News From NAMB: March 26, 2018

Mar 26, 2018

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Mortgage rates recommence their upward trajectory
Mortgage rates resumed their ascent this week. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average inched up to 4.45 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.44 percent a week ago and 4.23 percent a year ago. Click here for more information.

Fed announces rate hike decision
The Federal Reserve’s governing board announced today that it was raising the benchmark interest rate, fulfilling the expectations of market watchers. Click here for more information.

Support consumer choice of mortgage providers on builder transactions!
Please sign our petition in support of Consumer Choice of Mortgage Providers on Builder Transactions! A prevalent issue across the country when dealing with our clients and builders is the issue of builder incentives and preferred and/or affiliate lenders. Click here for more information.

Freddie Mac: Homeowners rack up record amounts of equity
Home prices have continued to surge since the last recession, leaving homeowners with record amounts of home equity, according to Freddie Mac’s monthly Outlook for March. Click here for more information.

Home loan closing times tighten
The time to close all home loans tightened from 44 days in January to 42 days in February, according to new data from Ellie Mae. Click here for more information.

Valerie Saunders, CRMS is Executive Director of NAMB. She may be reached by phone at (202) 434-8250 or e-mail [email protected].

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Mar 26, 2018

Analysis and Data

Homes With Negative Equity Jump In Third Quarter

“I am surprised to have seen some of the increases in home prices," CoreLogic's chief economist says.

With home prices projected to enter a period of deceleration over the course of 2025 and 2026, a new report shows that the share of negative equity rose in the U.S. from the second quarter to the third quarter — the first quarterly rise since the fourth quarter of 2022. W...

People On The Move

Jason Lee New President Of The Loan Store

The former Flagstar Executive to steer The Loan Store through next phase of "aggressive growth"

The Loan Store, a leading wholesale mortgage lender, has tapped industry veteran Jason Lee to be its new president. With a career spanning more than two decades in the mortgage and banking industries, Lee is expected to bring expertise in capital markets, leadership, and ...