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
After two consecutive weeks of rising demand, applications for purchase mortgages dropped by a seasonally adjusted 1 percent last week compared to the week before, and 14 percent from a year ago. Continue reading
Applications for purchase loans plummeted by a seasonally adjusted 10 percent last week, according to a survey of lenders by the Mortgage Bankers Association. Continue reading
After picking up during the first three weeks of January, applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs. Continue reading