Mortgage credit availability remained unchanged from March to April, according to the Mortgage Credit Availability Index (MCAI) data from the Mortgage Bankers Association (MBA). The MCAI remained unchanged at 102.9 in April; the index was benchmarked to 100 in March...
A criminal investigation has been opened by the FBI and the US Attorney’s Office in Albany into allegations of mortgage fraud committed by New York Attorney General Letitia James. The Albany Times-Union first reported the story, which followed a criminal referral...
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...
