Total household debt increased by $109 billion in during the second quarter to $17.80 trillion, a 0.6% uptick, according to new data from the Federal Reserve Bank of New York. Regarding housing debt, the new data report found mortgage balances up by $77 billion from...
Mortgage rates dipped to a six-month low in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.73% as of Aug. 1, down from last week when it averaged 6.78%. A year ago at this time, it averaged...
Mortgage application activity dropped during the week ending July 26, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 3.9% on a seasonally adjusted basis from...
Dallas-headquartered Mr. Cooper Group Inc. (NASDAQ: COOP) is acquiring the mortgage operations of Flagstar Bank for $1.4 billion. The acquisition encompasses Flagstar’s MSRs, advances, subservicing contracts, and a third-party origination platform. The purchase will...
Homebuyer affordability was slightly less onerous last month as the national median payment applied for by purchase loan applicants decreased to $2,167 from $2,219 in May, according to new data from the Mortgage Bankers Association (MBA). However, on a year-over-year...
Rocket Mortgage, a division of Rocket Companies (NYSE: RKT), topped the JD Power 2024 US Mortgage Servicer Satisfaction Study. This marked the tenth consecutive year that the Detroit-headquartered company ranked first on JD Power’s mortgage servicing study. The US...
