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Volume 11 - Number 13

June 29, 2018

Downloads Available: Top FHA Purchase Lenders: 3M18

Downloads Available: FHA Purchase Mortgage Activity by State: 3M18

Rising Mortgage Rates Dampen FHA Purchase Production in 1Q18

FHA purchase loan originations, which comprise the bulk of the agencyís business, declined during the first quarter of 2018 as mortgage interest rates continued to rise. Approximately $34.8 billion in FHA-insured purchase mortgages were made during the first three months, down 13.5 percent from the previous quarter. Purchase originations also fell 12.0 percent year-over-year, data showed. Purchase loans accounted for 71.1 percent of all FHA loans made to consumers in the first quarter. Fairway Independent Mortgage Corp. led all lenders with $880.8 million. This week, the benchmark 30-year fixed-rate mortgage rose by 1 basis point to 4.71 percent from last week, according to Bankrateís weekly survey of large lenders. Four weeks ago, the rate was 4.64 percent. Over the past 52 weeks, the 30-year fixed has averaged 4.31 percent, Bankrate added. This weekís rate is 40 basis points higher than the ... [Charts]

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