Association of Home Builders has taken a deep dive into their various preferences for where and how they are going to live. Last year it conducted the fourth in a series of buyer...
Junes New Home Sales Revision Was a Post-Crisis Record

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by Jann Swanson on August 23 2019, 10:32 AM

The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes fell 12.8 percent in July to a seasonally adjusted annual rate of 635,000 units. Forecasts pinned that number at 645k. While missing the mark...
Treasury Report Sparks Rumors of Fannie/Freddie Liberation

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by Jann Swanson on August 22 2019, 2:14 PM

Sources are telling Bloomberg that a report on the White House's plan to release Fannie Mae and Freddie Mac (the GSEs) from their 11-year long conservatorship has landed on the desks of several agencies and is also in the hands of Lawrence Kudlow, head...
Loan Closing Rates Hit Record High

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by Jann Swanson on August 22 2019, 8:32 AM

There was a dramatic drop in the average note rate for loans originated in July and the refi share of those originations rose significantly. The July Origination Insight Report from Ellie Mae shows a seventh consecutive monthly drop in the 30-year note...
July Delinquency Rate Lowest in Almost 20 Years

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by Jann Swanson on August 21 2019, 3:51 PM

Black Knight said on Thursday that the national delinquency rate fell back by 7.27 percent in July , erasing last month's increase that was caused in party by the calendar. The new rate, 3.46 percent of all active mortgages, is the lowest of any July...

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