Market Update

HomeMarket Update

Prepayments at 3-year high, delinquencies recover from spike by Steve Randall
July mortgage performance looks good for July
Mortgage applications weakened as rate declines slowed by Steve Randall
Refinance applications saw small rise while purchase apps dropped

Fannie Mae expects 2 more rate cuts, continued refi growth by Steve Randall
The GSE has also given its outlook for the economy
More people were buying new homes in July by Steve Randall
Mortgage applications through builders’ lending subsidiaries jumped
Guaranteed Rate hit a new record high for production last month by Steve Randall
Total funded volume in July was best in lender’s near-20-year history

Lowest rates in almost 3 years prompted refi surge by Steve Randall
MBA’s Refinance Index jumped 37% last week
Rents are rising for multifamily but there is some risk for the market by Steve Randall
Economic conditions could mean volatility for the sector
In a competitive mortgage market a negative rate should cut through by Steve Randall
One Danish bank is taking the competitive mortgage market to new limits

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