Mortgage rates have been on the decline since late April, as closely watched data releases suggest the economy is cooling and that the Fed may start cutting rates as soon as September. Continue reading
Modest pilot program approved by federal regulators was opposed by banks who have traditionally provided most home equity loans. Nonbank lenders have already made inroads into the business. Continue reading
Fannie Mae on Friday slashed its 2024 forecast as a result of weak spring home sales, but listings are returning to the market and mortgage rates look poised to drop, according to new projections. Continue reading
Fathom Holdings beefs up title coverage in three states with “strategic addition” to geographic footprint, acquiring nine-person title agency with offices in Utah, Colorado and Virginia. Continue reading
Purchase loan applications have surged for two weeks in a row, but rates for conforming mortgages are inching back up toward 7 percent this week as investors weigh the odds of Fed rate cuts. Continue reading
NFM Lending is the first to take advantage of Knock API integrations, which let loan officers know if homebuyers can tap the equity in their existing home and buy before they sell. Continue reading
Card issuer Wells Fargo is losing as much as $10 million a month as it eats interchange fees for users who are paying off balances after paying their rent, “The Wall Street Journal” reports. Continue reading
Key Fed inflation metric expected to drop June 28 following unexpected decline in May wholesale prices and jump in jobless claims to highest level since August 2023. Continue reading
Policymakers now envision making just one rate cut this year, but investors who fund most mortgages are still betting the central bank will change its tune if inflation continues to ease. Continue reading
Rates have returned to last week’s levels, when applications for purchase loans leapt by 9 percent from the week before, and refi applications surged by 28 percent. Continue reading