Volumes

MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.

Taylor Marr, Deputy Chief Economist for Redfin, recently sat down with MortgagePoint to discuss recent migration trends, the direction of the market, and much more. Click through to hear his insights on the state of the nation’s housing landscape.

Nearing levels last recorded in November 2022, Freddie Mac reports the fixed-rate mortgage rose 15 basis points week-over-week and edged closer to the 7%-mark.

Despite mortgage rates reaching their highest levels since November 2022, overall app volume rose week-over-week, led by an increase in both FHA and VA purchase applications.

The sales numbers may not be where lenders would like to see them yet, but people do want to buy, according to new research, and Matthew Woodhouse of ServiceLink breaks down what homebuyers are saying, and what lenders can do to win their business.

“Mortgage credit availability was essentially unchanged in June, remaining close to the lowest level since early 2013, as the industry continues to operate at reduced capacity,” said Joel Kan, Mortgage Bankers Association VP and Deputy Chief Economist.

In his new role overseeing First American’s corporate product development team, accomplished tech leader will lead enterprise product development, enhancing products serving customers across multiple divisions.

Redfin reports that—for the first time since August 2022—the average sale-to-list price ratio has surpassed 100%, with low inventory and steady demand driving up home prices nationwide.

“This upward trend is being driven by a resilient economy, persistent inflation, and a more hawkish tone from the Federal Reserve,” said Freddie Mac Chief Economist Sam Khater.

As the fixed-rate mortgage edges closer to 7% and still over a percentage point higher year-over-year, the MBA reports that overall mortgage application volume fell to its lowest level in a month.