Mortgage Rates Tick Up as Inflation Reaccelerates
Mortgage rates inched back up this week, as the average rate for a 30-year fixed-rate mortgage increased to 7.18%, up from 7.12% last week,...
Susan Graham: Lessons Learned From 40 Years in Mortgage Servicing Software
PERSON OF THE WEEK: Financial Industry Computer Systems (FICS) is one of the oldest mortgage software companies in the industry. Since 1983, the firm...
Mortgage Credit Availability: Slight Increase in August
According to the Mortgage Credit Availability Index (MCAI), a report from the Mortgage Bankers Association (MBA) that analyzes data from ICE Mortgage Technology, mortgage...
U.S. Home Prices Continued to Rise in July, Despite Higher Mortgage Rates
Driven by lack of inventory - and despite higher mortgage rates - U.S. home prices continued to increase in July, rising 0.4% compared with...
Loan Size Impact on Profitability Subject of New MBA White Paper
Originating and servicing higher-balance loans means higher profits – at least that’s the conventional wisdom. A new white paper recently released by the Mortgage...
Mortgage Rates Decrease But 30-Year Still Hovers at Just Above 7 Percent
The average rate for a 30-year fixed-rate mortgage decreased to 7.12% during the week ended September 7, down from 7.18% the previous week, according...
High Interest Rates Push Mortgage Payments Up for Many
Black Knight Inc.'s September Mortgage Monitor Report examines the phenomenon of $2,000-$3,000 monthly mortgage payments, which have rapidly become the norm in today's housing...
MCT: Mortgage Rate Lock Volume Fell in July on Higher Rates
Mortgage lock volume decreased 4.76% in July compared with June, according to Mortgage Capital Trading’s (MCT) monthly rate lock volume report.
The slight dip in...
MBA Taps George Rogers as VP of Legislative Affairs
George Rogers, an experienced government affairs executive and attorney, has joined the Mortgage Bankers Association (MBA) as vice president of legislative affairs.
Rogers was previously...
ICE Finalizes Purchase of Black Knight
Intercontinental Exchange Inc., a global provider of data, technology and market infrastructure, has completed its acquisition of Black Knight Inc., a software, data and...
Weak Jobs Report Signals Slowdown is Looming
The U.S. economy added 187,000 jobs in August - less than expected - while the unemployment rate rose to 3.8%, according to the U.S....
Location-Based Rate Incentives Aid Homebuying in Underserved Areas
To underscore its commitment to underserved communities, Diamond Residential Mortgage Corporation (DRMC), an Illinois-based mortgage lender licensed to originate and service mortgage loans in...
Encompass Lending Group Expands Reach in the Lone Star State
Encompass Lending Group has expanded its operations in Texas through the addition of Austin-based Elite Financing Group, a residential mortgage lender. Elite Financing Group...
Mortgage Rates Dip as Fed Determines Next Steps
The average rate for a 30-year fixed rate mortgage fell for the first time in four weeks, dipping to 7.18%, down from 7.23% last...
NAR: Pending Home Sales Saw Small Gain in July
Pending home sales increased 0.9% in July compared with June but were down 14% compared with July 2022, according to the National Association of...
Case-Shiller: Home Prices Continued to Rise in June, But With Stark Regional Differences
Despite rising mortgage rates, U.S. home prices continued to inch up in June, rising 0.7% after seasonal adjustment compared with May, according to the...
Mortgage Lenders Should Focus on the Employee Experience, STRATMOR Report Shows
In order for mortgage lenders to deliver a better borrower experience and win more business, they must put a greater focus on the employee...
Guild Expands Market Share with First Centennial Acquisition
Guild Mortgage, a mortgage lending company originating and servicing residential loans since 1960, has acquired First Centennial Mortgage, a privately held residential mortgage lender...
Freddie Mac: Average Rate for a 30-Year Mortgage Climbs to 7.23 Percent
The average rate for a 30-year fixed-rate mortgage this week surged to 7.23%, up from 7.09% last week and up from 5.55% a year...
Mortgage Purchase Applications Drop to Lowest Level Since 1995
Mortgage application volume decreased 4.2% during the week ended August 18, as the average rate for a 30-year fixed-rate mortgage climbed to 7.31%, according...