We’ll add more market news briefs throughout the day. Check back to read the latest.Mortgage rates: 30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio 15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio Home equity rates: Average Home Equity Loan Bank Rates by State | Credio Average Home Equity Loan Bank Rates by State | Credio Average Home Equity Loan Credit Union Rates by State | Credio Most recent market news:
Purchase mortgage demand
Purchase mortgage demand growth over the prior three months has steadily declined for all loan types, when compared with Q1 2016 and Q1 2015, reaching the lowest reading for any first quarter since Q1 2014.
The near-term outlook showed a similar trend, with the net share expecting increased demand over the next three months declining to the lowest level for any first quarter since the survey’s inception in Q1 2014.
Refinance mortgage demand
For refinance mortgages, the net share of lenders reporting rising demand over the prior three months fell to the lowest level since Q1 2014. On net, lenders reporting demand growth expectations for the next three months rose from survey lows last quarter (Q4 2016).
Easing of credit standards
Lenders continued to report modest net easing of credit standards across all loan types for the prior three months and continued to report expectations to modestly ease credit standards over the next three months, with the majority of lenders expecting their credit standards to stay about the same.
On net, lenders continued reporting expectations to grow GSE (Fannie Mae and Freddie Mac) and Ginnie Mae shares and reduce portfolio retention and whole loan sales shares, although to a lesser extent.
Mortgage servicing rights execution
This quarter, slightly more lenders reported expectations to increase rather than decrease their share of MSR sold and to decrease rather than increase the share of MSR retained that is serviced by a sub-servicer. The majority of lenders continue reporting expectations to maintain their MSR execution strategy.
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