Fannie Mae Profit Margin Outlook Turned Positive

first_img in Daily Dose, Featured, Government, News Fannie Mae: Profit Margin Outlook Turned Positive Share Fannie Mae reported that the net profit margin outlook for mortgage lenders was positive for the first time in almost three years, primarily due to strong demand expectations for both purchases and refinances mortgages, according to the Q2 2019 Mortgage Lender Sentiment Survey. “Lenders are signaling strong demand-driven mortgage market dynamics, with optimism for both their consumer demand and profitability outlooks reaching multi-year highs,” said Doug Duncan, SVP and Chief Economist at Fannie Mae. “Lender sentiment regarding both recent and expected purchase mortgage demand growth across all loan types was the most upbeat in at least three years.”Of the lenders surveyed, consumer demand (64%) and operational efficiency and technology (32%) were the two main reasons for an increased positive outlook on the market.According to the report, 29% of lenders surveyed were positive on the markets’ outlook, which is a large increase from the 8% who had a negative outlook in Q1 2019.This is the first positive survey result since Q3 2016, and the second most positive reading in the survey’s six-year history. The last time the survey showed a positive result was Q2 and Q3 of 2016, when the readings were 12% and 11%, respectively.Lenders who had a negative outlook had gone as high as 34% in Q4 2018.Purchase mortgage demands increased across the board over the past three months, and are expected to do so over the next three months. GSE eligible mortgage demands reported a net increase of 39%, non-GSE eligible mortgages demands grew 48% and government mortgage demands increased 31% during Q1 2019.Those looking into refinancing due to low mortgage rates also saw big increases in Q1 2019. GSE eligible refinance demand grew 24%, non-GSE eligible refinance demand increased 13%, and Government refinance demand saw a 15% increase.According to a report by CNBC, the volume of mortgage applications rose 1.5% earlier this month, mostly due to those looking to refinance. The average interest rate for 30-year fixed rate mortgages was 4.23% earlier this month.  Black Knight report found declining mortgages have resulted in 5.9 million refinance candidates in April. center_img Fannie Mae Mortgage Lenders sentiment survey 2019-06-12 Mike Albanese June 12, 2019 367 Views last_img read more

Grace expects Greinke trade to have emotional impa

first_img Grace expects Greinke trade to have emotional impact Former Cardinals kicker Phil Dawson retires Comments   Share   Top Stories The 5: Takeaways from the Coyotes’ introduction of Alex Meruelocenter_img Derrick Hall satisfied with D-backs’ buying and selling As it turns out, Cooper was surprised at how easy it was for him to go toe-to-toe with the likes of Calais Campbell without any concern for his health or how his leg would respond. He said if you would have asked him during OTAs if there would be some reservations, he would have said yes. But it turned out those concerns went away as soon as the whistle blew. “You’re always a little nervous about what could, would, maybe happen, but I felt pretty good today.”That means from here on out, the story will no longer be about Cooper’s return from a devastating injury. If the steps following his injury went from needing a scooter to get around to being able to walk, and then from being able to walk to being able to run, and from being able to run to doing the movements required of a player at his position, and then leaning on a defensive lineman and pushing people around, he’s finally at a point where it’s all about what he can do on the field.“The next step is to just become a better player.” – / 32 GLENDALE, Ariz. — Jonathan Cooper said he passed a bit of a litmus test when he made it through Saturday’s training camp practice without incident. His next exam came Monday when he put on pads for the first time and got to hit others.He passed that one, too.“I had my ups and my downs, made a few mistakes, but I felt OK,” Cooper said. Cooper is penciled in as the Cardinals’ starting left guard, just as he was last season after the team selected him seventh overall out of North Carolina. He’s working his way back from a broken leg that cost him his entire rookie season, and while no one has doubted his ability or work ethic, there were questions — even from the player himself — about how long it would take to truly get over the injury.last_img read more

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