25 Burst results for "Mortgage Bankers Association"
"mortgage bankers association" Discussed on WTOP
"In annandale Luke Luger WTO P news The invasion of Ukraine live updates 24/7 360 five Washington's top news one O 3.5 FM in WTO dot com Now that mortgage interest rates have been on the rise what's happening in the housing and home loan market Mark Hamrick has some answers The impacts of higher mortgage rates on Mark Hamrick with a bank rate dot com personal finance management As recently as last November the average for 30 year fixed rate mortgages would just above 3% The 30 year fixed rate mortgage still accounts for the lion's share of financing home purchases and so now that it appears to have settled above 5% in recent weeks to the highest since 2009 it's having a big impact on the mortgage business of the housing market The national association of realtors reports sales of previously owned homes fell for a second straight month in March down 2.7% It's affecting new home sales down 8.6% in March What about the mortgage business The mortgage bankers association says refinancing is down more than 70% from a year ago when people were getting something around that 3% level Home sellers have been seen prevailing over the balance of power over buyers and recent years if the market continues to slow prospective buyers may recapture some of that power I'm mark hammer Coming up on WTO P House speaker Nancy Pelosi makes a secret trip to key Ukraine as evacuation efforts are underway in the besieged city of Mary a pole People wanting to see a play or musical on Broadway will no longer have to show proof of COVID vaccination and a.
"mortgage bankers association" Discussed on Real Estate Coaching Radio
"Breaking news before we get to our topic and our topic today is how to choose their real estate broker 11 must ask questions. And by the way, these very same questions will work when you're trying to decide if you're going to stay at your current real estate brokerage. So get ready to take notes. And Julie has read something this morning. I think that will motivate all of you. Yes, I actually have read it in several places, I think this time of year, there's lots of surveys bouncing around. And I believe this can be attributed to both housing wire and the mortgage bankers association who both report that 40% of Americans say that they will be moving this year. And so my question to all of our podcast listeners who are in the real estate space, have you spoken with 40% of your database 40% of the people who are in the context of your smartphone, 40% of your friends and family. I mean, a 100% would be better, but let's just say 40% of them are going to move, the only question is, will they be using you to help them? Well, so if you are thinking along the lines of what Julie was just prescribing to all of you, you might want to be considering having more conversations with folks where you end the conversation with one of our catch phrases basically or one of our copywritten scripts, which is simply, by the way, who do you know who's thinking about buying or selling real estate that I should be helping in this market. Now we would suggest that you say, by the way, who do you know who's thinking about selling that I should be helping this market and you will be shocked and surprised or hopefully not shocked and surprised when you start stumbling across lead after 8? Because remember, statistically, assuming this data is correct, 40% of everyone you're going to talk to, Julie says senators have influenced some past clients, but everybody is thinking about humans buying and selling and depending on the price range, they might be thinking about listing and then buying. You guys following us here. So the bottom line is have conversations. What is a conversation for those of you who have forgotten? It is not a tweet, it is not a message it is not an SMS. It is not a video. It is not a ticker talker or whatever kids girl. What's it called? TikTok. TikTok. It's not a Facebook signal. It's not as much make a signal. It's not a Facebook post. It's not leaving a present on their door of some sort of pop by type thing. It is a actual conversation where you pick up the phone and how they conversation that is use the scripts we include with our premier.
"mortgage bankers association" Discussed on Real Estate Coaching Radio
"We get to our topic in our topic today is how to choose a real estate broker 11 must ask questions. And by the way, these very same questions will work when you're trying to decide if you're going to stay at your current real estate brokerage, so get ready to take notes. And Julie has read something this morning, I think that will motivate all of you. Yes, I actually have read it in several places. I think this time of year, there's lots of surveys bouncing around. And I believe this can be attributed to both housing wire and the mortgage bankers association who both report that 40% of Americans say that they will be moving this year. And so my question to all of our podcast listeners who are in the real estate space, have you spoken with 40% of your database 40% of the people who are in the context of your smartphone, 40% of your friends and family? I mean, a 100% would be better, but let's just say 40% of them are going to move, the only question is, will they be using you to help them? Well, so if you are thinking along the lines of what Julie was just prescribing to all of you, you might want to be considering having more conversations with folks where you in the conversation with one of our catch phrases basically are one of our copyright scripts, which is simply, by the way, who do you know who's thinking about buying or selling real estate that I should be helping in this market? Now we would suggest that you say, by the way, who do you know who's thinking about selling that I should be helping this market and you will be shocked and surprised or hopefully not shocked and surprised when you start stumbling across lead after late? Because remember, statistically, assuming this data is correct, 40% of everyone you're going to talk to, Julie says center of influence and past clients, but everybody is thinking about humans buying and selling. And depending on the price range, they might be thinking about listing and then buying. You guys following us here. So the bottom line is, have conversations. What is a conversation for those of you who have forgotten? It is not a tweet. It is not a message. It is not an SMS. It is not a video. It is not a ticker talker or whatever you call it. What's it called TikTok TikTok? It's not a Facebook signal. It's a smoked signal. It's not a Facebook post. It's not leaving a present on their door of like some sort of pop by type thing. It is a actual conversation where you pick up the phone and have a conversation that is, you know, use the scripts, we included with our premier coaching program. Our conversational scripts are not salesy and they're designed to make it so that they look forward to hearing from you on a regular monthly basis. If you really want to step away from the crowd, the herd of people who are relying too heavily on digital forms of communication call people. Who actually is making that effort right now, I'll tell you who the top producing agency. They have all the listing for sure. When everybody else is going one direction, guys, when the hurt is running in one direction, generally speaking, nobody in that hurt is really paying attention to the fact that everyone all the buffalo leading the pack are going off the cliff. So you want to make sure you're not just following the masses off the cliff, think about what we're saying. If everybody else is doing everything digitally, that means that your past clients, your centers of influence, everyone you run across is so immune, burned out, over saturated with digital communication and actual conversation is going to make the biggest of differences..
