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...
Atlanta-based Equifax (NYSE: EFX) has unveiled Employment Select+, a new tool for the mortgage origination process. Employment Select+ uses data from Equifax’s proprietary database The Work Number to provide originators at closing with an instant view into a...
The share of home loans in forbearance declined by 4 basis points from March to April, reaching a level of 0.51% of servicers’ portfolio volume, according to new data from the Mortgage Bankers Association (MBA). The share of Fannie Mae and Freddie Mac loans in...
U.S. household debt passed the $17 trillion mark for the first time, according to data from the Federal Reserve Bank of New York. The newly published Quarterly Report on Household Debt and Credit reported a $148 billion (0.9%) increase to $17.05 trillion by the end of...
The latest Primary Mortgage Market Survey from Freddie Mac (OTCQB: FMCC) showed rates taking a slight drop from last week. The 30-year fixed-rate mortgage averaged 6.35% as of May 11, down from last week when it averaged 6.39%. A year ago at this time, the rate...
