The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.88% of all loans outstanding during the fourth quarter of 2023, according to new data from the Mortgage Bankers Association (MBA). The...
Mortgage applications were on the rise last week a new survey finds most Americans are predicting a decline in mortgage rates this year. The Mortgage Bankers Association’s (MBA) Market Composite Index was up by 3.7% on a seasonally adjusted basis from one week earlier...
Baltimore-headquartered First Home Mortgage Corp. has debuted its First Home ONE Program, which is designed to enable qualified buyers to purchase a home with 3% equity but only 1% down payment. Under this program, the buyer contributes 1% and First Home Mortgage...
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...