"mortgage bankers association" Discussed on Bloomberg Radio New York
"To these Pellegrini Remember how one mortgage rate drops suddenly at the start of the pandemic There was that sudden rush to refinance and it was hard even to get a mortgage broker online or get your approval process Well it turns out finally those in the refinance business say things are slowing down a bit and now could be a good time to apply About brooksmith is president and CEO of the mortgage bankers association We've had millions of borrowers take advantage of these low rates But we still have a surprising number of people who have rates that are higher than market and haven't taken advantage of the programs Volume is down from where it was at the peak so I think if you get in there now you can still enjoy a good low rate And a recent bankrate survey said about half of homeowners with pre-pandemic mortgages were not even considering refinancing It is getting easier to apply online but many still set in the survey The hassle was keeping them away And that simple work real estate report under these Pellegrini President of the Jewish communal fund zoya reigns and her husband Robert Friedman Jewish activists and philanthropists talk about why they chose the Jewish communal fund for their charitable giving As very busy working parents we wanted to focus more on the charity part of it and wanted to focus more on our children and less on the administration The twos communal fund is one of the oldest and largest donor advised funds but at the same time they are totally up to date and have state of the art systems for us to access and manage our contributions online The assets in our funds at the JCF grow tax free So we can generate more charitable dollars to support the charities that we care about most Let JCF minimize your taxes and maximize.
Mortgage refinance demand tanks 39% as rates continue to climb
"Cratering as interest rates keep climbing. The Mortgage Bankers Association reports. Applications to refinance existing mortgages are 39% lower. This time last year after falling 4% last week. Big drop comes is the national average interest rate for a 30 year, fixed rate mortgage rose two basis points to 3.28%, the highest since last June. I'm Steve
Mortgage refinance demand plunges 43% from a year ago, as higher interest rates take their toll on borrowers
"Rising interest rates are sinking demand to refinance existing mortgages. The Mortgage Bankers Association this morning reports refi applications fell 5% last week and we're more than 40% lower than the same week one year ago. It's the first year over year decline in two
"mortgage bankers association" Discussed on News Radio 920 AM
"Opportunities, And it's a no brainer. Right? Like you save yourself thousands of dollars over the course of the mortgage when you refinance to a lower rate. You're seeing a slowdown in home purchases, and I know inventory levels are low. But do you have a fear that there's a bubble been created in the real estate market truck? No. No. I do. Let me explain that my basis for fear. I've just never seen a real estate market like this, where homes are selling for 101 $150,000 over their asking price. And 11. Word of caution that I have is what about all the foreclosure activity that has been stalled due to the cove in 19 pandemic? How many people are gonna lose their homes once the banks were allowed to foreclose And what will that flood of real estate due to the housing market? I think at this point, honestly with inventory, I didn't think we could get inventory. Is this load? You know, for the latest week? The numbers that we have for last week. Do you know how many homes are available nationwide at this point in terms like month the number of months of inventory, referring to another wrong number of houses available? Yeah, I don't know, Chuck. 367,000 Point of comparison. Do you know how many were available at this time last year? Ah, triple that No 736. You know how many do you know how many were available? And I'm looking at data going back the last five years in January of 16. Do you know how many homes were available then million 941,000. So we're running it like 30 to 35% of normal inventory levels right now and typically in a lot of those other years, you'd start see a little bit of an inventory bounce right now just because people start listing for the spring selling season. Yeah, Worst. We're still seeing about a 10 to 15,000 units per week. Decline and inventory like it's Chuck. Is there any statistic available regarding foreclosures and how many have been delayed? Yes. So here's what we do know is that when we look at the number of mortgage is really what I look at her the people who have their mortgages in four parents at this point, because by and large if you not in one of these programs Then the assumption has to be that you're pretty much making your payments was not hard to qualify for these programs. You know, It's like it pretty much was automatic right now, and this is, according to data from the Mortgage Bankers Association, currently about 2.7 million homes are in these four Barron's programs at the moment. So, basically, I look at it, and I say if every single one of those ends up going belly up, okay? That gives us six months of inventory. Like It's not like we have, like years of inventory that we're talking about here, right and they're not going to go belly up. A lot of those people will work out. The banks are going to be incented. To work out deals with those people. That Aaron for parents? Yeah, So I guess like I just look at it and again. It's just the pace is so rapid. I mean, we're on about a 6.6 million unit per year pace right now. And so even if you had every one of those 2.7 million come on the market at the exact same time. It still is adding, you know, six months of inventory right there, But, you know, it's just I just don't see all of those going bad like there's some people in these programs again, as you say banks will work with them like though. You know, So do I think there is do I think we're gonna see this level of price appreciation forever? No. I mean, we're seeing like eight plus percent price appreciation right now, that's going to taper off. At some point. We'll find equilibrium at some point the next year, too, But the other thing to me that suggests this isn't necessarily a bubble. Is that it's not being fueled by any crazy kind of borrowing activity. You know, like you're not seeing 110% loan to value or not saying these no income, no acid verification loans or anything like Underwritings fairly tight right now. And this is still happening this like you're seeing a ton of people. Tucker. How? How many times do you go trying to buy a house and you here? Yep. They sold all cash offer 10% over asking, Oh, all the time and not not to mention all the 50 plus people in line at the open house. It's ridiculous. Yeah, So I I don't think we're in bubble territory on housing Right now. It does not feel like that. To me. It's you know, it's it's hot. But it's backed up by real cash, not by over leverage. And that I think is a key difference, too. Well in the other thing that will occur is a lot of these people that are in for parents now or unemployed. Now they will have their jobs back. If you're a chef, you're gonna be working by July. If your server you're gonna be working by July, Like all, there's a tremendous industry and millions of Americans that have been out of work since March. And are not coming back to work until the pandemic Just because again when do you like When would you go back into an indoor restaurant? Chuck it Once I'm vaccinated him, right and that's you figure out. I'm thinking you're vaccinated by the end of June. So I was gonna say Mayor June is kind of what? I'm expecting it, Z So we have a ways to go. And you know, when those people come back, they're gonna work out terms with their their their their banks and the banks are going to say Well, you you missed 12 payments. S so we're gonna tack it onto the back end because we don't Janet Yellen is gonna be breathing down our neck on, dear gonna be generous in the way they were. They also, they don't want to foreclose on anybody's home if you talk to a banker, but the last thing they want to do is foreclose. They hate for closing because the invariably lose money on it. They're not in the business of wanting to sell homes. They're in the business of wanting to make loans. You know, that's that's what banks want to do. Oh, yeah, the banks want to make performing loans. They want to make loans where they know that the that that money is going to be paid back..
