Pending Home Sales Fell in May Despite Rising Inventory
Pending home sales decreased 2.1% in May compared with April and were down 6.6% compared with May 2023, as higher mortgage rates continued to...
EquiFi Taps Paul Giangrande to Head Up its Mortgage Division
Mortgage industry veteran Paul Giangrande has joined EquiFi, a provider of shared equity home financing solutions, as corporate executive vice president and president of...
Freddie Mac: Mortgage Rates Decreased for a Third Week
Mortgage rates continued to edge down for a third week, with the average rate for a 30-year, fixed-rate mortgage falling to 6.86%, down from...
Mortgage Applications Up Slightly Last Week as Rates Edged Down
Mortgage application volume increased 0.8% during the week ended June 21, as the average rate for a 30-year, fixed-rate mortgage fell to 7.04%, down...
Xactus Hires Joseph Peterson as Chief Financial Officer
Joseph Peterson has joined Xactus, a provider of verification solutions to the mortgage industry, as chief financial officer.
Peterson has more than 30 years of...
New Home Sales Tanked in May as Mortgage Rates Hovered Around 7 Percent
New home sales in May were at a seasonally adjusted annual rate of 619,000, a decrease of 11.3% compared with April and down 16.5%...
Optimal Blue Helps Lenders Optimize Margins with Competitive Loan Pricing Data
Optimal Blue has introduced Competitive Data License, a collection of key national mortgage pricing data that enables lenders to price products competitively, operate more...
The Amherst Group Taps Paul Nicholson as Deputy Chief Investment Officer
Paul Nicholson has joined The Amherst Group, a real estate investment, development and operating platform specializing in residential assets, as deputy chief investment officer.
Nicholson...
The Mortgage Collaborative: Business Development a Top Concern for Lenders in 2024
When asked to rank-order the most critically important issues facing mortgage lenders today, respondents to The Mortgage Collaborative’s 2024 Pulse of the Network survey...
Home Prices Continued to Rise in April, But Rate of Appreciation is Slowing
Driven by a lack of inventory, U.S. home prices continued to increase in April, rising 0.3% on an adjusted basis compared with March, according...
Home Flipping Increased Slightly in Q1, Average Profit Per Flip Soared to 30 Percent
While home flipping decreased rapidly from the third quarter of 2022 to the fourth quarter of 2023, due to lack of inventory, it saw...
FHFA Grants Conditional Approval for Freddie Mac to Purchase Second Mortgages
The Federal Housing Finance Agency (FHFA) has granted conditional approval for Freddie Mac to purchase certain single-family closed-end second mortgages as a pilot program.
This...
Housing Starts Slowed in May as Higher Mortgage Rates Continued to Dampen Demand
Housing starts were at a seasonally adjusted annual rate of 1.277 million in May, a decrease of 5.5% compared with April and down 19.3%...
NAR: Existing-Home Sales Dipped in May Despite Increasing Inventory
Existing-home sales decreased 0.7% in May compared with April to a seasonally adjusted annual rate of 4.11 million, according to the National Association of...
Motto Mortgage Opens Location in Saint Augustine, Headed by Jaren Woeppel
Motto Mortgage has announced the opening of its latest franchise in Saint Augustine, Fla.
The new office, Motto Mortgage INVICTUS, is headed by Navy veteran...
Planet Home Lending Taps Tom Reber as Area Sales Manager for North Florida
Tom Reber recently joined Planet Home Lending as area sales manager for north Florida and southern Georgia.
Reber is a 30-year mortgage industry veteran, with experience in...
Rate of Critical Defects in Mortgage Loans Dropped 8.38 Percent in Q4
The rate of critical defects in mortgage loans post-closing was 1.53% as of the end of the fourth quarter, according to ACES’ quarterly Mortgage...
U.S. Home Prices Increased 0.5 Percent in May
The “Five D’s” - diapers, diplomas, divorce, downsizing and death - continue to drive a large share of U.S. home sales, as a majority...
Mortgage Rates Fell for a Third Straight Week
Mortgage rates dipped for a third straight week, with the average rate for a 30-year fixed-rate mortgage falling to 6.87%, down from 6.95% last...
Higher Mortgage Rates Continue to Put a Damper on Home Builder Sentiment
Builder confidence in the housing market dropped in June to a score of 43 on the National Association of Home Builders (NAHB)/Wells Fargo Housing...