Healthy Jobs Report in June Increases Prospect of Fed Rate Hike
The U.S. economy added 209,000 jobs in June as the unemployment rate stayed flat at 3.6%, according to the U.S. Bureau of Labor Statistics.
The...
Consumers Reconciled to Status Quo Housing Market
The Fannie Mae Home Purchase Sentiment Index (HPSI) remained mostly flat in June, increasing by only 0.4 points to 66.0, as difficult supply and...
Mortgage Applications Fell as Rates Hit New Highs Last Week
Mortgage application volume decreased 4.4% on an adjusted basis during the week ended June 30, as the average rate for a 30-year fixed-rate mortgage...
Mortgage Rates Continue Their Upward Trajectory
Mortgage rates increased for a second straight week, with the average rate for a 30-year fixed-rate mortgage rising to 6.81%, up from 6.71% last...
FFIEC Releases 2022 Mortgage Market Activity Stats
According to the Federal Financial Institutions Examination Council (FFIEC), data is now available on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure...
NewDay USA Lauded for Tough Data Security Measures
NewDay USA, a VA mortgage company, has achieved ISO/IEC 27001:2013 certification, recognizing its commitment to the highest level of information security.
Following a comprehensive preparation...
Pending Home Sales Dipped in May But Housing Market Remains Resilient
Pending home sales decreased 2.7% in May compared with April and were down 22.2% compared with May 2022, according to the National Association of...
Reena Agrawal: How AVMs Can Promote More Equitable Home Valuations
PERSON OF THE WEEK: Minority communities are facing significant hurdles in their quest to build equity and accumulate wealth when it comes to access...
Mortgage Applications Increased 3 Percent Last Week, Driven Mostly by New Home Sales
Mortgage application volume increased 3% during the week ended June 23, as the average rate for a 30-year fixed rate mortgage increased slightly to...
Case-Shiller: U.S. Home Prices Increased 0.5 Percent in April, Buoyed by Low Inventory
U.S. home prices increased 0.5% on an adjusted basis in April compared with March but were down 0.2% compared with April 2022, according to...
New Home Sales Jumped in May as Homebuilders Struggled to Bring More Inventory Online
New home sales surged in May to a seasonally adjusted annual rate of 763,000, an increase of 12.2% compared with April and up 20.0%...
Defaults Ahead: Are Lenders and Servicers Prepared?
BLOG VIEW: There is a notable shift afoot in default servicing. Defaults are ahead, and there is an impending need for mortgage lenders to...
Pew Charitable Trusts: Small Mortgage Dilemma Persists
Small mortgages are important tools for wealth-building and homeownership opportunities in financially undeserved communities. However, many homebuyers have struggled in recent years to obtain...
U.S. House Passes Middle-Class Borrower Protection Act
The U.S. House of Representatives last week passed the Middle-Class Borrower Protection Act of 2023, sponsored by Rep. Warren Davidson (R-OH), chairman of the...
Fannie Mae ESR Group: Inflation Continues, Recession Likely
According to June 2023 commentary from the Fannie Mae Economic and Strategic Research (ESR) Group, mixed data has painted a muddled picture of macroeconomic...
MMI Rolls Out ROI Calculator For Mortgage Lenders
Mobility Market Intelligence (MMI), which offers data intelligence and market insight tools for the mortgage and real estate industries, has released a new ROI...
Existing-Home Sales Eked Out an Increase in May Despite Low Inventory, Higher Rates
Existing-home sales edged up 0.2% in May compared with April but remained down 20.4% compared with May 2022, according to the National Association of...
Mortgage Rates Dipped For a Third Week as Homebuyers Wait on the Sidelines
Mortgage rates dipped for a third straight week as the average rate for a 30-year fixed-rate mortgage fell to 6.67%, down from 6.69% last...
Capitalizing on Home Equity Trends Amid an Economic Downturn
BLOG VIEW: As the mortgage market contracts in the face of inflation and high interest rates, lenders are increasingly competing for a smaller number...
First Federal Buys BNC National Bank Mortgage Division
First Federal Bank, a provider of consumer and commercial banking solutions, services and loans, has acquired the assets and employees of BNC National Bank's...