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Profit margins increased for mortgage lenders in the third quarter of 2015. The Mortgage Bankers Association (MBA) said independent mortgage banks and subsidiaries of chartered banks responding to its quarterly survey reported a net gain of $1,773 on each loan they originated during the quarter, up from $1,686 in the second quarter. "Including all business lines, 94 percent of mortgage lenders in our study reported pre-tax net financial profits in the third quarter of 2016, compared to 90 percent in the second quarter of 2016," said Marina Walsh, MBA's Vice President of Industry Analysis. "An increase in production volume and slight decrease in expenses in the third quarter kept production profits relatively stable. These profits would have been even higher were it not for a decline in net
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Housing News
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Profit margins increased for mortgage lenders in the third quarter of 2015. The Mortgage Bankers Association (MBA) said independent mortgage banks and subsidiaries of chartered banks responding to its quarterly survey reported a net gain of $1,773 on... (read more) |
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Housing News
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Mortgage application activity was essentially flat on a seasonally adjusted basis during the week ended December 2 while swinging broadly on a non-seasonally adjusted basis as business recovered from the previous week and the Thanksgiving holiday. Th... (read more) |
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Rob Chrisman
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Today is the 75th anniversary of the Japanese attack on the U.S. naval base at Pearl Harbor in Hawai’i where 2,403 Americans died and 1,178 were wounded. There are those that believe that ghosts still haunt “Pearl” but there modern ... (read more) |
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Mortgage Rate Watch
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Mortgage rates barely budged today, with most lenders offering the exact same quotes as yesterday. While we have seen a few days with similar day-over-day results recently, most of those involved intraday 'reprices' (i.e. lenders changing rates in th... (read more) |
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MBS Commentary
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From time to time, we see various financial markets take a "lead-off." Just like in baseball, the lead-offs occur because the base-runner knows where he wants to go and is better served by taking a few steps in that direction, just in case wh... (read more) |
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MBS Commentary
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Today's bond market trading range was the narrowest since the US presidential election, by far. 10yr yields held inside a paltry 2.9bp range (2.374 to 2.403%)-- nearly twice as calm as the next calmest day (Nov 22nd, which held a 5bp range).... (read more) |
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