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Mortgage Interest Rates

Understanding how mortgage interest rates are quoted

The week in real estate industry deals: July 10-14, 2017

While real estate agents chase leads and close deals on houses, there’s another level of deal-making that takes place within the real estate industry: mergers, acquisitions, integrations and partnerships.

We’ll be recapping every week’s noteworthy deals that didn’t make it into print (and some that did) for your perusal.

We missed you last week!

July 5

The Miami Association of Realtors , The MLS in Beverly Hills , Calif., NorthstarMLS serving Minnesota and Western Wisconsin, CarolinaMLS in Charlotte, N.C., and GSREIN in New Orleans, La., have all signed agreements to deliver Remine’s big data and predictive analytics platform to their members. With these editions, Remine is now available to more than 400,000 Realtors nationwide.

Independent US Mortgage Bank Volumes and Profits Dip in Q1

Average production volume was $455 million per company in the first quarter of 2017, down from $690 million per company in the fourth quarter of 2016. The volume by count per company averaged 1,944 loans in the first quarter of 2017, down from 2,811 loans in the fourth quarter of 2016. The average pre-tax production profit was 10 basis points (bps) in the first quarter of 2017, down from an average net production profit of 24 bps in the fourth quarter of 2016. Since the inception of the Performance Report in the third quarter of 2008, net production income has averaged 51 bps. The purchase share of total originations, by dollar volume, was 68 percent in the first quarter of 2017, compared to 58 percent in the fourth quarter of 2016. For the mortgage industry as a whole, MBA estimates the purchase share at 59 percent in the first quarter of 2017.  The average loan balance for first mortgages was $242,949 in the first quarter of 2017, down from $246,473 in the fourth quarter of 2016.