In less than a week, a series of reports has changed the outlook for the timing and magnitude of future Fed rate cuts, sending mortgage rates into a five-day tailspin. Continue reading
Unlike subprime loans that were subjected to minimal underwriting standards in the runup to the housing crash and 2007-09 Great Recession, UWM’s zero-down loans have to meet criteria set by mortgage giant Freddie Mac. Continue reading
Mortgage rates have some room to come back down in June after PCE price index shows annual inflation easing to 2.65 percent in April, and Q1 2024 GDP growth revised downward to 1.3 percent. Continue reading
Washington Trust “vehemently” denied the allegations leveled by the Justice Department last fall, but agreed to invest and spend at least $9 million to improve access to mortgage credit in minority neighborhoods in Rhode Island. Continue reading
As rates on conventional mortgages head back above 7 percent, homebuyer demand for purchase loans is wilting, with applications dropping for a third week in a row last week, according to an MBA survey. Continue reading
Rocket Homes Chief Technology Officer John Fair told Inman the tool has already resulted in users spending nearly twice as long on the lender’s website and returning six times more frequently. Continue reading
Homeowners can’t sell a primary residence through Xome’s seller portal without a listing agent, but can hire an agent on their own or ask Xome to match them with one. Continue reading
Bond market investors who fund most mortgages shrugged off hawkish remarks by Federal Reserve Governor Christopher Waller that he wants to see “several more months of good inflation data” before cutting rates. Continue reading
While lenders welcomed the increase, it might benefit homebuyers as well, by giving loan servicers more incentive to process FHA loan assumptions quickly. Continue reading
This year, Calque has partnered with some big names including C2 Financial and Cornerstone First Mortgage, as well as a number of smaller players like Portland, Oregon-based Theory Mortgage. Continue reading