Tag: Mortgage
As rates rise, mortgage applications dip

Mortgage applications dropped again, falling 0.9% from the previous week, according to the latest report from the Mortgage Bankers Association for the week ending April 30, 2021. MBA’s Associate Vice President of Economic and Industry Forecasting Joel Kan called last week’s mortgage ...

Here are the top 15 mortgage lenders of 2020

A perfect storm of record low interest rates and shifting consumer behavior spurred by the COVID-19 pandemic resulted in an absolutely incredible year for mortgage lenders in 2020, especially the independent mortgage banks. Virtually every IMB saw origination volumes soar in 2020, with many ...

The purchase mortgage market is back on top

The share of refinances in mortgage origination volume dipped below 50% for the first time in 15 months in March, according to Black Knight‘s new monthly data report, the Originations Market Monitor. With interest rates continuing to tick up, the purchase mortgage market is where most lenders ...

Mortgage credit, and the coming purchase storm

Mortgage credit is still the tightest it has been in more than six years, but an unwavering February may be the calm before the purchase storm as lenders prepare for a revitalized economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit ...

What is a Reverse Mortgage and How Does it Work?

If you’ve lived in your current home for many years, you may reach the point where you’ve made your final mortgage payment or are very close to paying off the house. Congratulations – this is a major accomplishment in the journey of homeownership.  Your home now represents pure equity; funds that ...

Rocket Mortgage made $9.5B in profits in 2020

Rocket Companies, the parent company of Rocket Mortgage, cleared another $ 2.48 billion in profits during the fourth quarter, giving the nation’s biggest mortgage lender a total of $ 9.5 billion in profits for 2020. Rocket originated $ 107.2 billion in mortgages, with net rate lock ...

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