"mortgage bankers association" Discussed on WTVN
"Going on fellow sports fans? It's Andy West. Let's take a look back at this day in sports history. November 12th. We'll start off today wishing a happy birthday to one of the greatest sports announcers of our time. Al Michaels, born today in 1944 in Brooklyn, New York, he has called play by play for every major sport, but he may be most famous for his 1980 call of the miracle on ice. When the US beat the Soviet Union and Olympic hockey in 1980, he still going strong on NBC Sunday night Football. Happy birthday out today in 1986. Roger Clemens, then of the Boston Red Sox, became only the third American League pitcher to unanimously win the Cy Young Award since writers began giving the award in 1967. That year. Clemens won 24 games and only his third season in the league. He would go on to win seven Cy Young awards throughout his career, and today and 2012, Joe Sakic, meth Sundeen, Pavel Burry and Adam Oates are inducted into the Hockey Hall of Fame. Now, you know today in sports history on my heart radio, mortgage rates are hitting another all time low, but purchase applications are down for the weekend. Reef eyes are barely up at all. The Mortgage Bankers Association's average for all types of 30 year fixed loans dropped below 3% this week for the first time to just 2.98%. Last week, Freddie Mac's average for a government back 30 year dropped to just 2.78. But applications to buy slipped a half percent and reef eyes only increased. 1%. However, both are still substantially higher than a year ago, and rates were about a full percent higher. A lot more of the home buying is at the high end as white collar workers who didn't lose their jobs during the pandemic or looking for bigger suburban houses where they can spread out and work from home. The Realtors association reports. Almost 25% of all houses purchased between April and June were north of a half a million dollars compared to just 14% in the nine months before that, and that's pushed the median price up 26%. Nearly $340,000 nationwide. Like so many other businesses in 2020, Turkey Farms are feeling the effects of the Corona virus pandemic with traditional celebrations scaled way down that last year, they had a 25 pounder. This.
"mortgage bankers association" Discussed on KOA 850 AM
"Of the Mortgage Bankers Association calls it an indefensible tax on consumers. Consumer and Business News. Joe McConnell, NBC NEWS Radio AWAY NEWS RADIO Time. 3 30 Our top story So many wildfires. The Grizzly Creek Fire is now up to 25,000 acres. Firefighters say. It's just one mile East now from Glenwood Springs, the Pine Gulch fire north of Grand Junction, still at 7% containment. After burning 85,000 acres in Larimer County. The battle continues on the Cameron Peak fire. It's for burned more than 13,000 acres, no containment, no structures damaged there. Douglas County is back to stage two fire restrictions. That means no open burning. No campfires. No fireworks. DEA hit 93 degrees today, which is the 57th day in 2020 for the airport to hit that temp. DEA is Theophile Shal temp for Denver. Some good news on the Corona virus pandemic in Denver by wearing masks watching hands and social distancing the case. Numbers for Denver have been cut in half. Mayor Hancock says Denver is averaging just 40 new cases a day are positivity rate is below percent. And our hospital capacity remains strong. Mayor says We can't get complacent, though he's urging everyone in Denver to keep doing what you've been doing to keep Cove in 19 in check. The not gets beat the Jazz 1 35 to 1 25 today, Rockies and Astros tonight on Gay away coverage at 6 30 aren't accepted before. I'm Cathy Walker on KO News Radio. 8:50 a.m. in 90 for one. Now check on traffic. Here's John Morrissey over all, not a bad driver on the metro area doesn't mean we're not crowded like that drive downtown between I 70 in Santa Fe, both sides of 25 Like that I 70 drive that's heavy westbound from Central Park passed to 70. There was a stall at value That's been cleared, but you stay heavy past deal. Vasquez eastbound from I 25 that drive onto 70 heavy in both directions. You're driving the tech center. You got a lot of traffic on Park Road right now don't see a lot of problems on that highway drive that extends down into Douglas County. Even down toward the Gap project. We're looking pretty good here this afternoon. Fox, 31 pinpoint weather Hot 97. For tomorrow. It always going down to 60 For overnight. It's 96. Right now. This reporter sponsored.
