Rocket Mortgage, the retail home lender division of Rocket Cos. (NYSE: RKT), has introduced ONE+, a 1% down home loan program designed to expand access homeownership for low- and moderate-income households. According to the Detroit-headquartered company, the new...
Mortgage applications for new home purchases were up by 4.1% in April from one year ago but were down 11% from March, according to new data from the Mortgage Bankers Association (MBA). The MBA estimated that new single-family home sales were running at a seasonally...
Freddie Mac (OTCQB: FMCC) released the results of its Primary Mortgage Market Survey, and it is not welcome news for those hoping to see mortgage rates decline. The 30-year fixed-rate mortgage averaged 6.39% of May 18, up from last week when it averaged 6.35%. A year...
There was bad news and good news for independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks during the first quarter of this year. The bad news: these entities reported a net loss of $1,972 on each loan they originated during the quarter,...
It’s no secret that today’s housing market poses a number of obstacles to purchasing a home. Interest rates have risen nearly three percentage points over the last year. Inflation has cooled but remains high. And housing affordability and housing availability remain...
Mortgage application activity slowed last week as rates continued to rise, according to new data from Mortgage Bankers Association (MBA). The MBA’s Market Composite Index, a measure of mortgage loan application volume, was down by 5.7% on a seasonally adjusted basis...
Texas Attorney General Warns Localities Against Violating New Law in Raisin…
