Mortgage applications activity took a downturn in the latest data report from the Mortgage Bankers Association (MBA) for the week ending Jan. 26. The Market Composite Index was down by 7.2% on a seasonally adjusted basis from one week earlier, although the unadjusted...
The 30-year fixed rate mortgage averaged 6.69% as of Jan. 25, up from last week when it averaged 6.60%, according to Freddie Mac’s (OTCQB: FMCC) latest Primary Mortgage Market Survey. A year ago at this time, it averaged 6.13%. The 15-year fixed-rate mortgage averaged...
Sales of new single‐family houses in December were at a seasonally adjusted annual rate of 664,000, according to estimates from the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8% above the revised November rate of 615,000 and is...
The Mortgage Bankers Association (MBA) reported the total number of loans now in forbearance decreased by 3 basis points to 0.23% as of Dec. 31. According to MBA’s estimate, 115,000 homeowners are in forbearance plans. In December 2023, the share of Fannie Mae and...
The Federal Trade Commission (FTC) has started a claims process for consumers victimized by a phony mortgage relief operation known as Lanier Law that collected upfront fees of thousands of dollars and promised consumers lower monthly payments but failed to deliver....
Mortgage applications for new home purchases in December were up by 22.2% from one year earlier, according to new data from the Mortgage Bankers Association (MBA). Compared to November, the application volume dipped by 4%. The MBA estimated new single-family home...