"mortgage bankers association" Discussed on WGN Radio
"Home owners were in forbearance plans the mortgage bankers association reports that's down slightly from the week before it's also the first drop since March and now WGN sports here's Kevin Powell thank you Kim NASCAR at Talladega today after weather delayed yesterday's event before the race a moment of solidarity among drivers and crew members with a bubble Wallace today after a noose was found in his garage stall fellow drivers lined up and pushed his car to the front of pit road NASCAR is investigating with the baseball as a player's association voted against the owner's latest proposal with no counter proposal expected from the players union could come down to commissioner rob Manfred to implement a season needs a seventy five percent approval from the owner some expecting him to set a sixty game schedule that starts in late July cubs and white Sox have both signed their first round picks the socks thinking a deal with Tennessee lefty Garrett crochet Mount Carmel at Howard officially signing with the cubs in Chicago state is dropping its baseball program to save an estimated five hundred thousand dollars a year and will replace it with men's soccer the Cougars who have never had a winning season in baseball since elevating to the division one in nineteen eighty nine of the second D. one school to eliminate baseball since the pandemic Chicago state owned several NC double a records the Cougars lost fifty three games in two thousand seven and three other seasons with fifty or more losses they never won more than nine games in a season between two thousand to two thousand eleven nineteen ninety nine they allowed a record fifty runs in a seven inning loss to Nebraska I'm home and what blackrock north western Wildcats a white Sox by baseball Kevin Powell WGN sports your money on WGN the Dow closed up one hundred fifty three points today nasdaq up one ten the S. and P. five hundred up twenty points gold up today oil up eighty five cents at forty dollars sixty cents and the big that CBOE down three points I'm Kim Gordon at Chicago's very own seven twenty WGN there's a chance your.
"mortgage bankers association" Discussed on News Talk 1130 WISN
"Who have additional underwriting guidelines and overlays or delays were very aggressive in our underwriting both purchases the renovation financing would be dabbling a little bit into new construction financing the refinances are naturally very busy in this market where interest rates have historically sold all of this is a privately owned company my offices are books field another office in Madison but word by eighteen different states it's privately owned by two individuals in Michigan mark Jones and Dave game they've been best friends for thirty six thirty eight years and they're still best friends the wanted to get your building right a great company mark Jones she's on the board of the mortgage bankers association a lot of things have been happening to the coal big issue with forbearances and people that make their mortgage payments he's been instrumental in working with the treasury to help consumers to make sure that if they can make a payment what do we do and how we make it work in the program is working very well we have five different renovation miles you can purchase a home or refinance your existing home with these renovation loans turn into your dream the way it works fundamentally as let's say you're going to yep it's home that's worth about two hundred thousand dollars right now we can approach the home for two hundred thousand dollars I need the kitchen is the master bath the garage needs work and the work has to be replaced siger theoretically put in a hundred thousand dollars in improvements what's the future value that home going to be three hundred thousand to eighty three can we make a new mortgage based upon that future value whether you're purchasing or refinancing your basically borrowing equity but you don't have yet to do your home improvements may have some people want to remodel their gonna draw their savings to try to get a home equity line partner for one K. it could be a Hodge podge of different sources of funds come together to.
U.S. housing starts and building permits rise
"John well one area in which demand has been strong is housing and what we're looking at this morning as a housing market struggling to keep up with demand housing starts coming up four point three percent nine hundred and seventy four thousand and an annual rate that's below what was forecast the they were looking at one million one hundred thousand and it is not that much better than we saw last month eight hundred and ninety one thousand starts last month building permits do show some optimism though one million two hundred and twenty thousand filed in the latest month of that is up from the one million seventy four thousand that were filed in the month of April so builders trying to get back on track but the problem here is both the ability to build many states just now re opening to construction and also whether or not they can get supplies supply chains interrupted but we did see the mortgage bankers association report this morning purchase applications hitting an eleven
U.S. mortgage applications rise for sixth straight week
"Home buyers are jumping into the market and that's driving up mortgage applications applications for loans to buy homes rose nine percent last week the sixth straight week of gains and they're up more than fifty percent since early April or April the mortgage bankers association says total application volume rose two point seven percent last week as refinance applications slipped two tenths of a percent revise our stills one hundred seventy six percent higher than a year ago the national average interest rate by the way for thirty year fixed rate is up one basis point to three point four two
Economic Fallout From COVID-19 Is Hard On Landlords Too
"Explored the uncertainty from a lot of different perspectives and nothing can feel more destabilizing. The Not knowing if you're going to be able to make your rent next month we've heard on this show about how much renters who've lost income from the current crisis are struggling today. We're going to hear from the other side of that relationship. The landlord my name is Marilyn. Jim I am a small mom and pop landlord in Seattle with my husband We live in a triplex with our children and our tenants. Our House was built as a single family home in nineteen twelve by an Irish immigrant. Who had eighteen children and so? It's a good sized home sometime. In the past it was divided into a triplex. They both have day jobs but they rely on the rental income they get from several properties around the city. You know my husband will be the guy who's pushing the lawnmower so our tenants know us get to know us very well. They see us. They know that our family lives here. And and You know it's it's very much a personal up close up front relationship but that relationship has taken on a new sense of gravity since the financial crisis triggered by the pandemic all. Her tenants paid late in April and then in. May One of her tenants couldn't