Mortgage Industry News
Mortgage Rates at 10-Month Low
“Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates at 10-Month Low
Q2 Mortgage Delinquency Rate Down Slightly
The delinquency rate was down 11 basis points from the first quarter and down 4 basis points from the second quarter of 2024. Continue Reading Q2 Mortgage Delinquency Rate Down Slightly
Bank of America Reports 80% Surge in Q1 Mortgage Applications
“We’re seeing a steady increase in home buying activity, and it’s beyond what we would normally see from a seasonality perspective,” said Matt Vernon, head of consumer lending. Continue Reading Bank of America Reports 80% Surge in Q1 Mortgage Applications
Fannie Mae Forecasts Declining Mortgage Rates for 2025 and 2026
The revised forecast was mirrored by a mild upward revision for predicted existing home sales in 2025. Continue Reading Fannie Mae Forecasts Declining Mortgage Rates for 2025 and 2026
Mixed Results in Latest Mortgage Rate Data
The 30-year fixed-rate mortgage averaged 6.65% as of March 13 Continue Reading Mixed Results in Latest Mortgage Rate Data
I Don’t Want a Reverse Mortgage. What Are the Best Alternatives?
Source: Yahoo! Life --- A reverse mortgage can provide you with a steady stream of income in retirement. Reverse mortgages do have risks and they can affect your ability to pass on assets to your heirs later. Fortunately, there’s more than one alternative to reverse...
California home sales increase in January for second straight month as prices stabilize
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 241,520 in January, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide. The...
Fixed Rate Ending? How To Avoid Falling Off A ‘Mortgage Cliff’
Source: Forbes --- An estimated 800,000 home loans totalling $350 billion will fall off a ‘mortgage cliff’ this year when the loan switches from a fixed interest rate to a higher variable rate, according to estimates from the Reserve Bank of Australia (RBA). More...
Mortgage Rates Rise, Application Volumes Retreat
Source: Mortgage News Daily --- It was unrealistic to expect last week’s strong increase in mortgage activity to be sustainable in the current volatile rate environment, and indeed it was not. The Mortgage Bankers Association said its seasonally adjusted Market...
Will the Mortgage Third-Party Origination Channel Survive the Current Market?
Northpointe Bank, a regional bank headquartered in Michigan, has announced that they are closing their correspondent lending operations in April of 2023, and will shift their focus to retail lending, mortgage warehouse lending and specialty loan servicing. This...
Here’s how real estate escrow save you from scams
Source: CNBC TV18 --- Digital escrow is a secure and efficient online service for holding, releasing and managing funds and documents between two transacting parties. An escrow account enables an unbiased third party, i.e., the escrow agent, to secure money or assets...
Zillow Partnership with iBuyer Opendoor Launches in Atlanta, Raleigh
In August 2022, Zillow and Opendoor announced a multi-year partnership, bringing them together to transform how people initiate their move. The two companies announced that homeowners in Atlanta and Raleigh have a new way to explore multiple home-selling options on...
Covius Announces Integration with Flueid as Part of Larger Digital Transformation of Loss Mitigation
Covius, a provider of technology-enabled solutions to the financial services industry, announced today that its Settlement Services division is integrating with Flueid to accelerate the digital transformation of Covius' loss mitigation offerings. Flueid is a real...
This Cost-Lowering Idea Could Prove Risky
Source: Scotsman Guide --- The Federal Housing Finance Agency, Fannie Mae and Freddie Mac are taking steps to ensure that everyone has access to affordable housing — especially low- and moderate-income families. Certain components of these initiatives, however,...
Want a Lower Interest Rate? Try This Strategy
Source: The Ascent --- With mortgage rates hitting 20-year highs, the monthly payment for a $500,000 home is $1,000 higher than it was for the same loan a year ago. Are you looking for ways to lower your monthly mortgage payments? A mortgage buydown may be the answer....
