Atlanta-based Citizens Trust Bank has launched its Down Payment Assistance Grant Program for eligible homebuyers seeking affordable housing opportunities. According to the bank, borrowers can receive a maximum of $2,000 grant contribution at the residential mortgage...
The 30-year fixed-rate mortgage averaged 6.87% as of March 21, according to the Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). Last week, the mortgage rate averaged 6.74%; one year ago at this time, it was at 6.42%. The 15-year fixed-rate...
A new data study from WalletHub that analyzed mortgage debt levels among the states between the third and fourth quarters of 2023 has found Maryland as the national leader in percentage terms, with the average balance rising by 1.23% to $283,092. WalletHub noted that...
Mortgage applications were in decline last week, according to new data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, dropped by 1.6% on a seasonally adjusted basis from one week earlier...
The Federal Housing Administration (FHA) announced new loan limits for its Title I Manufactured Home Loan Program, which marks the first time since 2008 that the loan limits are being increased. Effective for FHA case numbers assigned on or after March 29, the new...
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to new data from the Mortgage Bankers Association (MBA). This represented an increase...
