Second homes lost their luster in 2024 as homebuyers only took out 86,604 mortgages on these properties, down 5% year-over-year to the lowest level dating back to 2018. According to data from Redfin (NASDAQ: RDFN), second home mortgages made up only 2.6% of all...
The 30-year fixed rate mortgage averaged 6.76% as of May 8, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is unchanged from last week and down from the 7.09% rate recorded one year ago. The 15-year fixed-rate mortgage...
Mortgage application activity picked up with new gusto for the week ending May 2, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, increased 11% on a seasonally adjusted...
Atlanta-headquartered American Bancorp Inc. and its subsidiary, American Pride Bank have launched APB Wholesale, a new Third-Party Origination (TPO) line of the bank’s mortgage division. According to the companies, mortgage professionals can access APB Wholesale’s...
One of the nation’s smallest states has the greatest increase of mortgage debt, according to a new data report from WalletHub. In an analysis of proprietary data from 2024’s third quarter to fourth quarter, Vermont recorded the greatest upswing in mortgage debt, with...
Mortgage rates continued to slide in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.76% as of May 1, down from last week when it averaged 6.81%. A year ago at this time, it averaged 7.22%....
