Mortgage applications decreased 3.9% from one week earlier, while rates decreased on all five types of loans last week, a full-reversal of the prior week’s increases in interest rates.
The analysis shows that first time homebuyers have a better shot at buying a home in low-priced markets, not just because of the lower price point but because on average buyers are putting down just 12% in those markets compared to 24% in high-priced markets
The focus from markets on the FOMC meeting this week is whether or not it will remove the word "patience" in guiding markets on when the Fed will begin increasing rates. Markets see patience suggesting the Fed isn’t ready to think about increasing rates
WestStar closed $1.5 billion of new loan originations in last year and the deal is aimed at growing the new company's mortgage origination business even more.
With the positive unemployment report this morning the momentary concern is the first rate hike has returned to June from later this year.
Three leaders from Tucson, Arizona-based NOVA Home Loans have just received one of the mortgage industry’s highest honors.