The Chedester Team

Mortgage News

• Look for 2019 Cash Out Boom?

  Look for 2019 Cash Out Boom?

  The post Look for 2019 Cash Out Boom? appeared first on National Real Estate Post.

• Lenders Looking to New Tech as Pessimism Over Profit Margins Grows

  Lenders continue to be pessimistic about their profit outlook as 2018 draws to an end.  Fannie Mae said its fourth quarter 2018 Mortgage Lender Sentiment Survey found the profit outlook reported by respondents at an all-time survey low.  This was true whether they were talking about purchase or refinance mortgages or about GSE-eligible, non-GSE-eligible, or government loans. It was the ninth consecutive quarter that lender outlook has declined. Smaller slices of a shrinking pie sums up the reasons given by lenders for their lowering outlook, especially for refinancing. 

• Not Just the Season; MBA Predicts New Home Sales Down Sharply

  The Mortgage Bankers Association (MBA) added a little more evidence to the pile indicating a rather rapid slow-down in the housing market.  MBA's Builder Application Survey (BAS) data for November shows mortgage applications for newly constructed home purchases falling by 14 percent compared to October.  The MBA data is not adjusted to account for seasonal variations, and while sales nearly always decline this time of year, applications were also down 11 percent compared to November 2017. Based on the survey data and assumptions about market coverage and other factors, MBA estimates new home sales were running at a seasonally adjusted annual rate of 627,000 units in November.