Closing costs and monthly mortgage payments spiked last year while Black and Hispanic buyers faced higher levels of denial on home loans, according to the new report “Data Point: 2022 Mortgage Market Activity and Trends,” published by the Consumer Financial Protection...
The level of mortgage application activity declined last week, according to new data the Mortgage Bankers Association (MBA). The Market Composite Index, the trade group’s measure of mortgage loan application volume, was down by 1.3% on a seasonally adjusted basis from...
Teachers Federal Credit Union, one of the nation’s largest credit unions with $9.7 billion assets and more than 460,000 members in all 50 states, has begun offering VA loans for active-duty military, veterans, and surviving spouses. “It is our honor to serve...
The 30-year fixed-rate mortgage averaged 7.19% as of Sept. 21, according to data from Freddie Mac (OTCQB: FMCC). This is up slightly from last week when it averaged 7.18%. A year ago at this time, it averaged 6.29% “Mortgage rates continue to linger above 7% as the...
There was good news on the application front last week, according to the latest data from the Mortgage Bankers Association. The Market Composite Index, the trade group’s measure of mortgage loan application volume, was up by 5.4% on a seasonally adjusted basis from...
The total number of mortgage loans now in forbearance fell by 6 basis points month-over-month to 0.33% as of Aug. 31, according to data from the Mortgage Bankers Association (MBA). Roughly 165,000 homeowners are currently in forbearance plans. During August, the share...
