Jerry Valenzuela NMLS 294911

The Mortgage News

Refinances Seen Falling to 38 Percent Market Share in 2014

Homeowners who refinanced through Freddie Mac in 2013 continued to display fiscal restraint, choosing fixed rate mortgages, keeping essentially the same mortgage balance, and in many cases opting for shorter-term loans to build equity more rapidly. In doing so homebuyers who refinanced during the year will save approximately $21 billion on net over the first 12 months of their new loans.

Commercial/Multifamily Lending Came on Strong in Q4; MBA Expects Healthy 2014

The Mortgage Bankers Association (MBA) called the fourth quarter of 2013 a particularly strong one for commercial and multifamily mortgage originations, with a total volume of around $280 billion in closed loans, the highest volume since 2007. Preliminary figures indicate that the volume for the entire year was up 15 percent from 2012 and increased 34 percent between the third and final quarter of 2013.

Sellers Worry about Buyer Credit Availability in Redfin Survey

Now that prices have recovered to within striking distance of where many folks purchased their homes, potential sellers have found something new to worry about. Can their potential buyer get a mortgage?