Mortgage Industry News
Refinancing Action Sparks Uptick in Mortgage Application Activity
The FHA share of total applications increased to 17.9% from 17.5% the week prior. Continue Reading Refinancing Action Sparks Uptick in Mortgage Application Activity
HUD Updates 14 FHA Policies in Move to Improve Affordability
“Every unnecessary regulation comes with a cost, and too often homebuyers pay the price,” said HUD Secretary Scott Turner. Continue Reading HUD Updates 14 FHA Policies in Move to Improve Affordability
Mortgage Rates Tick Up Again
The 30-year fixed-rate mortgage averaged 6.53% as of May 28, up from last week when it averaged 6.51%, which marked a nine-month high. Continue Reading Mortgage Rates Tick Up Again
Q1 Purchase Loan Origination at 12-Year Low
Refinancing activity fell 7% quarter-over-quarter to 715,818 loans, although volumes were also 24% above the first quarter of 2025. Continue Reading Q1 Purchase Loan Origination at 12-Year Low
Report: 29% of Homebuyers Made All-Cash Purchases
All-cash purchasing was less prevalent in the pricey West Coast markets. Continue Reading Report: 29% of Homebuyers Made All-Cash Purchases
NYC Man Pleads Guilty to Using Mortgage Fraud for Buying Maine Marijuana Grow House
Ken Yiu faces up to 30 years in prison and a maximum fine of $1 million for the mortgage fraud count and 20 years in prison and a maximum fine of $500,000 for the drug count. Continue Reading NYC Man Pleads Guilty to Using Mortgage Fraud for Buying Maine Marijuana Grow House
Mortgage Application Activity Up by Nearly 5%
The FHA share of total applications increased to 20.2% from 18.3% the week prior. Continue Reading Mortgage Application Activity Up by Nearly 5%
Homeowners Face 73% Spike in Mortgage Payments If They Move
“The lock-in effect isn’t just theoretical; it’s a significant factor weighing on the decisions of American homeowners,” said Realtor.com Chief Economist Danielle Hale. Continue Reading Homeowners Face 73% Spike in Mortgage Payments If They Move
Mortgage Credit Availability Increases for Fifth Straight Month
“Mortgage credit availability increased for the fifth consecutive month to its highest level since 2022,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Increases for Fifth Straight Month
Report: Refinance Retention at 3.5-Year High
Non-banks retained refinancing borrowers at roughly three times the rate of banks (35% versus 13%). Continue Reading Report: Refinance Retention at 3.5-Year High
United Wholesale Mortgage’s Ishbia: Trump and Pulte ‘Care About the Housing Market’
“They’re thinking about things that we’ve all talked about in our industry,” he said. Continue Reading United Wholesale Mortgage’s Ishbia: Trump and Pulte ‘Care About the Housing Market’
Report: Grand Jury Refuses to Indict Letitia James in Mortgage Fraud Case
“This should be the end of this case,” said Abbe Lowell, James’ attorney. Continue Reading Report: Grand Jury Refuses to Indict Letitia James in Mortgage Fraud Case
Mortgage Rates Drop for Second Straight Week
The 30-year fixed-rate averaged 6.19% as of Dec. 4. Continue Reading Mortgage Rates Drop for Second Straight Week
Mortgage Application Activity Slows Again
Among the federal programs, the FHA share of total applications decreased to 18.3% from 18.8% the week prior. Continue Reading Mortgage Application Activity Slows Again
FHFA Gives Green Light for Use of FICO 10T Score Data
FICO announced the news in a corporate blog post; the FHFA has yet to make a formal announcement. Continue Reading FHFA Gives Green Light for Use of FICO 10T Score Data
