Mortgage rates held steady in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 7.76% as of Nov. 2, down from last week when it averaged 7.79%. A year ago at this time, it averaged 6.95%. The...
The Federal Housing Administration (FHA) is seeking feedback on proposed policy updates to its Home Equity Conversion Mortgage (HECM) program. According to an announcement issued by the U.S. Department of Housing and Urban Development (HUD), the proposed updates are...
Roughly half (47.4%) of mortgaged U.S. residential properties were considered equity-rich in the third quarter, according to new data from ATTOM – down from 49.2% in the second quarter, which is the largest quarterly decline in four years. The share is also down...
Mortgage application activity was down for the third consecutive week, according to new data from the Mortgage Bankers Association (MBA). The Market Composite Index, the trade group’s measure of mortgage loan application volume, was down by 2.1% on a seasonally...
loanDepot Inc. (NYSE: LDI) has launched its “accessZERO” program to assist borrowers challenged with barriers to affordable homeownership. The new program is available nationwide for Federal Housing Administration purchase mortgages and offers up to 5% in down payment...
Rocket Mortgage, a division of Rocket Companies (NYSE: RKT), announced an update to its Pathfinder tool, an artificial intelligence (AI) and machine learning-powered search engine used by mortgage bankers, brokers and underwriters. A new AI chat interface in...
Hits and Misses for the Real Estate Week of Aug. 10-14