come up with the money at all. We came to the table with some ideas of what we could do to help. Meet them in the middle and we've come up with a plan that will take us through the next two months and then we're going to check in again in June and reassess but you know my husband and I have also had the conversation of ultimately. How long is this going to last? How long can we last? They're worried because they don't have a lot of extra money on reserve to float their mortgages if their tenants can't pay. We're not hoarding money here. And so we don't have a large cushion to tap into to get through something like this or mortgage lender is only allowing three months of forbearance and they want full repayment. At the end of free months it's hard for us to think. How are we going to get through if Are Tenants get to the point? Where there are no longer able to pay. Npr correspondent. Chris. Arnold has been looking into the dilemma that Maryland yet and many small landlords find themselves in right now and he joins us. Hey Chris Rachel so what stood out to you in Maryland Story. Will I think a lot of people are in the situation? And th there's all kinds of landlords out there and I think people tend to think about landlords is like big mean faceless corporations or you know as people rubbing their hands together wanting the money but there's just a lot of mom and POPs who were regular people and they wanna keep good tenants and they want to help them but they do depend upon this rental income right because they're not be corporations. They got bills to pay to like their mortgage and Congress mandated help for homeowners and that includes small landlords like Maryland. Were in exactly the situation and so when you play the interview for me. The the big red blinking alarm light that I heard in it was. She said that her lender told her that if she skipped payments she have to pay them all back in just a few months in this giant lump sum doesn't make any sense in this crisis in this kind of big balloon. Payment thing is is absolutely not the way that this is supposed to work. Okay so how is it supposed to work but good question So we should say that this is four home loans that our government back so by Fannie Mae or Freddie Mac and a lot of people don't even realize that their home mortgages backed by the government and somebody but seventy five percent of all homeless in the country are and so as Maryland's I checked and experts at. I've talked to say that for the vast majority of people who were struggling financially in this outbreak for them the rules say that they should make payments again when they're able to and it should be the same monthly payment their payments should not go up no big crazy. Lump sum payments should just get moved to the back and of the loan term. Okay so if it's a thirty year loan now. It's a thirty year loan plus say six months of missed payments on the back end. If these are the rules Chris Wise Maryland hearing something different and can Marilyn just push back yes she absolutely can and I've talked to borrowers who have done that. And sometimes they get a much better answer. And here's what's been going on. And after a lot of initial confusion. The Mortgage Bankers Association says that the companies are dealing with this much. Better this better information out there but the current system has a complicated set of rules and it relies on on lenders. Who've got like call center workers working from home they have to interpret this complicated set of rules properly and borrowers are sort of at the mercy of their lenders getting this right and arguably. It's not really going that well for a lot of people look at what. Maryland's going getting all SPAN INFORMATION. So that's why there are growing calls from Congress to fix this. I talked to Steve. Sharp with the nonprofit National Consumer Law Center. It's so important. We believe for Congress to step in and clearly state through law that for folks who have covid nineteen forbearance the real default should be putting their mortgage payments at the end of the lowe. Okay so just make that. The default make it automatic. So there's confusion the payments. Just go on the back end right and and some members of Congress do WANNA do this. There's a bipartisan group of State Attorneys General who were pushing for this to the CEO of a mortgage company. I talked to likes the idea and I actually called up and talked to Maryland and her husband again and I. Currently they're using their tenants security deposit and the last month's rent to sort of make up some of the difference of the rent that they're not able to pay but that's not going to be able to go on for too much longer and Maryland said look at mean having the certainty of this default option would make them much more comfortable skipping mortgage payments so that they could afford to be more flexible with with their tenants. Yeah because then. We wouldn't even need to be talking about drawing down from the money that they already put on deposit with us you know we could leave that untouched We would definitely have a whole lot more flexibility to to really see you know if if they are drawing from their savings. Maybe they don't need to do
"mortgage bankers association" Discussed on WTOP
"NCUA morning news at twenty five and fifty five on WTOP let's get the lowdown on a pretty darn nice day Jeff play by the close the Dow is up five hundred thirty two points at two and a quarter percent gain the market's propelled higher by early signs of a promising covert nineteen treatment the S. and P. five hundred index ended the day up almost two point seven percent the economy shrank even more than expected in the first quarter and that's captured just a couple of weeks of the covert nineteen slowed out GDP shrank by an annual rate of four point eight percent of the forecast for this quarter could be more than thirty percent the ride hailing business is way down uber says it may lay off twenty percent of its corporate work force fifty four hundred jobs lift just laid off nine hundred eighty employees seventeen percent of its work force the slowing housing market may rebound quickly mortgage bankers association says mortgage applications to buy homes jumped twelve percent last week although contracts signed to buy an existing home in March were down twenty one percent just label WTOP news flood watch in effect for tomorrow as we expect a deluge details ahead its five fifty six and now the small business buzz package by the UPS store many small businesses still have not meaningfully address potential IT security risks and must be to be firm the manifests as fifteen percent of small businesses experienced either a hack virus or data breach last year and before the corona virus crisis sixty four percent were planning to devote more resources to cybersecurity inexpensive steps many are now taking or just limiting employee access to data for now I'm Jeff label at the UPS store we want you to know our doors are open and we're ready to help you any way we can the UPS store is in the central business that will be open for every in you rely on us for whether that's printing packing mailing.
