Tag Archives: Drops

Total mortgage demand drops 1.2%, hovering at 22-year low

ShareShare Article via FacebookShare Article via .Share Article via LinkedInShare Article via E. CNBC’s Diana Olick joins ‘Squawk Box’ to break down the latest weekly mortgage application data from the Mortgage Bankers Association. 01:53 Wed, Aug 24 20227:58 AM EDT source

Slammed with poaching suits, CrossCountry Mortgage drops its own

CrossCountry Mortgage is dropping its attack and playing defense in a series of poaching lawsuits with three competitors in federal courts. The Brecksville, Ohio-based lender late last month agreed to dismiss its lawsuit against Guild Mortgage in the U.S. District Court of the District of Nevada. A former CrossCountry branch manager diverted loans to Guild […]

Mortgage demand drops to lowest level in 22 years

The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last week compared with the previous week, hitting the lowest level since 2000, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications for a mortgage to purchase a home […]

Housing market continues cooldown as new home construction drops

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House construction drops for first time since May 2020

The housing sector posted a reading of 49.3 last month, below the 50.0 no-change mark, signalling the first fall in residential work since May 2020. Chartered Institute of Procurement & Supply group director Duncan Brock says: “Residential building levels fell for the first time since May 2020, and builders are getting an increasingly stark vision […]

Homebuilder sentiment drops to lowest level in 2 years as housing demand slows

A contractor frames a house under construction in Lehi, Utah, U.S., on Wednesday, Dec. 16, 2020. Private residential construction in the U.S. rose 2.7% in November. George Frey | Bloomberg | Getty Images Sentiment among the nation’s homebuilders fell for the sixth straight month to the lowest level since June 2020, when the economy was […]

Mortgage origination activity drops to a 22-year low

The mortgage industry’s 2022 slide in originations continued, with numbers falling last week to levels not seen since the Clinton administration, according to the Mortgage Bankers Association. The MBA’s Market Composite Index, a measure of mortgage activity based on surveys of association members, dropped a seasonally adjusted 6.5% for the weekly period ending June 3. […]

Forbearance rate drops below 1%, lowest level since June 2020 The total number of loans in forbearance decreased by 11 basis points to 0.94% in April

Servicers’ forbearance portfolio volume dropped in April to a level below 1%, with fewer than half a million borrowers remaining with an active plan, according to the monthly Loan Monitoring Survey conducted by the Mortgage Bankers Association (MBA). That’s good news after the economic impacts of the Covid-19 pandemic hit borrowers hard, making it difficult for Americans to pay their mortgages. […]