Mortgage rates were on the decline again, according to the latest Primary Mortgage Market Survey published by Freddie Mac (OTC:FMCC). The 30-year fixed-rate mortgage averaged 6.27% as of April 13, down from last week when it averaged 6.28%. A year ago at this time, it...
Mortgage application activity was on the rise last week, according to new data from the Mortgage Bankers Association (MBA). The MBA’s Market Composite Index, a measure of mortgage loan application volume, was up 5.3% on a seasonally adjusted basis from one week...
United Wholesale Mortgage (UWM) has debuted Conventional 1% Down, a product designed to enable homebuyers to purchase a home with a down payment of only 1% contributed by the borrower. According to the Pontiac, Michigan-based company, when a borrower puts 1% down with...
Planet Home Lending, a national mortgage lender and servicer, has introduced 1st Year Flex as a loan option for people who want to pursue homeownership with a lower monthly payment for one year. According to the Meriden, Connecticut-based company, 1st Year Flex is a...
Bismarck, North Dakota-based BNCCORP Inc. (OTCQX: BNCC) announced it is exiting the residential mortgage origination space and selling the mortgage division of its wholly owned subsidiary, BNC National Bank, to First Federal Bank of Lake City, Florida. BNC’s...
Mortgage credit availability inched up last month, according to the latest Mortgage Credit Availability Index (MCAI) report published by the Mortgage Bankers Association (MBA), although the level of available is still close to a 10-year low. The MCAI was up by 0.4% to...
