Mortgage Industry News
Christine Chandler Sworn in as Mortgage Bankers Association’s 2026 Chairperson
Chandler is the executive vice president and chief operating officer at M&T Realty Capital Corporation. Continue Reading Christine Chandler Sworn in as Mortgage Bankers Association’s 2026 Chairperson
Mortgage Rates Take Another Tumble
The 30-year fixed-rate mortgage averaged 6.27% as of Oct. 16. Continue Reading Mortgage Rates Take Another Tumble
Mortgage Rates Decline Again
The 30-year fixed-rate mortgage averaged 6.77% as of June 26. Continue Reading Mortgage Rates Decline Again
Mortgage Application Payments Increased in May
The national median mortgage payment for conventional loan applicants was $2,235, up from $2,206 in April and up from $2,226 in May 2024. Continue Reading Mortgage Application Payments Increased in May
FHFA Orders Review for Using Cryptocurrencies in Mortgage Market
No deadline was set, but Pulte asked that the directive “should be implemented as soon as reasonably practical.” Continue Reading FHFA Orders Review for Using Cryptocurrencies in Mortgage Market
Homebuyers again retreat to the sidelines as higher rates crimp affordability
Source: USA Today --- Homebuyers started the year on a positive note when declining mortgage rates signaled increasing affordability. Mortgage applications rose 28% in one week in the middle of January as rates dipped to 6.2%. But that frenzy of activity was...
BMO Expands its Down Payment Program
BMO says it will commit $1 million to expand its Welcome Home Grant down payment program to five new markets including Minneapolis, Milwaukee, St. Louis, Indianapolis, and Lake County, IL – Kenosha County, WI. The bank said its efforts would help underserved...
Are All-Cash Buyers Dominating NYC Real Estate Market?
New real estate data and reporting recently revealed that nearly a third of U.S. homebuyers are sidestepping a mortgage and purchasing property via cash-only transactions, according to Redfin. This is a trend that is suddenly dominating big cities like Atlanta, Ga.,...
Flagstar Bank Donates $1 Million to Expand Appraiser Diversity
New York Community Bancorp, Inc. announced that its subsidiary, Flagstar Bank, N.A., has donated $1 million to the Appraiser Diversity Initiative (ADI), a collaboration between the Appraisal Institute, the National Urban League, Fannie Mae, and Freddie Mac. The...
Better Mortgage Launches Mortgage Product, called ‘Equity Unlocker’
Better Mortgage announced the launch of the Equity Unlocker program, a new financial product designed for those with vested equity in their employer, like many employees in the tech space. Amazon employees will be the first to have access to the Equity Unlocker, which...
Mortgage Lending Activity Slumps Across Country to Lowest Point in Nearly Nine Years
ATTOM, a curator of land, property, and real estate data released its fourth-quarter 2022 U.S. Residential Property Mortgage Origination Report, which shows that 1.52 million mortgages secured by residential property (1 to 4 units) were originated in the fourth...
I Raised My Mortgage Payment by Refinancing. Here’s Why I Don’t Regret That
Source: The Ascent --- In August 2020, the average 30-year mortgage rate fell to under 3%. Since I had a higher interest rate than that on my existing mortgage loan, I decided to jump on the opportunity to refinance. And at first, my thinking was that doing so would...
Realtor.com February Housing Report: Housing Inventory Recovery Continues, Giving Buyers More Options
The U.S. supply of homes for sale rose at a record annual pace for the sixth month in a row, up 67.8% year over year in February, signaling the housing market's continued rebalancing, according to the Realtor.co Monthly Housing Trends Report. Despite the significant...
Nearly 9 in 10 first-time sellers think they could have gotten a higher price by making different choices
An overwhelming share of Americans who sold a home for the first time in the past two years wish they had done something differently (84%). A new Zillow® survey conducted online by The Harris Poll finds that even in a sellers' market, many recent first-time sellers...
Behind the Housing Numbers: Mortgage Rates Are What Count
Source: Barron's --- The normally-busy spring home buying season is in its early days—but what lies in the coming months will look much different than last spring. A raft of recent housing data gives investors clues on what could happen next, but the number to watch...
