Mortgage application activity trended downward during the week ending Nov. 1, according to data from the Mortgage Bankers Association (MBA). This marked the sixth straight week of application activity decline. The Market Composite Index, the MBA’s measure of mortgage...
The Consumer Financial Protection Bureau (CFPB) has filed a proposed order to resolve charges that Townstone Financial, a nonbank mortgage broker and lender, intentionally discriminated against predominantly Black neighborhoods in Chicago in violation of the Equal...
The personal finance company NerdWallet Inc. (NASDAQ: NRDS) has expanded into the mortgage brokerage industry with its $1 million all-cash acquisition of Next Door Lending. NerdWallet CEO Tim Chen announced the acquisition in the company’s third quarter earnings...
Homebuyer affordability improved last month as the national median payment applied for by purchase applicants dropped by 0.8% from $2,057 in August to $2,041 in September, according to the Mortgage Bankers Association’s (MBA) Purchase Applications Payment Index....
Mortgage rates continued their upward climb in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.72% as of Oct. 31, up from last week when it averaged 6.54%. A year ago at this time, it...
While current mortgage rates are in the vicinity of 7%, roughly half (45%) of recent homebuyers secured a mortgage with a rate below 5%, according to data from Zillow (NASDAQ: Z, ZG). More than one-third (35%) of these recent buyers were able to get a lower rate...
