Rates for mortgages backed by Fannie and Freddie continue to ease despite Federal Reserve Chairman Jerome Powell’s tough talk on inflation, but liquidity issues put pressure on bigger loans. Continue reading
In her first interview since the resolution of the debt ceiling crisis, Treasury Secretary Janet Yellen said that while she expects “some pain” and even consolidation, banks will weather the storm. Continue reading
Shares in regional banks PacWest Bancorp and Western Alliance Bancorp tumble, and TD Bank Group and First Horizon announce they’re calling off their merger. Continue reading
Stock market declines and recession concerns stopped the luxury market in its tracks in Q3, with home sales in the top percentile of the market declining 38 percent year over year, according to Redfin. Continue reading
Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers. Continue reading
Luxury deals are down 18 percent year over year, and buyers are more cautious than they’ve been in years, a sign the market is continuing to normalize, according to agents and a new Redfin report. Continue reading
Mortgage lenders tightened underwriting standards in June, undoing much of the easing seen over the last six months as initial fears about the long-term impacts of the pandemic began to wane. Continue reading
Last week’s dip in mortgage rates boosted applications for purchase loans and revived interest in refinancing, according to a weekly survey of lenders by the Mortgage Bankers Association. Continue reading
Sprout Mortgage, which bills itself as a leading provider of nonconforming loans, says it’s giving mortgage brokers more control over how lender fees are presented to consumers in the loan estimate. Continue reading
Climbing mortgage rates have slowed demand for refinance applications, while purchase applications remain strong moving into the spring season, according to the Mortgage Bankers Association. Continue reading