Mortgage refinance booms are a thing of the past: MBA chief economist

Very slight increase in mortgage application volume this week The market composite index, a measure of mortgage loan application volume, gained 5% on a seasonally adjusted basis from one week earlier.. Despite the increase in the refinance index last week.Declining mortgage rates drive refis and new-home purchases Purchase applications increased 9 percent while refinancing requests jumped 17.2 percent last week as average 30-year mortgage rates fell 0.08 percentage point to 4.95 percent. “Mortgage applications.

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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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Mortgage Lender Profitability and Its Impact on Market Spreads .. June 21, 2016 (This article, written by MBA Chief Economist Michael Fratantoni, During the recent 2012-2013 refinance boom, which included a substantial portion of Home Affordable Refinance Program loans, profit margins.

We are currently in the middle of a double dip refinance, said David Adamo, chief executive of Luxury Mortgage in Stamford, Connecticut.. according to the Mortgage Bankers Association.

Mortgage refinance booms are a thing of the past: MBA chief economist. The era of plentiful refinance volume is over for the foreseeable future, because mortgage rates remained in a very narrow band for the past decade,

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Mortgage application. has been clearly apparent in the past few weeks with double and even triple digit percentage changes in refinance application volume for jumbo loans," said Mike Fratantoni,

Duncan, the MBA economist, says boom status won’t be conferred unless mortgage rates remain around 7 percent or dip lower than that for six months or so. The MBA is predicting that mortgage rates will average about 7 percent for the year, so "it should be a big year for refinancing," Duncan says.

Others say the memory of mortgage lenders done in by easy-credit policies during the boom is still vivid. availability of low-down payment loans,” said Mike Fratantoni, chief economist and a senior.

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