Tagged: Mortgage Bankers Association (MBA)

Conventional, FHA loans drive increase in purchase applications

Lenders generated a pre-tax net profit of $701 on each loan originated in the third quarter, MBA reports

Not responsible for the uptick were mortgage rates, which reached their highest level since July last week

Improved profitability expected for largest nonbank mortgage lenders — if higher origination volumes actually materialize.

CAR expects home prices to soften as inventory rises and competition cools

Sales remained steady leading up to Election Day

The MBA's weekly index decreased for the fifth consecutive week as mortgage rates have risen nearly 70 basis points in that period

MBA RIHA updated report notes 'housing supply is being impacted by increased life expectancy'

Purchase acquisition volume increased to $80 billion in the third quarter from $74.5 billion in the second quarter.

As lock-in effects persist, an era of concentrated demand among first-time homebuyers overlaps with an era of increasing unaffordability.