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...
A total of $480.1 billion in new mortgages were originated in 2022 for apartment buildings with five or more units, according to new data from the Mortgage Bankers Association. This represents a 1% year-over-year decline. Last year’s total was generated by 2,242...
CBC Mortgage Agency, a Native American-owned nationally chartered housing finance agency headquartered in Cedar City, Utah, was approved by the U.S. Department of Agriculture (USDA) to provide 30-year mortgage loans for borrowers outside of urban and suburban areas....
Mortgage rates ascended anew in Freddie Mac’s (OTCQB: FMCC) latest Primary Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 6.81% as of July 27, up from last week when it averaged 6.78%. A year ago at this time, it averaged 5.30%. The 15-year...
U.S. mortgage delinquency plummeted to a historic depth, according to new data from CoreLogic that determined 2.6% of all mortgages were in some stage of delinquency during May. This is down from 2.8% in April and 2.7% in May 2022. During May, early-stage...
Hits and Misses for the Real Estate Week of June 29-July 3
