Mortgage application activity and credit availability declined in the latest data reports from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 10% on a seasonally adjusted basis for...
President Donald Trump has accused Sen. Adam Schiff (D-CA) of mortgage fraud when Schiff was a member of the House of Representatives. In a posting on Truth Social, Trump stated Schiff listed a property in Maryland as his primary residence so he could achieve more...
The Wall Street Journal’s editorial board has published two scathing criticisms of the housing policies espoused by President Donald Trump and Federal Housing Finance Agency Director Bill Pulte. In the editorial “How to Increase Mortgage Defaults,” the Journal’s...
A federal appeals court overturned the mortgage fraud conviction of former Baltimore State’s Attorney Marilyn Mosby but upheld two perjury convictions relating to her case. The Philadelphia Tribune reports the 4th US Circuit Court of Appeals issued a 2-1...
Adjustable-rate mortgages (ARMs) have gained in popularity among borrowers seeking home loans from large banks, according to a new data report from the Federal Reserve Bank of Philadelphia. Conventional ARMs accounted for 25.1% of large bank first mortgage...
After five weeks in decline, mortgage rates were on the rise in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.72% as of July 10, up from last week when it averaged 6.67%. A year ago at this...
