Mortgage Industry News
A Phil Hall Op-Ed: The Smearing of Erik Siebert
The Interim US Attorney was slandered by President Trump after concluding the mortgage fraud case against Letitia James would not stand up in court. Continue Reading A Phil Hall Op-Ed: The Smearing of Erik Siebert
Ex-NASA Manager and Husband Plead Guilty in Mortgage Fraud Case
Khan and Mayberry face up to five years in federal prison and a possible $250,000 maximum fine in addition to the possible forfeiture of their luxury home. Continue Reading Ex-NASA Manager and Husband Plead Guilty in Mortgage Fraud Case
Refinancing Fuels 20.4% Upswing in Mortgage Application Activity
The seasonally adjusted Purchase Index increased 9% from one week earlier. Continue Reading Refinancing Fuels 20.4% Upswing in Mortgage Application Activity
Union Home Mortgage Acquires Nations Reliable Lending
The financial terms of the deal were not disclosed. Continue Reading Union Home Mortgage Acquires Nations Reliable Lending
Bank7 Acquires First American Mortgage
First American Mortgage has operated since 1993 and facilitated over $3 billion in funding. Continue Reading Bank7 Acquires First American Mortgage
Home price growth slowed for the second straight month in May, S&P Case-Shiller says
Source: CNBC --- Home prices in May were 19.7% higher compared with the same month last year, according to the S&P CoreLogic Case-Shiller National Home Price Index. This marks the second month of slower increases, as the housing market cools due to higher mortgage...
Falling home prices? This interactive map shows the statistical odds of it occurring in your local housing market
Source: Fortune --- Talk about a 180. Not only has the Pandemic Housing Boom—which pushed U.S. home prices up 42% over the past two years—fizzled out, but we've seen it replaced by a "housing recession." Across the nation, home sales are plummeting and inventory...
Economic calendar: What’s driving mortgage rates the week of July 25-29
Source: Bankrate --- Mortgage rates are notoriously unpredictable. True to form, no one is quite sure how rates will respond to this week’s looming rate hike by the Federal Reserve. On Wednesday, the central bank’s Federal Open Market Committee wraps up a July meeting...
Mortgage and real estate news this week: A home as an inflation hedge, and how to get the best rate
Source: Bankrate --- Now is a challenging time to buy a home due to rampant inflation, but you may still consider making a home purchase, which could help soften the toll of inflation on your financial life in the years ahead. Meanwhile, learn more about the pros and...
Falling home prices? This interactive map shows the statistical odds of it occurring in your local housing market
Source: Fortune --- Talk about a 180. Not only has the Pandemic Housing Boom—which pushed U.S. home prices up 42% over the past two years—fizzled out, but we've seen it replaced by a "housing recession." Across the nation, home sales are plummeting and inventory...
Don’t look now, but the housing market is slowing down. What it means for you
Source: Miami Herald --- The tea leaves are lining up in favor of homebuyers who can afford today’s higher mortgage rates. Multiple sources indicate that more and more people are canceling their home purchases because rates have moved beyond their reach — a situation...
How the Fed’s escalating fight against inflation is hitting the hot housing market
Source: CNBC --- The Covid-19 pandemic caused chaos in the U.S. housing market, with prices skyrocketing, inventories dwindling and intense bidding wars. Then came record inflation, which drove the price of everything higher. The U.S. Federal Reserve, though, is...
Housing market enters recession territory. Here’s what that means
Source: Deseret News --- If you’ve been paying attention to the U.S. housing market, you’ve likely seen words like “correction” and “recession” crop up more and more. Earlier this week, National Association of Home Builders CEO Jerry Howard warned on Fox Business’...
Colorado, Utah, Idaho metros had the biggest share of sellers dropping home prices in June
Source: Fox Business --- A recent report by Redfin indicated over 25% of home sellers in three-quarters of metros tracked by the brokerage nationwide dropped their asking prices in June. In some areas, more than 60% of sellers dropped their prices which, according to...
Biggest Drop of The Week; Lowest Rates Since Early June
Source: Mortgage News Daily --- The market came into the week with a big focus on the scheduled policy announcement from the European Central Bank (ECB). While our focus remains on mortgage rates in an entirely different continent, major goings on in European markets...
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