HousingWire’s mortgage news coverage spans the market and includes the coverage you need, from what your competition is doing to how they’re performing and what their future plans may be to the expert and analyst forecasts for how this unusual housing market will pan out in 2024 and beyond.
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The housing market’s rapid shifts — which have been spurred on by a combination of fluctuating mortgage rates, chronically low levels of inventory, confusion of whether an economic recession is just around the bend, and other unique factors, like a slew of bank collapses — are continuing to have an oversized impact on the mortgage industry, even as the Fed halts its interest rate hikes. Home prices grew in 93% of markets in the first quarter, mortgage rates have remained in the low-to-mid 7% range and purchase mortgage applications have remained below even spring of 2023’s modest figures. The Mortgage Bankers Association reported in May that the average independent mortgage bank lost $2,109 per loan in the fourth quarter of 2024 and many lenders are staring at an eighth consecutive quarterly loss, with the better positioned mortgage lenders having relied on mortgage servicing revenue to patch up losses elsewhere. Experts had hoped that the spring buying season would be the key to turning things around, but so far, the housing market remains in a slump. In turn, it’s perhaps more important than ever for industry professionals to stay in the loop on what’s happening within the mortgage industry. From industry insights to expert analysis and mortgage rate forecasts, HousingWire’s mortgage industry coverage can help keep you informed on the news you need the most, even in the most unusual of markets. Sign up here to get the latest in leading mortgage news delivered to your inbox each day.
Sep 06, 2024 By Connie Kim Mortgage rates didn’t change significantly Friday because a 25-bps cut by the Fed had already been priced in, loan originators told HousingWire.
