HousingWire’s mortgage news coverage spans the market and includes the coverage you need, from what your competition is doing to how they’re performing and what their future plans may be to the expert and analyst forecasts for how this unusual housing market will pan out in 2024 and beyond.
Top Stories
Receive updates when we release new Mortgage content.
By subscribing you agree to the terms of HW Media’s Privacy Policy. You may receive updates and special offers from HW Media affiliates and can unsubscribe at any time.
Expectations that the Federal Reserve would cut rates at its September meeting narrowed mortgage spreads and dramatically aided affordability issues in the housing market. Mortgage rates, which had been north of 7% for much of 2024, fell to the low-to-mid 6% range starting in early September on the expectation that the economy has sufficiently weakened and a new monetary policy would soon be in effect. The Fed on Sept. 18 lowered the benchmark rate by 50 basis points and is expected to lower rates two more times in 2024 as the 2% inflation target goal moves into focus. Refinances and overall mortgage applications have reached their highest level in more than two years, with more than half of applications being refis. The Mortgage Bankers Association reported in September that the average independent mortgage bank turned a $693 profit per loan in the second quarter of 2024 and about 78% of lenders were profitable. Quarterly volume picked up, as did productivity and the closings-to-applications pull through, which helped lower production costs by about $1,800 per loan. While existing-home sales continue to lag historical levels, inventory is now above 2019 levels in some key markets, particularly in areas of Texas and Florida. Home prices grew again in Q2, but the pace of price increases has fallen.
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
How the “lavish” comp and perks NAR leaders enjoy compares to other housing trade groups
Nov 20, 2024NAR’s volunteer leaders receive financial benefits that no other nonprofit in the housing space—including the MBA—comes close to matching, 990 filings reveal.
-
Fannie Mae’s new version of DU to focus on credit risks
Nov 20, 2024 -
Rate announces revamp of reverse mortgage division with industry veterans
Nov 20, 2024 -
10.5 million borrowers at or over age 65 still have forward mortgages
Nov 20, 2024 -
Credit reports will be at least 20% more expensive in 2025, frustrated mortgage execs say
Nov 20, 2024 -
FHA wants added flexibilities for borrowers renting out a bedroom
Nov 20, 2024 -
HSBC commits $25M to NCRC partnership following redlining allegations
Nov 20, 2024 -
Momentum Builder buys Sales Mastery, creating new ‘super brand’
Nov 20, 2024
Featured White Papers
Elevating mortgage servicing through strategic outsourcing: A path to efficiency and growth
May 17, 2024As the mortgage sector navigates through complex market dynamics, the primary objectives for many organizations remain the same: master cost efficiency, ensure the delivery of high-quality service, and effectively scale operations. Outsourcing activities to specialized providers continues to be a primary strategy for achieving such goals. This white paper discusses how lenders and servicers can:
