Demand for purchase mortgages fell for a fourth consecutive week last week as rates continued to climb and inventories of homes for sale remained scarce, an MBA lender survey showed. Continue reading
United Wholesale Mortgage, the nation’s largest lender, also raised refinancing volume by 23 percent after being hammered by higher interest rates, according to Q2 earnings released Wednesday. Continue reading
At $4.55 billion, loanDepot’s Q2 purchase loan originations were up 30 percent from the first quarter, but down 52 percent from a year ago. Continue reading
“Significant progress” in Federal Trade Commission negotiations have been reported since Black Knight’s Empower loan origination system and Optimal Blue division were cut from the deal. Continue reading
The Detroit-based mortgage giant returned to profitability during the spring homebuying season by slashing costs and boosting its market share in the face of severe inventory shortages. Continue reading
A rising tide of economists are backing away from early forecasts that the U.S. is very likely to enter a recession later this year or by the first quarter of 2024. But some still see dark clouds ahead. Continue reading
Regional banks have largely weathered the crisis fueled by this year’s failures of Silicon Valley Bank, Signature Bank and First Republic Bank by pursuing mergers and boosting deposits through third-party brokers. Continue reading
Mortgage rates could come under more pressure as Fitch Ratings downgrades U.S. debt over concerns about rising deficits and ongoing debt ceiling showdowns. Continue reading
Mortgage giants Fannie Mae and Freddie Mac continued to grow their net worth as firm home prices and low default rates allowed them to release billions of dollars previously reserved for losses. Continue reading
The Fed has raised interest rates to fight inflation in the past. A new Intel analysis illuminates the data behind the “rate lock” of the early 1980s and how long it took home sales to eventually recover. Continue reading