Mortgage rates are climbing back toward 7 percent on fears that tariffs could reignite inflation, but Federal Reserve Chairman Jerome Powell warns policymakers would be challenged if unemployment also rises. Continue reading
Cutting the mortgage giants’ $806,500 conforming loan limit could relieve pressure on home prices but leave more homebuyers seeking jumbo mortgages at higher rates from private lenders. Continue reading
Getting out from under $1.95 trillion cap would allow the bank to grow its deposit base, providing more room on the balance sheet to originate jumbo mortgages too big for Fannie and Freddie. Continue reading
Mortgage giants will be allowed to back loans of up to $1.2 million in high-cost markets, providing ammo to critics who say goverment backing for mortgages adds to affordability woes. Continue reading
Demand for purchase mortgages fell by a seasonally adjusted 7 percent last week, and requests to refinance were down 26 percent as mortgage rates continued to climb, MBA survey finds. Continue reading
Rocket will treat loans of up to $802,650 as conforming ahead of expected increase. Last year UWM and Guaranteed Rate also got a jump on the official announcement. Continue reading
Applications for purchase mortgages dropped last week for the second week in a row as rising home prices continue to shut many would-be homebuyers out of the market. Continue reading
One issue for would-be homebuyers seeking jumbo mortgages is that rates haven’t come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie Mae and Freddie Mac. Continue reading
Rates have been in retreat as bond market investors who fund most mortgage loans react to the latest economic news and scaleback in tightening by Fed policymakers. Continue reading
Wall Street investors believe promises made by new leadership of New York Community Bancorp, but concerns about the impact of interest rates and commercial lending on regional banks remain. Continue reading