"mortgage bankers association" Discussed on KOMO
"Rates dropped to the lowest level ever in the mortgage bankers association's weekly survey the average rate on thirty year fixed dollar three point four five percent total mortgage application volume rose and it was driven entirely by revised but low rates did little for home buyers the spring housing market started early and seems to have ended early CNBC real estate reporter Diana olick the highest paid ESPN personalities are being asked to take pay cuts of fifteen percent during the shut down of sporting events according to sports business daily the paycheck protection program just about out of money as many small businesses haven't gotten any yet yeah the SBA continues to remain under the microscope businesses that held on to employees expecting that money are losing cash quickly Congress has yet to agree on any new funding the program was meant to give businesses forgivable loans quickly so they would have to fire people but Stanford professor Dave Dobson who advises small businesses all over the country tells CNBC's David Faber the program isn't working I know you're aware of about thirty one companies that have applied how many have actually gotten the funds that they need all of them applied in day one one has to catch the SBA is reporting how many loans have been approved but they are not recording interestingly how many companies have cash and that's the reason why they don't have the cash Stanford's Dave Dobson on CNBC Jessica Ettinger thank you it's twenty three past the navy reportedly is looking into whether eight can reinstate captain Brett crozier who was removed from command of the carrier Theodore Roosevelt after he publicly called for help finding a corona virus outbreak aboard the ship bill Michaels reports The New York Times is reporting a spokesman for the chief of naval operations says admiral Michael Gilday is looking into the possibility of bringing captain crozier back the spokesman said no final decision has been made but the admiral was reviewing the findings of a preliminary investigation into the events surrounding closures remove all the time says any decision to bring closure back could be overturned by president trump I'm bill Michaels it's twenty four after amid the virus there are viral stories when American morning continues.
"mortgage bankers association" Discussed on KTAR 92.3FM
"Per the mortgage bankers association of the increase was led by a big comeback in demand for research our refinance loans as homeowners seize on opportunities to refinance and save refinance applications surged twenty six percent just last week now as Americans come to grips with the coronavirus business closures and layoffs U. S. homeowners are realizing that falling mortgage rates can allow them to shrink their monthly budgets by refinancing average our average rates on thirty year fixed mortgages recently hit a record low of three point two nine percent the nearly fifty year old weekly survey from mortgage giant Freddie Mac said so if you are a homeowner and have a refinance yet then here's another mortgage Mulligan the market is primed for extreme savings I recommend having a savings conversation today with the professional over at network capital the home of the ten day close one of the number one ranked lenders for two thousand eighteen per NerdWallet dot com they're charging no lender fees again this weekend and you guys get the opportunity to register and lock in a thirty year fixed three point two five percent what the three point three five APR it's quite easy to get approved here's the number eight hundred seven hundred eight zero six eight tell your friends tell everybody you care to see save some money to reach out to network capital the home of the ten day close the no lender fees special the fifty year low for thirty year fixed is available at eight hundred seven hundred eight zero six eight time to share some more recent results quickly yeah we could sneak this one and this is Joanne she's from San Francisco she listens to us on KSFO five sixty A. M. radio she wanna go from interest only to principal and interest and still pay less and trim some fat so all right you wanted it you got it so we went thirty year fixed down the twenty year fixed cutter the Askari fun next better payment in June close and twelve business days paid off the twenty five thousand credit card debts cashed out two hundred eighty four thousand so she could buy a rental property in Tahoe one of the fresh start credit repair trimmed a hundred and one payments of fat which is you know really almost eight and a half years and still paid six hundred and sixty seven last a month seven hundred and eighty three thousand over the life of the loan went from interest only to principal and interest this is what's out there all you have to do is make contact this tied in a ton of the trends and this can be you dial the number eight hundred seven hundred eight zero six eight great result we're going to talk more about trends John and the rest the folks in our capital are seeing stay with for.
Mortgage Rates Fall To Record Lows. Does It Make Sense To Refinance?
"Many people across the country have been calling up mortgage companies this week. There many people asking for refinancing of their home loans. That's because mortgage rates have been hitting record lows. Npr's Chris Arnold been following all this and it's on the line. Hi There Chris a Steve. What's causing the drop in interest rates? Well stocks of course have been falling over fears about the krona virus. And that is that people are buying treasury bonds. It's like a flight to safety. Because Treasury safer investment and the Fed has also been cutting rates and all that is leading to the lowest mortgage rates on record over the past fifty years and how many people are trying to take advantage. Well we're seeing a very big jump that Last year I think it was three times the normal rate of mortgage applications and people are calling because they can save hundreds or thousands of dollars what we talked to Jay Farner. He's the CEO of quicken loans. In the last week we've probably had three record days. Yesterday was again a new record for mortgage applications. It really is one of those once in a lifetime opportunities. I I'm not certain while see rates likeness again. Ed this is maybe like the one silver lining in all these dark clouds around the economy. Because of this very scary corona virus and it's having this effect of lower rates so a lot of homeowners can save money refinancing. You can save money. Buying a house to all of that helps regular people and it helps out the the the the broader economy. I guess if you're running the Fed You're happy about this. This is why you've been cutting interest rates. You want to encourage economic activity in moment when a lot of economic activities seem to be disrupted in some ways. But how do individual homeowners know that? It's worth refinancing given that it ain't free right. Well I mean by definition mortgage rates are at record lows. That means anybody with a house has a rate that's higher than the rates. You can get today with the question is. Is it a big enough drop to make it worth it if you refinanced? So I talked to Mike Fratton Tony. He's