updated Tue. March 19, 2024
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National Mortgage News
April 26, 2018
If the 10-year Treasury sustains a yield above 3%, rates for the 30-year fixed-rate mortgage could hit 5% sooner than later. The yield broke through the 3% ceiling in the early morning hours of April 25 but it is unlikely mortgage rates followed in lock step. "There's a lot of competition for not a lot of lendingÃâà...
CNNMoney
April 26, 2018
The rate on a 30-year fixed mortgage climbed to 4.47% last week, the highest level since 2014. "The same $250,000 budget won't buy what it would have bought you last year," said Danielle Hale, chief economist for realtor.com. "But people are still finding ways to make that $250,000 work." Experts predictÃâà...
Bankrate.com
April 26, 2018
Refunds are on the way for borrowers hit with mortgage rate-lock extension fees that their bank should've covered. Wells Fargo is trying to make amends after multiple mishaps that made headlines nationwide. On April 20, the bank said it would pay $1 billion to federal regulators that fined it for allegedlyÃâà...
HousingWire
April 26, 2018
According to the company, Redfin Mortgage is “built to seamlessly integrate” with the company's home-buying service and Title Forward, Redfin's title insurance and settlement company. Redfin notes that its real estate agents are not compensated for recommending Redfin Mortgage or Title Forward.
The Mortgage Reports (blog)
April 26, 2018
That's a very slight improvement for mortgage rates. We have moved during the last week from "extreme fear" to mere "fear." Moving into a less fearful state is usually bad for rates. "Fearful" investors generally push bond prices up (and interest rates down) as they leave the stock market and move into bonds,Ãâà...
The MReport
April 26, 2018
Nearly one in 10 borrowers get denied for mortgages and 8 percent of loan applications are denied on a national level, according to an analysis by LendingTree, which looked at data from more than 10 million mortgage applications. LendingTree used the most recent available Home Mortgage DisclosureÃâà...
Investopedia (blog)
April 26, 2018
Refinance activity fell to 37.2% of total mortgage applications, the lowest level since September 2008. As interest rates rise, increasing the costs of getting a new mortgage, refinancing loses its appeal for many homeowners. The average interest rate for 30-year, fixed-rate mortgages with conformingÃâà...
Bankrate.com
April 26, 2018
Multiple key mortgage rates floated higher today. The average rates on 30-year fixed and 15-year fixed mortgages both climbed. On the variable-mortgage side, the average rate on 5/1 adjustable-rate mortgages also notched higher. Rates for mortgages are in a constant state of flux, but they continue toÃâà...
Greater Wilmington Business Journal
April 20, 2018
Mortgage rates may be inching up, but demand for mortgages remains strong in the Wilmington market, say brokers. “Basically, we've seen no slowdown; we're still seeing an increase,” said Jeff Gilley, sales director at Alpha Mortgage. “I really don't believe a person buying a house at 4 percent [interestÃâà...
The Mortgage Reports (blog)
April 20, 2018
In a rising rate environment, the decision to lock or float becomes complicated. Obviously, if you know rates are rising, you want to lock in as soon as possible. However, the longer you lock, the higher your upfront costs. If you are weeks away from closing on your mortgage, that's something to consider.
Motley Fool
April 20, 2018
You can also choose between fixed rate and adjustable rate mortgages. With a fixed rate mortgage, your interest rate and the principal and interest part of your payment never move throughout the life of your mortgage. With an adjustable rate mortgage, your interest rate resets every year -- sometimes afterÃâà...
CNBC
April 20, 2018
That is far more dependent on interest rates. Buyers are starting to take advantage of the lower rates offered by adjustable-rate mortgages. The ARM share of mortgage applications increased last week, along with a significant jump in overall applications to purchase a home. ARMs are a slightly more riskyÃâà...
Bankrate.com
April 20, 2018
Several benchmark mortgage rates cruised higher today. The average rates on 30-year fixed and 15-year fixed mortgages both trended upward. On the variable-mortgage side, the average rate on 5/1 adjustable-rate mortgages also climbed higher. Rates for mortgages are in a constant state of flux, butÃâà...
MarketWatch
April 19, 2018
Despite the enormous gains in the housing market, and the rapid surge in home prices in recent years, nearly 2 million people still owe more on their mortgage than their home is worth. Throughout much of the housing downturn a decade ago, the plight of underwater borrowers sparked fierce debates.
PYMNTS.com
April 17, 2018
For example, Fannie Mae and Freddie Mac have started backing loans made by lenders who offer to pay down a buyer's student debt or to help the self-employed obtain mortgages. They also started guaranteeing loans with down payments as low as 3 percent several years ago, and both Fannie and Freddie are backingÃâà...
Detroit Free Press
April 17, 2018
The trade publication Mortgage Daily confirmed that Quicken ranked first during the fourth quarter as the nation's largest retail mortgage lender for making loans directly to consumers. Wells Fargo, which also does mortgages beyond direct consumer loans, continued to rank as the largest lender overall.
