“Despite higher mortgage rates, purchase applications had a strong week, mostly driven by a 6% increase in conventional loan applications.” — MBA associate vice president of economic and industry forecasting Joel Kan

Banosian has funded $2 billion in total loan volume this year, becoming the company’s first loan originator to reach that milestone.

Company officials say the organizational changes will support the company’s record-setting growth.

“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan

At the same time, the increase in interest rates drove fewer borrowers to refinance their loans, according to the Mortgage Bankers Association.

The Low-Income First Time Homebuyers Act (LIFT) establishes a program to sponsor 20-year mortgages that would build equity at twice the rate of a conventional 30-year mortgage.

The 30-year fixed-rate mortgage held flat at 2.88% for the week ended Sept. 9, after dropping earlier this summer, according to Freddie Mac’s latest Primary Mortgage Market Surveys. The 2.88% average 30-year fixed-rate mortgage was up slightly from the

Two of the largest leaders in the real estate market are joining forces to form a new mortgage origination company.

The startup that allows buyers to make cash offers on homes while trying to secure a mortgage is expanding to new markets while growing existing ones.

Homebuyers lucky enough to win a bidding war for a property are increasingly running headlong into appraisals that don’t match — or even come close to — the agreed sales price, leaving them with limited ways to close the sale.

“This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity.” — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan

The new technology streamlines workflow in the mortgage industry.

“The consistent decline in serious delinquency since August is a sign of growing financial stability for families,” said Frank Martell, president and CEO of CoreLogic.

The trend of purchasing a second home has sent home prices in seasonal towns skyrocketing in value by 19% for the year ending December 2020.

The ad is part of their national brand campaign, Believe You Will, which encourages the power of positive thinking and believing you can accomplish your goals.