The typical American family needs to spend 38% of its household income to make a mortgage payment on a median priced new single-family home, according to the latest quarterly Cost of Housing Index data from the National Association of Home Builders (NAHB). For...
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $645 on each loan they originated during the first quarter, according to data from the Mortgage Bankers Association (MBA). This represents a decline from the...
The 30-year fixed-rate mortgage dropped below the 7% mark, averaging 6.94% as of May 23, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). A year ago at this time, it averaged 6.57%. “Spring homebuyers received an unexpected...
The Green Mountain State is awash in the red ink of mortgage delinquency, according to a new report from WalletHub. In its newly published “States Where Mortgage Delinquency Is Increasing the Most,” WalletHub detailed where home loans have become least affordable from...
Refinancing helped fuel an increase in mortgage application activity for the week ending May 17, according to new data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, increased 1.9% on a...
The U.S. Department of Veterans Affairs announced plans to publish a circular that would address the buyer commission prohibition on VA loans. The circular, which is planned to be issued by June 12, would address the changes to broker commissions enacted by the...