the chief economist. The Mortgage Bankers Association. He worked up this estimate based on rates from last week. More than eighty percent of all homeowners with the mortgage could have benefited from refinancing. They could have saved at least half a percent in terms of the rate on their mortgage and then given that rates have fallen even faster. This week you know that just means that the vast majority of all homeowners at this point likely would benefit from refinancing and Steve is to put some numbers around this. If you can drop your rate by one percentage point that doesn't sound like much one percent but that going to be very big effect if you have good credit a year ago rates on a thirty year fixed rate loan were four and a half percent now there around three and a half percent so on a three hundred thousand dollar mortgage that changed that one percent change can save you two thousand dollars a year in mortgage payments. Some people could save a lot more so this can mean a lot of extra money in people's pockets any other factors that people should think about. Yes for sure I mean. One thing is Shop around two or three lenders right now because of all the turmoil in the markets. That's really important. You get a better deal if you shop around Next thing is the fees. Make sure that they're worth it and a lot of people don't understand this last one. I if you've been paying your loan for a long time. It's often not so good to go back and start over with a thirty year loan. Now you'RE GONNA pay a lot more interest so you can get twenty five twenty fifteen years even better. Those are better options. And when you say fees that can be several thousand dollars for refinancing Yes yes definitely pay attention Chris. Thanks so much thanks
"mortgage bankers association" Discussed on WTOP
"Twenty five here and just play by opening bell five minutes away it looks like we'll start strong Dow futures up almost six hundred points and that's pretty much in line with fair value the US may take back its title as the world's largest automobile market car sales in China have plunged eighty percent last month on coronavirus shopper disruptions if you want to refinance your mortgage you get in an increasingly long line with interest rates still falling applications to refinance a mortgage jumped twenty six percent last week the mortgage bankers association says refinancing volume is now more than triple what it was a year ago Montgomery County has extended its E. scooter pilot for another six months but the county council is now considering some restrictions if approved they would limit the scooter speeds to fifteen miles per hour in Montgomery County and require riders under eighteen to wear a helmet bird lime and lifter currently the E. scooter companies operating in Montgomery County Jeff label WTOP news coming up after traffic and whether there's a new front runner in the race for the democratic presidential nomination nine twenty six C. AC I we encourage our people to invent their future and it makes all the difference using cutting edge technology to deploy these systems worldwide you know our company has offered us abilities to use our research and development funds to partner with other companies or within our own company other branches to make our technology smarter more advanced yes yes I really empowers the individual you can tell it's CC ID employees is six has number one asset they really invest and try to retain their top talents much as possible this is a job where you can make a change in the lives of the people in return it makes you more determined to do your job well and.
Low mortgage rates forecast for 2020
"Total U. S. mortgage debt has reached a record fifteen point eight trillion dollars according to the federal reserve now that number includes not just homes it also counts farms multi family and commercial mortgage death but homes are the biggest chunk of that debt eleven point one trillion dollars there's a strong surge of people applying for a mortgage in the first full week of the new year according to the mortgage bankers association purchase applications were at the highest level in over ten years and the volume of refinance applications was double what it was just a year ago Joel Kahn associate vice president of MBA says it's a strong start to twenty twenty and he predicts that refinance activity will remain robust at least in the first half of this year even though rates are at least our forecast for rates is below four percent for rates to remain relatively flat bars do need a bigger rate instead of right now to come back to the market on the purchase side things are still supported for purchase market growth so we do expect purchase activity to continue to grow throughout twenty twenty Khan spoke in a video produced by the mortgage bankers
"mortgage bankers association" Discussed on KOA 850 AM
"As we check in with Pat that scary corona viruses it making the stock market said that in Bowling certainly seem to be what was ailing Wall Street at least yesterday the corona virus now has a carrier in the US and it threatens to disrupt travel and trade if it gets out of hand that as investors a bit nervous but then there's Boeing trading was actually suspended for awhile yesterday for Boeing stock because of the news that the company doesn't think federal regulators are going to sign off on the seven thirty seven actually until June or July of this year the aerospace company announced plans to temporarily halt production on the airplane for an undetermined period of time back in December this is one of the many delays to return the fleet to service after it was grounded more than ten months ago following two deadly crashes in Indonesia and Ethiopia the company is grappling with increased expenses stemming from the two crashes as well as a significant decrease in shares mark Mayfield NBC news radio how we may see a little bit of equilibrium regain today stock futures point to a rebound without futures up by about seventy points mortgage applications eased off last week after a strong start to the year mortgage bankers association says overall applications fell one point two percent last week refi applications and applications for loans to buy homes were both the two percent but are higher than they were at this time last year the national rate for a thirty year fixed right now at three point eight seven percent the big apparel company that moved to Denver not that long ago is looking to sell off some of its brand names the F. corporation is considering selling nine brands that generated eight hundred sixty five million dollars in revenue last year a company statement says we up wants to focus more on consumer clothing and less on occupational clothing so they're looking at the vesting the brands red cap VF solutions bowl work work right Walsh terra Kodiak work authority and for a small those brands represent about half of the company's work segment revenue the F. also makes Dickies timberland pro north face jansport smart will vans in eagle creek those brands are not part of this review and potential selloff X. money update coming up at seven twelve not watered Kaylee money news thanks Pat this is what it sounds like the plague free tap on Mike last night Larry Walker.
