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Worries over trade could affect mortgage application activity: MBA The trade dispute with China is likely to affect consumers’ willingness to buy a home and apply for a new mortgage loan, according to the Mortgage Bankers Association.
In spite of a slight uptick in purchase activity, the overall pace of mortgage applications fell again during the week ended June 29. The Mortgage Bankers Association’s (MBA’s) Market Composite.
The MBA obtains this data from weekly surveys of over 75% of all US retail residential mortgage applications handled by mortgage bankers, commercial banks, and thrifts. The rising interest rates make it more challenging for potential homebuyers to be able to afford the inflated home prices prevailing in many US housing markets.
Interest rates on other types of home loans MBA tracks were mixed from the previous week. mortgage rates have fallen in step with lower U.S. Treasury yields on worries about slowing economic growth and trade tension between China and the United States, the world’s two biggest economies.
During the Great Depression, New Deal policymakers came up with mortgage (home loans) and consumer lending policies that convinced commercial banks that: Consumer credit could be profitable True financial security is achieved when your money begins to generate an income–your money starts working for you.
Drop in housing starts shows industry may weigh on growth The coming week may tell whether the incessant plunge in global bond yields shows any signs of relenting. bad things are – the UK will also release retail sales and housing data. While growth is.Volume of Fannie Mae risk-sharing deals hits $2.6B in 2018 Freddie Mac’s risk-sharing success may help lower G-fees By Bonnie Sinnock Published May 01 2018, 2:44pm EDT If Freddie Mac’s credit-risk transfer activities continue to grow, mortgage lenders could eventually see a reduction in the guarantee fees they pay to the government-sponsored enterprise, according to CEO Donald Layton.
Clearly, a number of elements influencedaily shifts in the secondary-market mortgage yields that affect how a mortgage lender quotes borrowers in the primary market. It is not change itself that is the big risk, but it is the speed and direction of the change that can wreak havoc on pricing strategies and margins.
Brexit, trade disputes, and slowing global growth continue to be recurring factors causing concern. These pushed investors to safer US assets and caused rates to decline over the past month. Data indicating softer growth in Europe, primarily Germany, have been a main focus, with rates in Germany even dipping in negative territory for a period.
Mortgage application volume down, but refi activity remained high: MBA. Weekly refinance application activity rises to a three-year high. root-june 12, 2019. 0. Real Estate. Low rates drive refi mortgage applications, but purchases still lag. root-June 6, 2019. 0. Real Estate. Economic.
· MBA’s seasonally adjusted gauge on overall mortgage application activity decreased 3.5% to 459.0 in the latest week. It retreated further from a 2-1/2 year peak set two weeks ago.