Research

The fourth 2023 quarterly installment of WFG’s ”Quarterly Economic Outlook,” an informative and influential webinar featuring Williston Financial Group (WFG) Chairman and Founder Patrick F. Stone and Economist and Forbes contributor Bill Conerly, Ph.D., will take place on Tuesday, December 5th at 2 pm ET/1 pm CT/11 am PT.

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $1,015 on each loan they originated in the third quarter of 2023, an increase from the reported loss of $534 per loan in the second quarter of 2023, according to the Mortgage Bankers Association’s (MBA) newly released Quarterly Mortgage Bankers Performance Report.

The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62 percent of all loans outstanding at the end of the third quarter of 2023, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.

Mortgage applications increased 2.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 3, 2023. 

Mortgage Capital Trading, Inc. (MCT®), a mortgage hedge advisory and secondary marketing software firm, reported a drop of 17.76% in mortgage lock volume over the prior month.

Veros Real Estate Solutions (Veros) released its 2023 Q3 VeroFORECAST that anticipates that home prices are expected to increase on average 2.2% over the next 12 months, compared to last quarter’s forecast of 1.7% increase, indicative of a steady market.

The Market Composite Index, a measure of mortgage loan application volume, decreased 6.0 percent on a seasonally adjusted basis from one week earlier.

Homebuyer affordability declined in August with the national median payment applied for by purchase applicants increasing to $2,170 from 2,162 in July. This is according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index (PAPI), which measures how new monthly mortgage payments vary across time – relative to income – using data from MBA’s Weekly Applications Survey (WAS). 

CoreLogic, a global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for July 2023. Here’s what the report concluded:

The Consumer Financial Protection Bureau (CFPB) released its annual report on residential mortgage lending activity and trends. In 2022, mortgage applications and originations declined markedly from the prior year, while rates, fees, discount points, and other costs increased.