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Mortgage Rates Up Sharply

Mortgage Rates Up Sharply

by Phil Hall | Oct 10, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage rates soared in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.32% as of Oct. 10, up from last week when it averaged 6.12%. A year ago at this time, it averaged 7.57%. The 15-year...
Mortgage Application Activity Slows Down

Mortgage Application Activity Slows Down

by Phil Hall | Oct 9, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage application activity slowed during the week ending Oct. 4, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 5.1% on a seasonally adjusted basis from one...
Massachusetts in Settlement with Franklin Credit Over Zombie Second Mortgages

Massachusetts in Settlement with Franklin Credit Over Zombie Second Mortgages

by Phil Hall | Oct 4, 2024 | Mortgage Information, News/Current Events, Real Estate News, WRE News Exclusive

Massachusetts Attorney General Andrea Joy Campbell announced a settlement with mortgage servicer Franklin Credit Management Corporation that resolves allegations that the company violated state consumer protection laws by improperly attempting to collect on debts in...
Mortgage Rates Record Uptick

Mortgage Rates Record Uptick

by Phil Hall | Oct 3, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage rates inched up in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.12% as of Oct. 3, up from last week when it averaged 6.08%. A year ago at this time, it averaged 7.49%. The 15-year...
Market Spotlight: Four New Regional Programs for Borrowers

Market Spotlight: Four New Regional Programs for Borrowers

by Phil Hall | Oct 3, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A quartet of new regionally focused programs for current and prospective homeowners have been announced this week. Westerly, Rhode Island-based Washington Trust has expanded its RI Community Lending Program with the addition of I Luv RI Home Improvement Loans as home...
Mortgage Application Activity Drops by 1.3%

Mortgage Application Activity Drops by 1.3%

by Phil Hall | Oct 2, 2024 | Mortgage Information, News/Current Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage application volume was down for the week ending Sept. 27, according to new data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 1.3% on a seasonally adjusted basis from...
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