Eight weeks ago, it appeared that the days of 30-year fixed rate mortgages at less than 4 percent were a thing of the past. But recent economic uncertainty. rate hike,” Sean Becketti, Freddie Mac.
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.
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
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Several banks have revved up efforts in mortgage lending, even as others have headed for the exits.. 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.
Last year’s ratio was originally calculated at 2.09% as the fund took a hit from reverse mortgage losses. The FHA is required by law to maintain a buffer of at least 2%. The economic net worth of the FHA’s mutual mortgage insurance fund increased to $34.86 billion, which is almost $10 billion more than the figure reported last year.
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That\’s jolting compared to the past couple. a recovering job market, mortgage applications have been decreasing,” Mike Fratantoni, chief economist for the Mortgage Bankers Association, said.
Just months ago, low mortgage rates seemed a thing of the past. reversing the pattern that has been in place for most of the past 3 years," said Mike Fratantoni, MBA’s chief economist. "One.
The era of plentiful refinance volume is over for the foreseeable future, the result of mortgage rates remaining in a very narrow band for the past decade, said Mortgage bankers association chief economist mike fratantoni. The unexpected drop in mortgage rates since last November was "incredibly positive" for the home purchase business following the rapid [.]