Ginnie Mae forbearance

Refinancing Volume Surges on Slight Rate Drop

Posted To: MND NewsWire

Borrowers looking to refinance were quick to take advantage of a slight drop in interest rates last week. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, jumped 8.1 percent on a seasonally adjusted basis during the week ended January 29, and was up 10 percent on an unadjusted basis. The index had declined in each of the two previous weeks. The Refinance Index increased 11 percent from the previous week, also reversing two weeks of losses, and was 60 percent higher than the same week one year ago. The refinance share of mortgage activity increased to 71.4 percent of total applications from 70.7 percent the previous week. The seasonally adjusted Purchase Index ticked up 0.1 percent and was 8 percent higher on an unadjusted…(read more)

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Forbearance rate slowly descends to 5.35%

Monday data from the Mortgage Bankers Association reported the share of servicers’ portfolio volume in forbearance fell 3 basis points to 5.35% last week.

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Forbearances hold steady as exits slow

The U.S. forbearance rate held relatively steady last week, rising one basis point to 5.38% of servicers’ portfolio volume, according to the MBA.

The post Forbearances hold steady as exits slow appeared first on HousingWire.

Mortgage forbearance rate continues to drop

The U.S. forbearance rate fell nine basis points last week to 5.37% of servicers’ portfolio volume, according to a survey from the MBA.

The post Mortgage forbearance rate continues to drop appeared first on HousingWire.