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The housing market’s rapid shifts — which have been spurred on by a combination of fluctuating mortgage rates, chronically low levels of inventory, confusion of whether an economic recession is just around the bend, and other unique factors, like a slew of bank collapses — are continuing to have an oversized impact on the mortgage industry, even as the Fed halts its interest rate hikes. Home prices grew in 93% of markets in the first quarter, mortgage rates have remained in the low-to-mid 7% range and purchase mortgage applications have remained below even spring of 2023’s modest figures. The Mortgage Bankers Association reported in May that the average independent mortgage bank lost $2,109 per loan in the fourth quarter of 2024 and many lenders are staring at an eighth consecutive quarterly loss, with the better positioned mortgage lenders having relied on mortgage servicing revenue to patch up losses elsewhere. Experts had hoped that the spring buying season would be the key to turning things around, but so far, the housing market remains in a slump.
In turn, it’s perhaps more important than ever for industry professionals to stay in the loop on what’s happening within the mortgage industry. From industry insights to expert analysis and mortgage rate forecasts, HousingWire’s mortgage industry coverage can help keep you informed on the news you need the most, even in the most unusual of markets. Sign up here to get the latest in leading mortgage news delivered to your inbox each day.
Mortgage News
2024 battleground state likely to be influenced by senior voters: AARP
May 15, 2024Pennsylvania, a key battleground state, is poised to be heavily influenced by older voters. Aging in place is an issue on their minds.
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HUD announces $1.1B to fund tribal housing and community development
May 15, 2024 -
CHLA: Here’s how to modernize ‘short-changed’ Ginnie Mae
May 15, 2024 -
The long road to remote reverse mortgage counseling in Massachusetts
May 15, 2024 -
Mortgage applications rise slightly as rates decline for second straight week
May 15, 2024 -
VantageScore releases new credit-scoring model
May 15, 2024 -
Freddie Mac’s controversial gambit into home equity: Is more liquidity a bad thing?
May 15, 2024 -
The mortgage rate lock-in didn’t start in 2022
May 15, 2024
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Get Smart on the Mortgage Rate Lock-In Effect
May 09, 2024Join us May 17th as we dive into the mortgage “lock-in” effect: the phenomenon where homeowners with low mortgage rates are unwilling to sell and purchase another home at much higher rates. This HousingWire Subscriber Exclusive Webinar will explore and explain proprietary a HousingWire Research project which analyzes the root causes and implications of lock-in. […]
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HousingWire Research: The Mortgage Rate Lock-In Effect is Shaping Today’s Market
May 09, 2024The mortgage rate “lock-in” effect has been hotly debated. Experts have vehemently disagreed on the timing, drivers and implications of mortgage rate lock-in. This effect is explained as a phenomenon where homeowners with low mortgage rates are unwilling to sell and purchase another home with elevated mortgage rates. That we can agree on. But what […]