The Mortgage Reports (blog)
April 17, 2018
Mortgage rates today are lower for the most part, even though data releases pointed to increasing rates. What we're seeing this morning, according to Mortgage News Daily, is a late rebound in bond prices yesterday, reversing yesterday morning's higher rates. Housing Starts and Building Permits for MarchÃâà...
National Mortgage News
April 17, 2018
DETROIT — While the West Coast still reigns as the epicenter of technology development, the Detroit area has quietly emerged as a proving ground for digital mortgage innovations. The area has become a center for innovation largely due to the presence of Quicken Loans, a nonbank lender that's enjoyedÃâà...
The MReport
April 17, 2018
Production profits for independent mortgage banks and mortgage subsidiaries in 2017 were almost half of what they were a year earlier, according to the latest MBA Performance Report. The report also revealed that production volumes were down over the year. On average, mortgage loans reaped $711Ãâà...
Bankrate.com
April 17, 2018
Several key mortgage rates increased today. The average rates on 30-year fixed and 15-year fixed mortgages both trended upward. Meanwhile, the average rate on 5/1 adjustable-rate mortgages also climbed. Mortgage rates change daily, but they remain low by historical standards. If you're in the marketÃâà...
MarketWatch
April 16, 2018
In 2010, these lenders originated just $34 billion in mortgages, representing 2% of the market. By December 2016, their market share had grown to 8%, or $161 billion in originations. Much of that growth came through Federal Housing Administration loans, which are generally given to borrowers with lowerÃâà...
Bankrate.com
April 16, 2018
Several closely watched mortgage rates notched higher today. The average rates on 30-year fixed and 15-year fixed mortgages both moved higher. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, also cruised higher. Mortgage rates are in aÃâà...
Honolulu Star-Advertiser
March 30, 2018
WASHINGTON >> Long-term U.S. mortgage rates moved little this week after a months-long stretch of increases. Mortgage buyer Freddie Mac said Thursday the average rate on 30-year, fixed-rate mortgages ticked down to 4.44 percent from 4.45 percent last week. The benchmark rate averaged 4.14Ãâà...
MarketWatch
March 30, 2018
As interest rates rise, fewer households refinance their mortgages. And the refinances that do get done are often very different than those initiated during low-rate periods. “When rates are low, the primary goal of refinancing is to reduce the monthly payment,” wrote researchers for the Urban Institute in aÃâà...
HousingWire
March 30, 2018
Redfin Mortgage currently offers fixed-rate and adjustable-rate conforming mortgages, as well as jumbo loans, along with fully underwritten ... If Redfin Mortgage is unable to fund a mortgage within 30 days, the company will give the homebuyer a $1,000 credit toward closing costs, subject to certain termsÃâà...
Bankrate.com
March 30, 2018
Amazon made it easier to order toilet paper and baby clothes without ever leaving your home. Will the behemoth online retailer provide you with your next mortgage? There's kind of perpetual sensitivity to Amazon entering the financial industry space in a real way. Analysts muse on Amazon buying a bank,Ãâà...
Builder Magazine
March 29, 2018
By applying for a mortgage online or on a phone, consumers can shave 10 days off the process, executives say. The Wall Street Journal's Laura Kusisto reports: Making it easier for those buyers to get mortgages could help Lennar with attracting millennials, a critical group of home buyers that have beenÃâà...
U.S. News & World Report
March 29, 2018
Higher mortgage rates have yet to dampen demand for homes. In fact the pace of Americans signing contracts to buy homes picked up last month, rebounding from a drop in January, according to data issued Wednesday by the National Association of Realtors. But mortgage rates have been rising asÃâà...
ABC News
March 29, 2018
A glance at US mortgage rates. By the associated press. Mar 29, 2018, 11:49 AM ET. 0 Shares. Email. Star. 0 Shares. Email. Average long-term U.S. mortgage rates moved little this week after a months-long stretch of increases.
The Mortgage Reports (blog)
March 29, 2018
Mortgage rates today are mostly unchanged, but some did increase over yesterday's surprising lows. This morning's economic releases. Weekly Jobless Claims (forecast was 330,000 new claims for benefits) came in with 315,000 claims, which is better for the economy but not good for mortgage rates.
MarketWatch
March 29, 2018
Rates for home loans edged down as bond yields plunged in response to worries about global trade and the technology sector. The 30-year fixed-rate mortgage averaged 4.44% during the week ending March 29, according to Freddie Mac's weekly survey, out Thursday. The 15-year fixed-rate mortgageÃâà...
CNNMoney
March 29, 2018
Barclays agreed Thursday to pay the United States $2 billion for allegedly deceiving investors about the quality of mortgage deals that fueled the 2008 financial crisis. The Justice Department said the British bank "caused billions in losses" to investors by engaging in a "fraudulent scheme" involving threeÃâà...
Bankrate.com
March 28, 2018
Multiple benchmark mortgage rates tapered off today. The average rates on 30-year fixed and 15-year fixed mortgages both ticked downwards. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, also slid lower. Rates for mortgages are constantlyÃâà...
American Banker
March 28, 2018
Quicken Loans' Rocket Mortgage has made waves because it promises to process a mortgage application in minutes and close the loan in under a month, but a new upstart is aiming to knock the firm, now the largest retail home lender in the country, off its perch. Lenda claims to make the fastest mortgagesÃâà...
