Smart Borrower Blog

Archive for the ‘Federal Loans’ Category

Mortgage Loan Limits Raised for 2019

Nov 29th, 2018 @ 9:36 PM by Amber Nelson

In response to the rise in home prices this year, the Federal Housing Finance Agency is increasing loan limits on conforming mortgage loans for 2019. The new maximum conforming loan limit will be $484,350, a 6.9% jump from 2018’s limit of $453,100. The increase roughly matches the rate of home price inflation – according to […]

more »

Refinance Volume Falls to 18-Year Low

Sep 12th, 2018 @ 9:06 PM by Amber Nelson

Fewer Americans applied for refinance loans in the latest week, as U.S. mortgage interest rates rose to a 5-week high, according to the Mortgage Bankers Association. In fact, that jump in rates was enough to push refinance application volume to its lowest point in 18 years. “As mortgage rates increased to a five-week high, the […]

more »

Mortgage Credit Loosens But Confidence Falls

Aug 22nd, 2018 @ 2:09 PM by Amber Nelson

Rising home prices and mortgage interest rates have prompted lenders to loosen their credit standards, but those same factors have caused Americans to feel less confident that now is a good time to buy a home. The Mortgage Bankers Association’s Mortgage Credit Availability Index rose to 184.1% in July, up 1.7% from June. An increase in […]

more »

Mortgage Applications Jump as Home-buyers Seize their Opportunity

Jul 11th, 2018 @ 8:52 PM by Amber Nelson

As mortgage interest rates fell and real estate inventory declines slowed, more potential home-buyers applied for home loans this week, according to the Mortgage Bankers Association (MBA). The MBA’s Weekly Mortgage Applications Survey found that home purchase mortgage requests jumped by 7% in the latest week, bring total application volume up for the first time in […]

more »

Refinance Applications Fall to 20-year Low

Jul 5th, 2018 @ 8:54 AM by Amber Nelson

Even though mortgage interest rates dropped in the latest week, home loan requests also decreased, with refinance applications dropping to one of their lowest readings in 20 years, according to the Mortgage Bankers Association. “Financial market volatility in response to continued worries about trade resulted in both lower mortgage rates and a drop in applications […]

more »

Refinance Applications Plummet to 17-Year Low

May 24th, 2018 @ 6:54 PM by Amber Nelson

A year of steadily rising mortgage interest rates has kept many borrowers from refinancing, according to the Mortgage Bankers Association (MBA), with applications for refinance loans falling to the lowest in over 17 years. During its latest weekly survey, the MBA’ Market Composite Index, a measure of total refinance and home purchase application volume, declined […]

more »

Mortgage Applications Jump As Borrowers Anticipate Higher Rates

Jan 17th, 2018 @ 8:57 PM by Amber Nelson

U.S. mortgage borrowers came out in force in the latest week, according to a new report from the Mortgage Bankers Association , a likely indication that consumers see the writing on the wall when it comes to historically low interest rates. The MBA’s Market Composite Index, a measure of total home loan application volume, jumped […]

more »

Mortgage Activity Drops to 9-Month Low

Nov 1st, 2017 @ 10:52 AM by Amber Nelson

As long-term U.S. mortgage interest rates moved higher, mortgage application volume fell to its lowest level since mid-February, according to data from the Mortgage Bankers Association. The MBA Market Composite Index, a measure of total mortgage loan application volume, dropped 2.6 percent in the week ended October 27, 2017, from the previous week. While home […]

more »

Lenders Loosen Mortgage Standards as Rates Jump

Oct 13th, 2017 @ 5:06 PM by Amber Nelson

Mortgage lenders made more home loan credit available in September, according to a new report from the Mortgage Bankers Association, although interest rates jumped up to a 10-week high during the latest week. The MBA’s Mortgage Credit Availability Index (MCAI) rose to a reading of 181.4 in September, up 0.7 percent from August. An increase […]

more »

Mortgage Applications Jump as Rates Rest

Jul 21st, 2017 @ 9:45 PM by Amber Nelson

A pause in mortgage interest rates may have helped push the volume of home loan applications higher in the latest week , according to data from the Mortgage Bankers Association. The rise came mostly from refinance requests as home purchase application volume saw little change. The MBA’s seasonally adjusted Market Composite Index, a measure of […]

more »