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The volume of mortgage applications reversed direction last week, pulling out a small gain after three straight weeks of declines. The Mortgage Bankers Association's (MBA's) Weekly Mortgage Applications Survey for the week ending September 4, was up 2.9 percent on a seasonally adjusted basis and 2.0 percent unadjusted compared to the previous week. The Refinancing Index, which had fallen a cumulative 18 percentage points over the previous three weeks, gained 3 percent and its share of mortgage activity rose to 63.1 percent from 62.5 percent of applications. The Refinancing Index was 60 percent higher than the same week in 2019, but that week had included the Labor Day holiday. The seasonally adjusted Purchase Index increased 3 percent from one week earlier and was 0.2 percent higher on an unadjusted
Rob Chrisman
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Tom Petty sang, “There's somethin' good comin,' just over the hill, somethin' good comin', I know it will. And I'm in for the long run, wherever it goes, ridin' the river, wherever it goes .” Lenders always walk a knife-edge between wanti... (read more)
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Housing News
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The volume of mortgage applications reversed direction last week, pulling out a small gain after three straight weeks of declines. The Mortgage Bankers Association's (MBA's) Weekly Mortgage Applications Survey for the week ending September 4, was up ... (read more)
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Housing News
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While servicing income was down, independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks had a very profitable second quarter. They reported an average net gain of $4,548 on each loan they originated, up from a reported gain of... (read more)
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Housing News
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The second quarter of this year was a miserable on many levels, but mortgage origination volume was not one of them. Black Knight's current Mortgage Monitor reports that the second quarter saw the largest quarterly origination volume since the compan... (read more)
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Mortgage Rate Watch
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Almost everywhere you look, low mortgage rates are in the news. Experts are claiming they'll remain low or move lower for years to come. They might be right! But that doesn't necessarily mean you should wait to refinance or to lock your rate if you'r... (read more)
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MBS Commentary
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It Could Have Been a Lot Worse
Although the bond market definitely had its own reasons to weaken last Friday, stocks have been making big enough moves to complicate things. Simply put, we've had to wond... (read more)
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