Mortgage Rates Flattened This Week
Mortgage rates were basically flat this week, as the average rate for a 30-year fixed-rate mortgage dropped slightly to 7.76%, down 7.79% last week,...
FOMC Opts to Keep Fed Funds Rate Flat For Now
Citing strong economic activity and a low unemployment rate in the third quarter, the Federal Open Market Committee (FOMC) voted Wednesday to maintain the...
Rocket Mortgage Continues to Enhance its Pathfinder Tool
Rocket Mortgage is adding new features and capabilities to its Pathfinder tool, an AI and machine learning-powered search engine used by mortgage bankers, brokers...
New Home Sales Jumped 12.3 Percent in September, Despite Rising Mortgage Rates
After slumping the previous month, new home sales in September were at a seasonally adjusted annual rate of 759,000, up 12.3% compared with August...
Closed Home Sales Fall to Lowest Level Since Start of COVID
New listings climbed 1.4% month over month in September, the largest increase since February 2022 on a seasonally adjusted basis, according to a new...
Home Builder Confidence Dropped Again in October Due to Higher Mortgage Rates
Home builder confidence in October fell to the lowest level since January due to stubbornly high mortgage rates that have climbed to a 23-year...
Mortgage Lenders Can Now Count Income from ADUs When Underwriting FHA Loans
Mortgage lenders can now count income from accessory dwellings when underwriting Federal Housing Administration (FHA) loans.
The new policy aims to “help households of more...
MBA: Mortgage Applications Increased Slightly Last Week
Mortgage application volume increased 0.6% during the week ended Oct. 6, as the average rate for a 30-year fixed-rate mortgage increased to 7.67%, up...
Matt Stadler: With Default Servicing, Timing is Critical
PERSON OF THE WEEK: Default servicing is an important yet very distinct segment within the mortgage servicing industry. On the surface, its purpose seems...
Case-Shiller: Home Prices Continued to Rise in July, Providing Optimism
U.S. home prices increased 0.6% in July compared with June, flying in the face of higher mortgage rates and driven by a severe lack...
MBA: Share of Mortgage Loans in Forbearance Drops in August
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey reveals that the total number of loans now in forbearance decreased by six basis points...
Black Knight: Mortgage Activity Falls Amid Two-Decade High Rates
Black Knight, now a part of Intercontinental Exchange, has released its latest Originations Market Monitor report, examining mortgage activity through the end of August...
Housing Affordability Crisis Keeps Consumer Sentiment Low
The Fannie Mae Home Purchase Sentiment Index (HPSI) increased by 0.1 points to 66.9 in August, remaining effectively unchanged, as consumer confidence toward housing...
Redfin: One in Eight San Francisco Home Sellers Took a Loss
According to a new report from Redfin, roughly one of every eight (12.3%) homes that sold in San Francisco during the three months ending...
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...
Home Price Appreciation Up in July, Likely to Keep Rising
According to data from the American Enterprise Institute’s (AEI) Housing Center, national constant-quality home prices in July were up 2.7% from a month earlier...
Zillow Helps Eligible Homebuyers Reduce Down Payment to 1 Percent
Zillow Home Loans has unveiled its 1% Down Payment program to allow eligible homebuyers to pay as little as 1% down on their next...
Black Knight: Foreclosure Inventory at Lowest Level in 15 Months
Prospective homebuyers hoping to circumvent the rocky housing market and possibly save money by purchasing a house in foreclosure might want to rethink that...
Attempts at Mortgage Payoff Fraud Increase in First Half of 2023
PayoffProtect, a mortgage-payoff verification product of wire fraud protection company CertifID, tracked a five-time increase in mortgage payoff fraud attempts from the first quarter...
SoCal June Home Sales Down Nearly 25% Year Over Year as Prices Rise
CoreLogic released its monthly Southern California home sales report for June 2023, which includes data for new and resale single-family homes and resale condominiums...