Mortgage Industry News
30-Year Fixed Rate Mortgage Drops to 3-Year Low
The 30-year fixed-rate mortgage averaged 6.06% as of Jan. 15. Continue Reading 30-Year Fixed Rate Mortgage Drops to 3-Year Low
December New Home Purchase Mortgage Applications Up by 2.5%
The average loan size for new homes increased from $378,063 in November to $380,607 in December. Continue Reading December New Home Purchase Mortgage Applications Up by 2.5%
Median Monthly Housing Payment in Biggest Decline Since Last November
Redfin attributed the lower payment level to declining mortgage rates. Continue Reading Median Monthly Housing Payment in Biggest Decline Since Last November
Mortgage Application Activity Rebounds After 4 Weeks in Decline
The Refinance Index increased by 9% and was also 111% higher than the same week one year ago. Continue Reading Mortgage Application Activity Rebounds After 4 Weeks in Decline
Report: Prosecutor Warns Mortgage Fraud Case Against Sen. Schiff Lacks Viable Evidence
A news report is claiming the Trump administration’s attempt to bring a mortgage fraud indictment against one of its most vocal critics, Sen. Adam Schiff (D-CA), has stalled due to a perceived lack of viable evidence needed to bring the case to trial. MSNBC, sourcing...
Monthly Mortgage Payment Average Continues to Decline
Redfin attributed this decline to the continued downturn in mortgage rates from its high of 7.79% in October. Continue Reading Monthly Mortgage Payment Average Continues to Decline
Mortgage Rates Down for Fifth Straight Week
The 30-year fixed-rate mortgage averaged 7.22% as of Nov. 30, down from last week when it averaged 7.29%. Continue Reading Mortgage Rates Down for Fifth Straight Week
FHA Proposes Changes to 203(k) Program
Feedback is being welcomed via the FHA’s website through Jan. 5, 2024. Continue Reading FHA Proposes Changes to 203(k) Program
Q3 Mortgage Originations Down 3% From Previous Quarter
On a year-over-year basis, originations were down by 26% from the third quarter of 2022. Continue Reading Q3 Mortgage Originations Down 3% From Previous Quarter
New Documentary Series ‘L.O. Confidential’ Focuses on Mortgage Originators
The Fairway Independent Mortgage Corp. production is now on YouTube. Continue Reading New Documentary Series ‘L.O. Confidential’ Focuses on Mortgage Originators
JZZ Technologies Closes Acquisition of Oxygen Mortgage
“I couldn’t be any more excited about joining with JZZ Technologies,” said Oxygen Mortgage President and CEO Rob Egeland. Continue Reading JZZ Technologies Closes Acquisition of Oxygen Mortgage
Mortgage Application Activity Rises Slightly
The seasonally adjusted Purchase Index was up 5% from one week earlier, but the unadjusted index dropped by 31%, Continue Reading Mortgage Application Activity Rises Slightly
FHFA Increases Conforming Loan Limits Values for 2024
Special statutory provisions establish different loan limits for Alaska, Hawaii, Guam, and the U.S. Virgin Islands. Continue Reading FHFA Increases Conforming Loan Limits Values for 2024
CFPB Fines Bank of America $12 Million Over HMDA Violations
“Bank of America violated a federal law that thousands of mortgage lenders have routinely followed for decades,” said CFPB Director Rohit Chopra Continue Reading CFPB Fines Bank of America $12 Million Over HMDA Violations
LendSure Mortgage Debuts Profit & Loss Loan Program
The program is designed for business owners and self-employed investors with fluctuating seasonal income or cash businesses. Continue Reading LendSure Mortgage Debuts Profit & Loss Loan Program
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