Mortgage Industry News
Purchase Loans Up, Refinancing Down in Latest Mortgage Application Activity
Among the government programs, the FHA share of total applications remained unchanged at 19.1% from the week prior. Continue Reading Purchase Loans Up, Refinancing Down in Latest Mortgage Application Activity
Arizona Couple Sued for Running Foreclosure Rescue Schemes
Edward Trenton Albarracin and Gretchen Marie Zamjahn operated more than 50 fraudulent entities. Continue Reading Arizona Couple Sued for Running Foreclosure Rescue Schemes
January Foreclosure Activity Up 8% Month-Over-Month
Lenders started the foreclosure process on 20,994 properties in January. Continue Reading January Foreclosure Activity Up 8% Month-Over-Month
Mortgage Rates Go Into Decline
The 30-year fixed-rate mortgage averaged 6.89% as of Feb. 6. Continue Reading Mortgage Rates Go Into Decline
loanDepot and Onx Homes Announce New Joint Venture
The companies did not announce the leadership for Onx X+ Mortgage. Continue Reading loanDepot and Onx Homes Announce New Joint Venture
Staying defensive with dividends and real estate
Source: London South East --- Aug 16 - Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at [email protected] STAYING DEFENSIVE WITH DIVIDENDS AND REAL ESTATE (1220 EDT/1620...
Real Estate: Is It Better to Buy or Rent Your Home?
Source: The Street --- The answer isn't always simple and the current housing market has made the question one worth revisiting for many potential home-buyers. For the vast majority of Americans, a home stands as the largest purchase you will ever make. That's scary...
Wells Fargo Plans Major Retreat From Mortgage Business It Long Dominated
Source: Bloomberg --- Wells Fargo & Co. plans to shrink its vast mortgage empire, which once churned out one of every three home loans in the US and for a time made the bank the most valuable in the nation. No longer committed to ranking No. 1 in the business,...
Tough market: Rising mortgage rates making home buying harder
Source: Housing Wire --- The Rio Grande Valley was already struggling with housing affordability, and now higher mortgage interest rates are making it worse. That’s according to a new study from the Texas Real Estate Research Center of Texas A&M University, which...
US real estate market may be cooling, depending on who you ask
Source: ABC News --- Just a few months ago, the real estate market was favorable to people selling homes. The amount of buyers was increasing, the number of listings were down and interest rates were dropping, it seemed, across the country. Now, brokers are saying the...
Average mortgage debt rose 14% over the past 5 years
Source: Rome News Tribune --- The average mortgage debt held by American homeowners has risen 14%, according to Experian data. At the end of 2021, the average mortgage balance was $223,952 in the U.S., up from an average of $196,403 for the same time period in 2017. ...
Half of America has no idea what a mortgage actually is
Source: SWNS Digital --- Half of America has no idea what a mortgage actually is, new research suggests. That’s according to a recent survey that asked 2,000 Americans, 73% of them homeowners, to test their knowledge of both the housing market and financial lending...
Hidden costs of buying a home
Source: Bankrate --- If you’re planning to buy a new home soon, you’ve likely given some thought to the maximum price you can pay and the down payment you can offer. And if you plan to finance the purchase, the monthly mortgage payment could also be on the list of...
In this state, seniors can now freeze their property taxes — here’s how
Source: Market Watch --- A new property tax relief law went into effect this week in Maine, which could be a boon for seniors in the nation’s oldest state that also has the fourth-highest homeownership rate. Under the “Property Tax Stabilization Program,” seniors who...
Today’s Mortgage Rates & Trends – August 8, 2022: Rates seesaw
Source: Investopedia --- Rates on 30-year mortgages rose by almost four-tenths of a point Friday, extending a three-day pattern of dramatic up and down swings ranging from a third to a half a percentage point each day. National Averages of Lenders' Best Rates Loan...
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