Mortgage rates shot up to the border of the dreaded 7% mark in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, up from last week when it averaged 6.77%. A year ago at this...
The Federal Housing Administration (FHA) is rolling out a new loss mitigation home retention option aimed at delinquent borrowers with FHA-insured single-family forward mortgages. The new option is called the Payment Supplement and it allows mortgage servicers to...
The level of mortgage application activity plummeted in the latest data report from the Mortgage Bankers Association (MBA). For the week ending Feb. 16, the MBA’s Market Composite Index dropped by 10.6% on a seasonally adjusted basis from one week earlier; the...
Mortgage rates were back on the rise, according to the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.77% as of Feb. 15, up from last week when it averaged 6.64%. A year ago at this time, it...
San Diego-headquartered Guild Mortgage (NYSE: GHLD) has acquired the retail lending assets of Academy Mortgage Corp., a Utah-based lender. Academy generated $5.59 billion in loan originations in 2023, and its approximately 200 branches and more than 1,000 employees –...
Hollywood, Florida-based A&D Mortgage is taking advantage of the quadrennial occurrence of a 366th day with its “Leap into Savings” promotion for mortgage brokers. Beginning today running through Feb. 29, “Leap into Savings” promotion offers a 37.5...
More Than Half of Homes for Sale on the Market for At Least 60 Days
