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Mortgage Profits Decline but Remain Close to Record Levels

Mortgage originators’ profits remained strong in the fourth quarter of 2020, although they were down considerably from the previous period. The Mortgage Bankers Association’s (MBA’s) Mortgage Bankers Performance Report says that independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a net gain of $ 3,738 on each loan they originated during the […]

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Refinance Activity Broke an Almost 9-Year Record in February

It hasn’t exactly been a scramble, but homeowners have stepped up their refinancing activity over the last two months as they saw interest rates begin a slow but steady march higher.  The February Origination Insights Report from ICE Mortgage Technology shows the refinancing share of all loans originated during the month moved 1 point higher […]

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Housing Market Update: Home Prices Increased a Record 17%, Pending Sales Up 19% From a Year Earlier

The average sale-to-list price ratio passed 100% for the first time as home prices surge….(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Around The Web

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Still Cheaper to Own; Forbearance Improvement Slows; No More Record Low Rates?

In most parts of the country owning a home is more affordable than renting one according to ATTOM Data Solutions’ 2021 Rental Affordability Report . The company looked at the median price of a three-bedroom home in 915 U.S. counties and the rent for a comparable home and found owning more affordable 572 or 63 […]

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Mortgage Rates Closing Out The Year at Record Lows

For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments conspire to push rates just a bit higher in the next two days, but the damage would be insignificant in the bigger picture. In other words, we’re looking at “all-time low […]

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Home Prices Still Soaring; Rates Closing Out 2020 at Record Lows

For all practical purposes, the year is over when it comes to mortgage rate volatility. True, there is some small chance that political developments conspire to push rates just a bit higher in the next two days, but the damage would be insignificant in the bigger picture. In other words, we’re looking at “all-time low […]

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Rates Surprisingly Steady Despite Market Drama; Home Price Gains Break 6 yr Record

Like many industries, housing finance has a superficial layer that’s fairly easy to understand for the average consumer. A person wants a home. They don’t want to pay cash. They get a loan. Lower rates = lower payments. The end. Shortly below that superficial layer of understanding, where a surprisingly high percentage of mortgage professionals […]

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Existing-Home Sales Continue Record Pace, Soar 24.7% in July

Existing-Home Sales Soar 24.7% in July Each of the four major regions attained double-digit, month-over-month increases, with the Northeast and West seeing the greatest sales growth. Media Contact:  Quintin Simmons 202-383-1178

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