The recent snowstorms that disrupted the nation are being blamed for hampering mortgage application activity during the week ending Jan. 30. “Winter Storm Fern likely had an impact as much of the country was snowed in, hampering homebuying activity,” said Joel Kan,...
Mortgage rates inched up slightly for the second straight week, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.10% as of Jan. 29, up from last week when it averaged 6.09%. A year ago...
A trio of financial services industry trade groups – the Mortgage Bankers Association, America’s Credit Unions and the Independent Community Bankers of America – are lobbying the Trump administration to consider three actions that they claim could lower borrowing...
Mortgage application activity took a downturn for the week ending Jan. 23, according to data from the Mortgage Bankers Association (MBA). This week’s results include an adjustment for the Martin Luther King Jr. Day federal holiday. The Market Composite Index, the...
The law firm of Hagens Berman has announced a consumer class action lawsuit against Rocket Companies (NYSE: RKT) that accuses the Detroit-based financial giant of forcing its agents to steer clients into using Rocket Mortgage. The lawsuit, which was filed Jan. 26 in...
The national mortgage delinquency rate fell by 16 basis points (bps) in December to 3.68% following November’s calendar related high, according to data from ICE Mortgage Technology. This marked a 3 bps dip from December 2024 and a 26 bps decline from the December 2019...
