Mortgage refinance booms are a thing of the past: MBA chief economist

Mortgage refinance booms are a thing of the past: MBA chief economist. The era of plentiful refinance volume is over for the foreseeable future, the result of mortgage rates remaining in a. Read More

"Mortgage rates inched back up last week, but remain substantially lower than they were in the second half of last year," said Mike Fratantoni, MBA Senior Vice President and Chief Economist."As.

June 2019 mortgage rates forecast (FHA, VA, USDA, Conventional). This event sent mortgage rates to the floor and spurred a mini refinance boom.. according to the Mortgage Bankers Association.

Higher Rates Hit Mortgage Apps After Last Week’s Epic Run – The rally in mortgage application volume that sent several of the Mortgage Bankers Association’s (MBA’s) metrics to recent highs at the end of March faded last week as interest rates reversed course..

 · For homeowners hoping to refinance, expect a longer and more rigorous process than a few years ago, mortgage bankers said. The “no-doc” loans of the last housing boom are gone.

Volatility defines first-quarter home sales, California takes big hit US California: Slumburbia. February 10, 2010 New York Times* By TIMOTHY EGAN. In Lathrop, Manteca and Tracy, California, among some of the world’s most productive farmland, you can find streets of foreclosed home, looking like a 21st century ghost town, with rock-bottom discounts on empty starter mansions.Southern Top Producers are less smitten by self-service mortgage tech National Mortgage News. Quicken Loans parent company beefing up Canadian investments; GE puts WMC Mortgage into bankruptcy as it faces $1.7B in settlements; southern top producers are less smitten by self-service mortgage tech; rising rates now affecting purchase mortgage application activity; ohio home sales slump in March, prices keep climbing

Two Rivers Title Company is a multi-state title agency and escrow company based in Little Silver, NJ.. Mortgage refinance booms are a thing of the past. Era of plentiful refinance volume is over according to Mortgage Bankers Association Chief Economist.. Keep Reading.

Pipeline: Refi Revival No Sure Thing, Despite the. – With interest rates approaching their lows for the year in recent weeks, the mortgage market may be experiencing, or be on the verge of, another refinancing boom.. Or maybe not. The latest figures from Freddie Mac, formally the Federal Home Loan Mortgage Corp., show that refinancings represented 32% of all loans in November, up from 26% in October and the year’s low of 19% in June.

The general rule of thumb is that the prevailing rates on the market need to be 50 basis points lower than a borrower’s current mortgage rate for a refinance to make sense, said Tendayi Kapfidze.

While risk on refinance transactions was unchanged from January 2018, it was down more than a percent on purchase-money transactions. "Rising mortgage rates reduce the benefit of refinancing and increase the share of purchase loan transactions in the market," First American Chief Economist Mark Fleming said in an accompanying statement.

Non-QM loans bend underwriting less than subprime did: DBRS Non-QM loans bend underwriting less than subprime did: DBRS Non-QM loans bend underwriting less than subprime did: dbrs securitized loans originated outside the Qualified-Mortgage rule’s parameters have looser underwriting guidelines than mainstream loans do today, but are more tightly underwritten than past subprime or alternative-A products.

"It is structurally a different mortgage market than we’ve seen in the past," MBA Chief Economist Mike Fratantoni said at the conference. "That long period of refi activity concentrated the entire market into a narrow band.