Mortgage Industry News
New York State Considers Expanding CRA Law to Cover Nonbank Mortgage Lenders
The proposed regulation tests will take place where the nonbanks are originating loans rather than where they have a physical branch presence. Continue Reading New York State Considers Expanding CRA Law to Cover Nonbank Mortgage Lenders
Mortgage Application Activity Down Slightly
The MBA reported mortgage applications for new home purchases in November were up 7.2% year-over-year. Continue Reading Mortgage Application Activity Down Slightly
Mortgage Rates Fall Further Away From 7%
The 30-year fixed-rate mortgage averaged 6.67% as of Dec. 21, down from last week when it averaged 6.95% Continue Reading Mortgage Rates Fall Further Away From 7%
MBA: Median Mortgage Payments Drop by $62 in November
“Homebuyer affordability improved in November, with a decline in mortgage rates providing relief to prospective homebuyers,” said MBA’s Edward Seiler. Continue Reading MBA: Median Mortgage Payments Drop by $62 in November
Mortgage Application Activity Trends Downward
The Refinance Index decreased 2% from the previous week, although it was 18% higher than the same week one year ago. Continue Reading Mortgage Application Activity Trends Downward
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