The 30-year fixed-rate mortgage inched up to 6.00% as of March 5, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). Last week, it fell below the 6.00% mark for the first time since 2022, averaging 5.98%. A year ago at this time,...
Mortgage application activity enjoyed a vigorous upswing during the week ending Feb. 27, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, increased 11% on a seasonally...
As the 30-year fixed-rate mortgage fell below 6% for the first time since 2022, Federal Housing Finance Agency Director Bill Pulte has credited President Trump as being the only reason that decline occurred. In a post on his personal X account, Pulte cheered,...
NewDay USA, the West Palm Beach, Florida-headquartered mortgage lender focused on the veteran community, has hired Brian D. Montgomery as vice chairman of the company’s advisory board. Montgomery is the only individual to serve as commissioner of the Federal...
Rocket Companies (NYSE: RKT) and Compass Inc. (NYSE: COMP) announced a three-year strategic alliance designed to expand home listings. As part of this alliance, Compass’ “Coming Soon” listings will appear immediately on Rocket’s Redfin platform, with “Private...
Salem, Oregon-headquartered Willamette Valley Bank announced it will discontinue it residential mortgage lending business effective March 31. “The residential mortgage industry has undergone significant changes in recent years, including the growth of online and...
Hits and Misses for the Real Estate Week of May 4-8
