Bidding War Competition Drops

Although the nation’s low-interest rates continue to drive purchasing demand, a report from Redfin indicates America’s bidding competition weakened in October.  According to the company, 10% of purchasing offers made on its site faced a bidding war during the month. Not only is this percentage down from last year’s rate of 39%, but it also marks a 10-year-low. […]

The Latest in Mortgage and Real Estate Technology

Black Knight, a provider of integrated software, data and analytics to the mortgage and real estate industries, announced the launch of its Regulatory Assist solution. Regulatory Assist, which integrates directly with the Black Knight Empower loan origination system, as well as other loan origination platforms, is designed to help clients streamline the compliance-testing process and make […]

Household Debt Hits New High

Low interest rates are crimping net interest margins, but bankers can take some comfort in the fact that falling rates are stimulating consumer demand for mortgages and car loans.  A report on household debt and credit released Wednesday by the Federal Reserve Bank of New York and Equifax showed that mortgage originations in the third […]

Millennials Continue to Outpace Older Generations in Homebuying

Continuing a trend that stretches back to one year ago, Millennials are still dominating the homebuying landscape, taking on more mortgages than previous generations.  A report from says that at the end of the third quarter, the Millennial share of mortgage originations increased 3% from last September, coming in at 46%. Meanwhile, Gen X and Baby Boomer shares […]

VA Mortgage Lending Increases

The dollar volume of mortgages guaranteed by the Department of Veterans Affairs rose nearly 9% in the past fiscal year as interest-rate reduction refinancing loans surged nearly 75%. VA mortgages totaled $175.6 billion in the 12 months leading up to Sept. 30, 2019. While this marks an increase from the almost $161.3 billion in VA […]

Mortgage Rates Fall but Could Turn Direction on Trade News

Mortgage rates fell for the first time in four weeks, although given investor optimism over better economic news, it might be a blip, according to Freddie Mac. While rates on the 30-year fixed loan fell 9 basis points this past week, a different tracker released by Zillow rose 13 basis points in the same period. […]

Home-Price Gains Accelerated as Borrowing Costs Fell

Home-price growth is accelerating again. Give credit to this year’s plunge in mortgage rates. In the third quarter, the median price of an existing single-family home in the U.S. was $280,200, up 5.1% from a year earlier, the National Association of Realtors said in a report Thursday. By comparison, the annual gain in the second […]

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