Freddie Mac (OTCQB: FMCC) announced potential homebuyers earning 50% of area median income or less will be eligible for a $2,500 credit that may help with down payment and other costs at closing under a new initiative that begins on March 1. The funds can also be used...
U.S. household debt increased by $212 billion (1.2%) during the fourth quarter of 2023 to reach a total of $17.5 trillion, according to the Federal Reserve Bank of New York’s Center for Microeconomic Data. Mortgage balances rose by $112 billion from the previous...
Madison, Wisconsin-based Fairway Independent Mortgage Corp. announced it will be closing its wholesale division. The final lock date on new loans is scheduled for Feb. 9 and the last day to submit new loans is Feb. 16, with brokered loans required to be closed by...
Tammac Holdings Corp., a Wayne, Pennsylvania-based provider of financial solutions in the manufactured housing industry, has received license approval to offer manufactured and mobile home loans in the states of Michigan and Alabama. “Tammac is excited to extend our...
The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is down last week when it averaged 6.69%, and it is up from the 6.09% average of one year ago at this time. The...
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...
