Homebuyers seizing the day as mortgage rates continue to slide

Demand for purchase loans picks up for fourth consecutive week, and bond market investors are pushing rates lower on hopes for Fed easing as inflation subsides. Continue reading

FHA 2024 loan limits are headed up, chasing rising home prices

Annual home price appreciation of 5.5 percent pushes FHA loan limits up to a minimum of $498,257 in affordable markets, and to a ceiling of up to $1.72 million in high-cost states like Alaska and Hawaii. Continue reading

Fannie and Freddie 2024 loan limits upped to $766,550 in most areas

Surge in Q3 home price appreciation pushes conforming loan limit in high-cost markets to $1,149,825 for one-unit properties, and up to $2,211,600 for four-unit properties. Continue reading

Nation’s biggest title insurer hit by ransomware attack, reports say

Fidelity National Financial acknowledges that a “cybersecurity incident” disrupted the provision of title and escrow services and other technology and mortgage services. Continue reading

Economists agree rates have peaked. But will they come down?

Two closely watched forecasts agree that mortgage rates have probably peaked, but diverge sharply on how quickly they’ll come down over the next two years. Continue reading

Mr. Cooper faces slew of class action lawsuits after cyberattack

The servicer is facing five separate federal lawsuits over an Oct. 31 cyberattack that knocked out services for days and prevented borrowers from accessing their accounts or paying home loans. Continue reading

Homebuyers perk up as mortgage rates hit lowest level in 2 months

Requests for purchase loans were up 4 percent last week compared to the week before, but down 20 percent from the same time a year ago, according to a weekly survey of lenders by the Mortgage Bankers Association. Continue reading

Like a boyfriend, the perfect lender is experienced, well-funded: Triple-I

Neither brand recognition nor the promise of lower rates were as valuable to agents as a mortgage lender’s ability to reliably obtain funding, according to results from the latest Inman Intel Index. Continue reading

Mortgage groups urge FHA to ditch ‘life of loan’ premium payments

Having just slashed annual mortgage insurance premiums on new FHA loans by 35 percent in March, and with total insurance in force growing faster than reserves, HUD officials show no signs of giving in to long-standing industry demands. Continue reading