Tag Archives: Banking & Lending

Mortgage rates tick back above 3% as economic recovery continues

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Freddie Mac’s chief economist said rates could continue to rise during the second half of the year after reaching historic lows in January. Continue reading →

Refinancing is easier than dieting, harder than training a dog: Survey

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In a new Zillow survey, homeowners ranked refinancing as easier than divorce or following a strict diet, but “significantly tougher” than training a puppy. Continue reading →

Purchase loan demand up again, bucking increase in mortgage rates

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Demand for purchase loans was up for the third week in a row last week, even as mortgage rates surged to the highest level in a month, according to a weekly survey by the Mortgage Bankers Association. Continue reading →

Spike in refis led last year’s home-lending boom, new data shows

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Lenders in 2020 refinanced more than twice as many loans as they reported the previous year, a dramatic feature of the pandemic lending boom. Continue reading →

JPMorgan Chase commits $400M to affordable housing

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The banking giant will provide low-cost loans, equity and grants for nonprofits and other groups that work with Black and Latino households on affordability issues. Continue reading →

Construction startup Katerra files for bankruptcy

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The company blamed its financial position on the effects of the COVID-19 pandemic, difficulty securing funding for new construction and “unsuccessful attempts to secure additional capital and business.” Continue reading →

Nation’s largest thrift acquires top 20 mortgage lender

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Flagstar Bancorp Inc., a top 20 mortgage lender that does business nationwide, is merging with the nation’s largest thrift, New York Community Bancorp Inc., in a $2.6 billion deal will give the combined company nearly 400 branches in nine states. Continue reading →

Median home-sale price reaches all-time high of $335,613

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Although the market is currently red-hot, Redfin’s latest report released on Friday revealed that homebuyers may give up as home prices continue to grow. Continue reading →

Freddie Mac names Mark Grier interim CEO

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The Prudential Financial vet served on Freddie Mac’s board of directors for about one year before being named the company’s interim chief executive officer. Continue reading →