A new platform that promises buyers the ability to purchase a home with a mortgage as low as 2% has begun operations. The start-up Roam uses the mortgage assumption process where the buyer will take over (or assume) the existing mortgage terms from the seller. All...
A total of 33,952 residential properties had foreclosure filings in August, up 7% from the previous month but down 2% from one year earlier, according to data from ATTOM. Nationwide, one in every 4,113 housing units had a foreclosure filing last month. The states with...
Mortgage application activity went into decline again last week, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the trade group’s measure of mortgage loan application volume, was down by 0.8% on a seasonally adjusted basis...
The 30-year fixed-rate mortgage averaged 7.12% as of Sept. 7, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is a decline from last week when it averaged 7.18%. A year ago at this time, it averaged 5.89%. “For the fourth...
The average monthly principal and interest (P&I) payment for borrowers purchasing a home using a 30-year fixed-rate loan in July was $2,306, according to new data from Black Knight Inc., now part of Intercontinental Exchange Inc. (NYSE: ICE). That sum, which...
Redwood Trust, Inc. (NYSE: RWT) has launched Aspire, an in-house home equity investment (HEI) origination platform designed to provide consumers access to their home equity without additional monthly payment obligations. The Mill Valley, California-based company plans...
