U.S. mortgage activity picks up as loan rates tumble: MBA

Mortgage rates forecast glenn McCullom July 18 Housing remains positive as uncertainty holds down rates: Fannie Mae Fannie Mae increased its mortgage origination forecast as lower interest rates, driven by economic uncertainty, will lead to more refinance activity, but other factors will continue to hold back home purchases.

U.S. mortgage applications rise as loan rates fall: MBA.. the Mortgage Bankers Association said on Wednesday.. propelled by a 3.2% rise in refinancing activity. Interest rates on 30-year.

The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $484,350) decreased to 4.50 percent from 4.60 percent.

With rates rising, mortgage applications continued to diminish, according to the latest data from the Mortgage Bankers Association. The market composite index — a measure of total loan application ..

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Mortgage rates climbed higher this week following long-term U.S. treasury yields. The movement of bonds usually is one of the best indicators of whether mortgage rates will rise or fall. When yields.

Added Kan, "Conventional refinances dropped slightly over the week, but there was a pick-up in government refinances, with fha activity. loans. The effective rate decreased from last week.

The MBA also noted that the average loan. U.S Dollar and U.S Treasury yields will provide mortgage rates with another move in the week. january retail sales figures kick off the week. Expectations.

Mortgage rates will continue to rise in 2019, reaching 10-year highs. Mortgage rates on 30-year, fixed rate loans have been less than 5 percent since the end of the recession, helping to buoy housing demand and keep monthly payments relatively cheap even as prices themselves rose. But those record-low rates will come to an end in 2019.

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In a significant milestone, non-banks originated more than half of the mortgage dollar volume in the U.S. during the third quarter, recent data shows. According to a report in the Wall Street Journal (WSJ), citing research from Inside Mortgage Finance, non-banks represented about 51.4% of loan dollars as of September – up from 46.0% in 2015.

 · Refinancers led the way, taking advantage of a 30-year fixed-rate mortgage that was 10 basis points lower than peaks in 2018. According to MBA Associate Vice President of Economic and Industry Forecasting, Joel Kan, “This drop in rates spurred a flurry of refinance activity, particularly for borrowers with larger loans, and pushed the average loan size on refinance applications to the.