Two New York men were sentenced by U.S. District Judge Omar A. Williams in Hartford, Connecticut, for perpetrating a $50 million mortgage fraud scheme. According to the charges brought against them, Jacob Deutsch and Aron Deutsch worked at B H Property Management LLC...
Mortgage credit availability decreased in December, according to new data from the Mortgage Bankers Association (MBA). The trade organization’s Mortgage Credit Availability Index (MCAI) dropped by 4.6% last month to 92.1 – the index was benchmarked at 100 in March...
The Fannie Mae (OTCQB: FNMA) Home Purchase Sentiment Index (HPSI) closed 2023 on the upswing with a 2.9-point rise in December to 67.2. The year-end increase was attributed to a spike in the number of consumers expecting mortgage rates to go down over the next 12...
Mortgage rates held steady in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.62% as of Jan. 4, up slightly from last week when it averaged 6.61%. A year ago at this time, it averaged 6.48%....
The median U.S. mortgage payment during the four weeks ending Dec. 31 was $2,361, according to data from Redfin (NASDAQ:RDFN). This represents a $372 decline (-14%) from October’s all-time high to the lowest level in nearly a year. As payment levels decline, buyer...
Mortgage application activity for the last two weeks of 2023 was down, according to new data from the Mortgage Bankers Association (MBA) for the week ending Dec. 29. The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 9.4% on a...
