National Mortgage News

Nonprime RMBS modifications trend upward as forbearance recedes | National Mortgage News

February 2, 2022 by Bobby Chaim ( Trending)

Fitch-rated bank servicers recorded a particularly high nonprime-loan modification rate at 40%, up from 10% a year ago, in line with widespread expirations of pandemic-related payment suspensions. Loans in the heterogeneous private-label residential mortgage-backed securities sector haven’t generally been afforded the same standardized payment relief as the government-related market, but servicers handling the former have […]

Housing market bidding wars hit 12-month low | National Mortgage News

January 18, 2022 by Bobby Chaim ( markets)

Based on preliminary data, 59.6% of home offers written by the company’s agents faced bidding wars in December down from a revised rate of 61.3% in November, but up from 54% in December 2020. Meanwhile, home price growth is expected to moderate throughout 2022 as higher interest rates pull some people from the market, a […]

How inflation is changing consumer views on the housing market | National Mortgage News

December 31, 2021 by Bobby Chaim ( markets)

Rising inflation is affecting both home buyers and sellers, causing most to either accelerate or slow their activity. Among sellers, 10% said rising inflation led them to move their activity forward, while 7% responded that it was on hold and 3% cancelled. Approximately one-quarter of respondents looked to make a shorter commute to work, while […]

Mortgage lender optimism fades as more normal market looms

December 15, 2021 by Bobby Chaim ( markets)

Immediately following the Fed’s announcement, the MBA had not changed its forecast for a rise in mortgage rates from just above 3% to 4% by year-end 2022. Even before the Fed’s announcement, nearly two-third of respondents to Fannie Mae’s latest quarterly lender survey were already expecting profits margins to drop, up from 46% the previous […]