The 30-year fixed-rate mortgage continued its climb to the 8% level, averaging 7.63% as of Oct. 19, according to new data from Freddie Mac’s (OTCQB:FMCC) Primary Mortgage Market Survey. Last week, the 30-year fixed-rate mortgage averaged 7.57%. One year ago at...
A coalition of attorneys general from 50 states and territories announced a $20 million settlement with payment processor ACI Worldwide related to a 2021 testing error that created the unauthorized withdrawal of $2.3 billion from customers of Nationstar Mortgage (also...
Mortgage application activity plummeted to a 28-year low, according to data from the Mortgage Bankers Association (MBA) covering the week ending Oct. 13. The Market Composite Index, the trade group’s measure of mortgage loan application volume, slumped by 6.9% on a...
The First National Bank of Long Island, a Melville, New York-based subsidiary of The First of Long Island Corporation (NASDAQ: FLIC), announced that Rocket Mortgage, a division of Rocket Companies (NYSE: RKT), will be the preferred residential mortgage provider for...
The Mortgage Bankers Association is forecasting an increase in total mortgage origination to $1.95 trillion in 2024 from the $1.64 trillion expected in 2023, along with a mild recession during the first part of next year. The trade group also predicted purchase...
Philadelphia Federal Reserve President and CEO Daniel Harker addressed the Mortgage Bankers Association’s 2023 Annual Convention & Expo in Philadelphia this morning and admitted there was an absence of jubilation among the attendees regarding the central...