"mortgage bankers association" Discussed on WMAL 630AM
"The combination the rate the service the speed the guidelines the opportunity the news everything that's going on overseas trying to trade war the Iran situation all kinds of things are leading up to people to strike while the iron is hot but mortgage news daily said mortgage application activity exploded out of the starting gate during the first week of twenty twenty the NBA which is the mortgage bankers association said its weekly mortgage application survey for the week ending January tenth twenty twenty showed increases in every category dramatic ones in most as raid set new recent lows the market composite index a measure of mortgage loan application volume increased thirty point two percent on a seasonally adjusted basis from the week ended January third that was still in holiday hang over mode now the weeks the previous week's results include an adjustment for the new year's day holiday on an on a jet unadjusted basis the index was up sixty seven percent compared to the previous week now they also said the refinance index gained forty three percent from the previous week it was a hundred and nine percent higher than just the same week one year ago now refinancing accounted for sixty two point nine percent of all applications that was up from fifty eight percent the previous week no I like to use applications to recess like a gauge to weather now was a good time across the board customers are planned for really all kinds of cool ideas the say their family's money it's a new year it's a new decade in a lot of new year's resolutions are under way already we've been getting all kinds of cash all calls term reductions people are starting to find out that they can convert their adjustable rate mortgage into a fixed and in most cases get an improved interest rate Nelson incredible time.
"mortgage bankers association" Discussed on WGN Radio
"Are down and so our mortgage applications figures from the mortgage bankers association today for total applications fell two point four percent last week applications for loans to buy homes were up to percent applications to refinance existing mortgages were off by about seven percent Ford Motor Company recalling about fifty eight thousand focus cars in North America because a software update that was part of an earlier recall was not complete recall affects twenty twelve through twenty fourteen and twenty seventeen focus models there's a problem with the gas tank that could cause the car to stall while the person is driving now WGN traffic with very Vandervell and the up and eat is about twenty two minutes to lake cook road a man looks good app and Kennedy forty minutes to the airport twenty eight coming in from here twenty locals as an hour forty five in from fifty three about a half hour from Mannheim and fifty two out down to fifty three Stevenson thirty six in from the tri state fifty five from three fifty five inbound side of the Ryan before thirty fifth left lane is blocked with an accident just reported bishop for it is heavy from cottage Grove fifty seven's looking good not too bad on the tells a little so seventy fifty fifty five on the tri state watch for new lane config figuration on eighty eight east bound between York and two ninety four and lake shore drive building into Jack's an accident in liberty bell Milwaukee and route one seventy six oversized traffic on demand get the traffic Chicago app approved by the mortgage experts cityhopper just search T. R. A. F. F. I. X. Chicago Vandervell from the ida traffic center reminding you to drive responsibly it really is a matter of life or death here's the forecast from the WGN Chicago weather center it's going to be mostly sunny hot and humid today some scattered thunderstorms this afternoon high near ninety four with the heat index.
"mortgage bankers association" Discussed on WJR 760
"That's according to the mortgage Bankers Association. NBA spokesman Ravin rap Horst said in a company produced video the spring bind season remains strong purchase activity was up year-over-year for the ninth straight week reaching its highest level since April of twenty ten predictably as interest rates continue to hire. Refi activity drops slightly falling eight percent from the previous week with that dip in refi activity, total mortgage application volume fell three and a half percent. From the previous week homebuilders say excessive government regulation is a big reason. New home prices, keep rising speaking to the national association of counties, recently, housing and urban development secretary. Dr Ben Carson said county leaders could do a lot to help the thing that could be done. Whether it's a launch county or small county is to sit down and study those regulations and take the same kind of approach that we have in medicine, which is first do no harm. So look at the regulations is this causing harm when it comes to building affordable housing. And if it is let's change it. Carson says he's not anti regulation, but favors scrapping old regulations. As new ones are added a new report from economists at the Federal Reserve Bank of New York says the 2017 tax Bill may have. Hurt new home sales in two thousand eighteen their report suggests that the new cap on state and local tax deductions was a factor in a seven point six percent drop in new home sales. But Fannie may chief economist Doug Duncan says the tax Bill is not likely to have a significant effect on housing going forward. People had kind of a broad view of who might be impacted when in fact that the neighborhoods which are most impacted are fairly narrow in a subset of those markets. It's not everybody in those markets. So broadly, we don't expect to have a big impact on the market Duncan spoke to Yahoo. Finance.
Lower mortgage rates drive increase in refinance applications
"Funnily enough the last time I sat in this chair for Chi. We talked about how mortgage rates were dropping and that was good news for the spring home buying season C pay attention. And as it happens. Those dropping rates have also kicked off a wave of refinancing. Homeowners are happy a report from analysts black. Knight says some five million people could end up saving hundreds of dollars a month each but what about the banks who make those loans? Marketplace's Megan McCarthy Carino reports they're hustling the last couple of years have been tough for mortgage lenders with interest rates around five percent. Refinancing hit a twenty year. Low many lenders had to downsize with mortgage departments at Jp Morgan and Wells Fargo losing hundreds of jobs then last week rates are continuing to fall today. Edging very close to the three percent range on the thirty year. Fix interest rates dropped for the fourth straight week in the phones. Started ringing or deadly fielding more calls we've w seen increase in activity. But hey, that's what we're here for right? We love that. Avi. Mizrahi is a lender with cross country mortgage in Boca Raton, Florida. He says the Sasken handle the current load. But if the trend continues into the summer, they may need more help refinance applications shot up almost forty percent last week to their highest level in more than two years. According to Joel con with the mortgage Bankers Association is a big deal because we're actually seeing bars come back to the marketing particularly borrowers with bigger loans who bought in the last couple years when interest rates were on the high end, but will it really be enough to spur more hiring in the mortgage industry? Garin patriot with federal financial analytics, isn't so sure. Thanks expectation is that this is just a blip mortgage rates have already started bouncing back up this week with more increases predicted later in the year. So mortgage rate watchers might want to keep their seat belts. Buckled and be ready for more bumps.