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
Following Rocket’s lead, UWM and Guaranteed Rate say they’ll price mortgages of up to $750,000 as if they’re eligible for purchase by Fannie Mae and Freddie Mac in anticipation of expected 2024 increases. Continue reading
Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades. Continue reading
A decrease in applications for FHA loans popular with first-time homebuyers helped push the average purchase loan application to $432,700, according to the latest MBA lender survey. Continue reading
A homebuyer taking out a $300,000 loan could end up overpaying by $1,200 a year — and even more if they’re in the market for a jumbo, FHA or VA mortgage, according to a new CFPB analysis. Continue reading