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MBA Forecasts $1.19 Trillion in Originations in 2015

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The Mortgage Bankers Association (MBA) has announced that it expects to see $1.19 trillion in mortgage originations during 2015, a seven percent increase from 2014. While MBA anticipates purchase originations will increase 15 percent, it expects refinance originations to decrease three percent.Click to continue

Velocify Announces New CRM Tool

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Velocify, a provider of cloud-based intelligent sales automation software, has announced it is now offering to mortgage lenders Velocify for Salesforce, a unique application that integrates high-velocity sales tools into the market-leading CRM technology.Click to continue

Refi Apps Begin to Gain Steam

House Atop Money/Credit: Creatas

Mortgage applications increased 11.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. 17, 2014. This week’s results did not include an adjustment for the Columbus Day holiday.Click to continue

Zillow Mortgages: Fixed-Rates Remain Below Four Percent

House for Sale/Credit: Creatas

The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently at 3.81 percent, unchanged from this time last week. The 30-year FRM hovered around 3.85 percent for most of the week, dropping to 3.70 percent Wednesday before rising to the current rate.Click to continue

New Credit for Revolving Home Equity Loans Rises More Than 21 Percent Year-Over-Year

Home Block Wood/Credit: Phil Ashley

Equifax has announced its latest National Consumer Credit Trends Report, the total balance of new credit for revolving home equity loans year-to-date in July 2014 is $65.9 billion, a six-year high and a year-over-year increase of 21.4 percent.Click to continue

U.S. Housing Production Rises 6.3 Percent in September

Housing Rise/Credit: Comstock Images

For the third time this year, nationwide housing starts surpassed the million-mark, according to newly released figures from the U.S. Department of Housing & Urban Development (HUD) and the U.S. Census Bureau. Total housing production in September rose 6.3 percent to a seasonally adjusted annual rate of 1.017 million units.Click to continue

Fixed-Rates Hit Lowest Mark Since June 2013

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Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates hitting new lows for the year as 10-year bond yields briefly dipped below two percent. At 3.97 percent the average 30-year fixed rate is at its lowest level since the week of June 20, 2013 when it averaged 3.93 percent. This was also the last time the 30-year fixed averaged below four percent in the PMMS until this week.Click to continue