Mortgage lenders are more likely to turn down homebuyers of color than white applicants with similar attributes, and algorithms are likely to blame, according to in-depth analysis by The Markup, a nonprofit newsroom that’s “watching big tech.” Continue reading
Low mortgage rates that had risen off a strong jobs report remained unmoved earlier this week, according to Freddie Mac’s lender survey. Continue reading
The Federal Housing Finance Agency wants at least 35 percent of the purchase mortgages backed by Fannie and Freddie to be taken out by low- and very low-income borrowers, up from 30 percent today. Continue reading
Fannie and Freddie will use new price-based qualified mortgage rule for loans with settlement dates after Aug. 31. Continue reading
During the pandemic, the Federal Reserve has been keeping a lid on interest rates by increasing its holdings of long-term Treasurys and mortgage-backed securities (MBS) by $120 billion a month. Before announcing a timetable for tapering those purchases… Continue reading
Would-be homebuyers with thin credit files will have a better chance of getting approved for a mortgage if they’ve been paying their rent consistently, thanks to changes to Fannie Mae’s automated underwriting system taking effect next month. Continue reading
Interest rates on 30-year mortgages fell further as bond markets reacted to the delta variant’s potential impact on the global economy. Continue reading
Both companies benefited from rising home prices, and a resurgence in refinancings prompted by falling mortgage rates, which have come down from 2021 peaks seen in March. Continue reading
Forbearance programs that allowed homeowners with government-backed mortgages to put their monthly payments on hold during the pandemic will come to an abrupt end in the months ahead, straining the capacity of loan servicers tasked with helping borrowe… Continue reading
Mortgage rates held steady near month’s end, with interest rates on 15-year fixed rate loans remaining at all-time lows, according to Freddie Mac’s weekly lender survey. Continue reading