Bankrate.com
March 27, 2018
Mortgage rates moved in different directions today. The average for a 30-year fixed-rate mortgage was unchanged, but the average rate on a 15-year fixed ticked up. On the variable-mortgage side, the average rate on 5/1 adjustable-rate mortgages trended down. Rates for mortgages are in a constant stateÃâà...
Bankrate.com
March 26, 2018
Multiple closely watched mortgage rates rose today. The average rates on 30-year fixed and 15-year fixed mortgages both climbed. The average rate on 5/1 adjustable-rate mortgages, or ARMs, the most popular type of variable rate mortgage, held steady. Mortgage rates are constantly changing, but,Ãâà...
The San Diego Union-Tribune
March 17, 2018
Securing a home loan is probably one of the most stressful parts of buying a new home. To get the best loan possible, it's important to know what factors affect interest rates — a fraction of an interest rate can translate into thousands of dollars less or more over the life of a loan. “When rates increase by 1Ãâà...
Motley Fool
March 17, 2018
Among homebuyers, the 30-year mortgage is by far the most popular option. Even with interest rates at extremely low levels, 30-year mortgages routinely make up more than 80% of all home loans. Yet there are alternatives to the 30-year mortgage that can make more sense for homeowners. In particularÃâà...
HousingWire (blog)
March 17, 2018
So, how is a daily mortgage lending industry email with disparaging jokes about women still a thing? Rob Chrisman distributes a daily email newsletter six times a week for the mortgage lending industry. It's a combo platter of news, events, industry gossip, paid promotional content, recruitment opportunitiesÃâà...
The Oakland Press
March 17, 2018
In addition, mortgage rates are as high as 4.5 percent, which has negatively affected the affordability of homes, meaning many buyers are deciding between a higher ... According to Realcomp, as long as the economy and stock market continue to fare well, increases in mortgage rates are likely to continue.
American Banker
March 17, 2018
Slideshow. Wells' OCC tipoff, crime-fighting AI and HSBC's mortgage play: Top stories of the week Ãâ÷ ICBA to House GOP: Don't obstruct reg relief Ãâ÷ New SunTrust IT chief weighs open banking, AI, fintech partnerships Ãâ÷ BankThink. Mulvaney's revamp of CFPB should include its innovation hub Ãâ÷ Morning Scan.
The Mortgage Reports (blog)
March 17, 2018
The added safety means government loans often have lower rates than conventional mortgages. The image below shows the difference in interest rate between government (FHA) loans and conforming (Fannie Mae and Freddie Mac) home loans. The rates for government-guaranteed loans are lower, butÃâà...
The Mortgage Reports (blog)
March 17, 2018
Mortgage rates today are little changed from yesterday's. It looks like we're in a holding pattern, but I expect repricing for worse this morning. Today brings some important reports: Housing Starts, Consumer Sentiment, and Industrial Production. Housing Starts in February declined to an annual rate of 1.24Ãâà...
National Mortgage News
March 16, 2018
Mortgage lenders are growing more pessimistic about their profitability, with the highest percentage ever seen in Fannie Mae's first-quarter industry sentiment survey expecting a decline in margins. "Lenders have faced an increasingly difficult market environment, as they report the most sluggish refinanceÃâà...
CNBC
March 16, 2018
Qualifying for a mortgage could require jumping through fewer hoops and meeting fewer requirements at banks with $10 billion or less in assets. To sidestep strict federal guidelines for so-called "qualified mortgages," those institutions would be required to keep the loan on their books instead of selling it,Ãâà...
Bankrate.com
March 16, 2018
Multiple key mortgage rates declined today. The average rates on 30-year fixed and 15-year fixed mortgages both receded. The average rate on 5/1 adjustable-rate mortgages, meanwhile, also slid lower. Rates for mortgages are constantly changing, but they continue to represent a bargain compared toÃâà...
Illinois Times
March 15, 2018
He once had a show on WMAY radio, where he was known as the Illinois Mortgage Man. Sam Madonia on WFMB has broadcasted live from Schaller's office on Greenbriar Road. On front-page State Journal-Register ads, Schaller appears in a coat and tie, smiling pleasantly, like any other workaday loanÃâà...
The Nation.
March 14, 2018
Ocwen doesn't own the loans it services; investors in mortgage-backed securities do. During the housing bubble, investment banks bundled thousands of mortgages together and created bonds, which were sold all over the world to sovereign wealth funds and pension funds and institutional investors.
HousingWire (blog)
March 14, 2018
There are a lot of things that many every-day consumers don't fully understand about mortgages – bits of knowledge that we take for granted as professionals who work in the business. It's just human nature for people to focus mostly on the house, itself, without thinking as much about the actual mortgageÃâà...
National Mortgage News
March 14, 2018
WASHINGTON — A mortgage program created by a 2015 partnership between the Federal Home Loan Bank of Chicago and Ginnie Mae recently crossed a milestone with over $1 billion in government-backed mortgages securitized through the venture, the partnership announced Wednesday. Six of theÃâà...
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