Mortgage Industry News
Commercial Mortgage Delinquencies Up During Q2
“The delinquency rate for commercial mortgages increased in the second quarter of 2025 across most major capital sources,” said MBA’s Reggie Booker. Continue Reading Commercial Mortgage Delinquencies Up During Q2
Michigan Credit Union Offers Mortgages at 4.99% Rate
Michigan Legacy has more than $218 million in assets and is designated as a “low-income credit union.” Continue Reading Michigan Credit Union Offers Mortgages at 4.99% Rate
Homeownership Expenses Consume One-Third of National Average Wage
Nationwide, the typical $2,021 cost of mortgage payments, homeowner insurance, mortgage insurance and property taxes is down 0.7% quarterly. Continue Reading Homeownership Expenses Consume One-Third of National Average Wage
Sluggish Refinance Activity Drives Down Mortgage Application Levels
The Refinance Index decreased 5% from the previous week, although it was 63% higher than the same week one year ago. Continue Reading Sluggish Refinance Activity Drives Down Mortgage Application Levels
Cornerstone Capital Bank in Joint Ventures with Texas, North Carolina Homebuilders
Cornerstone is now managing joint venture mortgage companies with 15 homebuilders nationwide. Continue Reading Cornerstone Capital Bank in Joint Ventures with Texas, North Carolina Homebuilders
How to Financially Prepare for Buying a House
Source: U.S. News --- Getting to a point where you feel emotionally and mentally ready to buy a house can be a journey on its own. But your work doesn't stop there. Most homebuyers don't have a lump sum they can use to buy a home in one cash payment. Instead, buyers...
Mortgage Rates Move Lower For Third Straight Day
Source: Mortgage News Daily --- We're in the middle of a 4 day week culminating in one of the most important events of the year for interest rates. Thursday morning brings the release of the Consumer Price Index (CPI)--an inflation report that has resulted in bigger...
Cardinal Financial review: A mortgage lender with options for tiny homes and other unique housing
Source: Business Insider --- The bottom line: Cardinal Financial is a good mortgage lender for FHA borrowers or buyers considering a unique type of home, such as a tiny home or a shipping container home. Its application platform also makes it easy to upload documents...
Brokers urged to educate clients on green mortgages
Source: FT Adviser --- The mortgage industry has a role to play in combatting climate change and reducing people's energy bills, yet the vast majority of borrowers do not understand green mortgage products, research suggests. A survey from the Mortgage Advice...
Mortgage rates collapse on softer inflation data
Source: Housing Wire --- Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the...
Local homes sales drop as mortgage rates rise
Source: WWNYTV 7 News --- WATERTOWN, New York (WWNY) - Mortgage rates are right around 7 percent for a 30-year fixed rate. Nationally, rates are at their highest since 2006 and they’ve nearly doubled since last year. So, what is this doing to the local housing market?...
Should You Pay Points to Get a Lower Mortgage Rate?
Source: Yahoo! Finance --- With mortgage rates near 20-year highs, some homebuyers are struggling to afford homes. The average rate for a 30-year fixed mortgage was 6.95% in November’s first week, dipping from a 7.08% peak a week earlier, according to Freddie Mac...
Marry the House, Date the Mortgage Rate – Does It Work?
Source: Yahoo! --- The average U.S. rate for a 30-year fixed mortgage reached a 20-year high of 7.08% in the final week of October, more than doubling from a year earlier, according to Freddie Mac (FMCC). Homebuyers aren’t happy. On a $350,000 home loan, a mortgage...
Fed sees risk of big declines in still-lofty US house prices
Source: The Business Times --- THE Federal Reserve suggested on Friday (Nov 4) that lofty home prices could be susceptible to steep declines after big run-ups in recent years on the back of ultra-low interest rates. “With valuations at high levels, house prices could...
Mortgage rates just dipped, and home prices may be ‘reaching the peak’ — but buyers hoping for a free-fall ‘will be disappointed’
Source: Yahoo! --- After climbing above 7% for the first time in 20 years, U.S. mortgage rates moved back down this week even as the housing market continues to reel from high borrowing costs. Rates also dipped despite the Federal Reserve announcing another hike of...
