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Mortgage News
We help you stay up to date with the latest news in the mortgage industry.
Current
Mortgage News
Rate Rally Reverses, But Focus on Bigger Picture
This week is ending with the average top tier 30yr fixed mortgage rate at its lowest level since early October, 2024. The only way to be disappointed about that would be to focus on the fact that rate...
Mortgage Applications Ebbed This Week, But Next Week Could Be a Different Story
The Mortgage Bankers Association (MBA) released the latest mortgage application data this week showing a modest 1.6% decrease from the previous week. A slight uptick in purchase applications was...
Subservicer, Non-Agency Products; Trigger Leads, HECM, FHA News; Does a Slow Economy Equal Lower Rates?
Ahead of next week’s MBA Advocacy event in Washington DC, I received this note from an industry vet. “With the continued consolidation into the large non-banks, are you hearing any rumbling about the ...
Lowest Mortgage Rates in More Than 5 Months
Yesterday afternoon's tariff announcement sent financial markets on a ride that ultimately resulted in sharply lower stock prices and moderately lower bond yields. Stocks don't always correlate with b...
Hedging, HMDA Dashboard, Verification Tools; Correspondent and Wholesale News: Battle of The Titans
The Chinese curse, “May you live in interesting times” can easily be applied to the residential mortgage business in the last month or so. This week and yesterday was no exception, with some brokers b...
Mortgage Rates Edge Slightly Higher, But Tomorrow is Anyone's Guess
Mortgage rates didn't move much today, which is pretty crazy considering the volatility present in financial markets in the afternoon. That's when the long awaited tariff announcement speech too...
HELOC, Credit Union, Non-QM Products; Wholesale, Reverse, Vendor Partnership News
Does anyone use the term “elderly” anymore? Websters defines elderly as “anyone past middle age,” “middle age” being 45-64. Prepare for a fight if you call anyone 65 “elderly” especially when places l...
Lowest Mortgage Rates in Nearly a Month
While interest rates continue operating in a range that is generally flat and narrow over the past 5 weeks, it's also true that today's rates are on the lower edge of that range. Because there's not m...
Angel Oak/Brookfield Deal and More Mergers; Audit, POS, Non-QM, Automation Tools ; Webcasts and Training This Week
This ain’t no April Fools economic news: not only has Hooters declared bankruptcy, but apparently there is yet another push to have credit unions pay income taxes. “Right now, leaders in Congress are ...
Mortgage Rates Inch Lower, But Remain Broadly Sideways
"Sideways" has been the dominant theme for mortgage rates for well over a month now. The average top tier 30yr fixed rate fell below 6.82% on February 25th, and moved down to 6.70% the following week....
Non-QM Products; Rocket/Mr. Cooper Deal; Disaster and Climate News; Tariff Impact Looms
It’s been three years since Credit Plus re-branded as Xactus, and now another name brand in the mortgage world has a new name. Corelogic has become Cotality, leading to plenty of puns like, “If First ...
Mortgage Rates Move Lower Even Though They Weren't Supposed To
First thing's first before anyone gets too excited: yes, rates fell on Friday, but not significantly. The average lender is still a bit closer to the higher end of the recent range. In addition,...
Pending Home Sales Crack Half-Hearted Smile Amid Longer Term Depression
The National Association of Realtors' Pending Home Sales Index (PHSI) tracks purchase contract signings that have not yet turned into Existing Home Sales. Things haven't been going well for either sal...
Purchase Applications Improve; Refinancing Ebbs
This week's update on refinance application demand accurately reflects the fact that rates came into the week near their recent highs, but managed to fall in line with recent lows several days later. ...
New Home Sales Should Come With a Warning
It's not uncommon for certain medications to come with warnings about avoiding certain activities like driving or operating heavy machinery due to the risk of drowsiness. But medications aren't the on...
Home Price Growth Remains Drama-Free
There are two dominant home price indices released each month in the U.S. The Federal Housing Finance Agency (FHFA) is responsible for the most all-inclusive tally of home prices via its Home Pr...
Correspondent, Non-QM Training, HELOC Programs; Education, Webinars, and Events; PCE vs. CPI Primer
“What is the difference between the government and organized crime? Only one of them is organized.” (Suitable for any administration.) Government policy, economics, and technology have been the three ...
Mortgage Rates Steady to Slightly Higher
With the exception of Monday, which saw a medium-sized uptick in mortgage rates, the rest of the week has been fairly calm in terms of volatility. Unfortunately, the low-volatility movement has been e...
POS, Pricing, Video Compliance Tools; FHA Shift on Residency Requirements; CFPB and Townstone Settlement
Here in San Diego at the MCT Exchange 2025, with nearly 500 registrants, the agenda’s keynote speaker and one of the panels was composed of Fannie and Freddie employees. Well, policy changes have caus...
Mortgage Rates Hold Steady Near Recent Highs
It depends what one's definition of "recent" is, but if it involves the past few weeks, mortgage rates were at their highest recent levels both yesterday and today. 2 other days in that window w...
Correspondent Product; Pulte's FHFA Changes and Non-QM Investors; Capital Markets
Anyone who thinks politics doesn’t impact residential lending isn’t, frankly, paying attention. Let’s start with something simple, like… interest rates. Rates, including mortgage rates, are influenced...
Mortgage Rates Modestly Higher on Average, But Some Lenders Are Lower
One of the key principles of mortgage rate movement has to do with the frequency of mortgage rate changes. Specifically, mortgage lenders prefer to update rates once per day. This is notable bec...
Customer Experience, Internal Audit, Pre-Approval Tools; CFPB Still Here; FHA, USDA Changes
This week I head to San Diego for MCT Exchange 2025, and my email has been heating up. “Rob, are you hearing about a big jump in lock volume last week?” Yes… it may not be just you. As they say, a ris...
Mortgage Rates Slightly Higher to Start New Week
The average mortgage lender raised rates modestly on Monday morning--a logical move considering the weakness in the bond market over the weekend. Rates are based directly on bonds. Bond "weaknes...
VA Joint Loans, Non-QM, HELOC, Private Label Products: Top 50 Lenders in 2024; Deep Dive on Rates
“A government survey has shown that 91 percent of illegal immigrants come to this country so that they can see their own doctor.” On a more serious note, a Clever survey of real estate agents found th...
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