The latest data from the Mortgage Bankers Associations’ (MBA) Mortgage Credit Availability Index (MCAI) recorded a nadir not seen in a decade. The MCAI was down by 0.3% to 96.3 in July; the index was benchmarked to 100 in March 2012. The Conventional MCAI decreased by...
The share of new home sales backed by Federal Housing Administration (FHA) loans increased to 14% in the second quarter from 12.1% in the first quarter, according to a new data analysis from the National Association of Home Builders (NAHB). The second quarter’s...
The typical U.S. homebuyer’s monthly mortgage payment was $2,605 during the four weeks ending July 30, according to new data from Redfin (NASDAQ:RDFN). This represents a 19% year-over-year spike, but it is also $32 less than the record-high payment level from early...
The 30-year fixed-rate mortgage inched closer to the 7% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB:FMCC). According to the government-sponsored enterprise, the 30-year fixed-rate mortgage averaged 6.90% as of Aug. 3, up from last...
Mortgage application activity slowed during the past week, according to new data from the Mortgage Bankers Association (MBA). The Market Composite Index, the trade group’s measurement for mortgage loan application volume, dropped by 3% on both a seasonally adjusted...
A Florida man who engaged in a fraudulent mortgage audit operation is facing the prospect of up to 20 years in prison after pleading guilty to conspiracy to commit wire fraud. Brian Roy Lozito owned and managed American Investigative Services (AIS), which targeted...
