Mortgage Demand Experiences Another Decline as Rates Surpass 7% Once More

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In: New Home Mortgage News

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The popular 30-year fixed mortgage soared past 7% yesterday, marking its highest level since the start of March, as reported by Mortgage News Daily. Investors are grappling with mounting worries that have led to rising rates.  Firstly, the Federal Reserve’sContinue Reading

Rocket Mortgage Groundbreaking ONE+ Program Offers a Remarkable 1% Down Payment Scheme

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In: New Home Mortgage News

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Rocket Mortgage, a retail home lender, has unveiled its newest offering called ONE+.  This innovative program enables homebuyers to contribute a mere 1% down payment towards the purchase price of a property, while Rocket Mortgage graciously covers the remaining 2%Continue Reading

Digital Pay Stubs Utilized by Freddie Mac in Updated Income Assessment Tool

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In: New Home Mortgage News

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Monday saw the announcement from Freddie Mac that its automated income assessment tool has undergone an update, now incorporating a borrower’s digital pay-stub data. Freddie Mac stated that by integrating pay-stub data, their innovative tool enables lenders to evaluate theContinue Reading

After Falling For Two Weeks Mortgage Rates Resume Their Climb

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In: Mortgage News

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This month marked the first time when mortgage rates in the US experienced an upward trend. Freddie Mac’s latest statement highlights the steady growth in the average rate for a 30-year, fixed loan, standing at a competitive 6.39% this weekContinue Reading

April sees double-digit decline in foreclosure rates

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In: Refinance News

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US foreclosure activity experiences a promising 10% month-over-month decrease in April, as reported by ATTOM. The impressive decline resulted in a significant reduction to just 32,977 properties with foreclosure filings (including default notices, scheduled auctions, or bank repossessions) during theContinue Reading

US Debt Default Could Lead to a Staggering 22% Surge in Home-buying Costs

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In: New Home Mortgage News

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By taking prompt and decisive action, the U.S. government can avoid the potential risk of defaulting on its debt, which is projected to occur as early as June 1. Interventions are being considered to prevent this situation, ensuring stability inContinue Reading

Unlocking the intricate dance between job gains and mortgages

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In: Mortgage News

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Life can be quite unpredictable, as the saying goes, “One day you’re up, and the next day you’re down.” This rings particularly true in the world of finance and economics.  Take, for example, the recent events in the US economy.Continue Reading

The Mortgage Servicing Company PHH Mortgage has Entered into a Sub-servicing Agreement with Finance of America Reverse

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In: Mortgage News

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PHH Mortgage Corp. is a subsidiary of Ocwen Financial Corp., which is a non-bank mortgage servicer and originator.  Has recently announced that it has signed a reverse mortgage sub-servicing agreement with Finance of America Reverse LLC. The deal is viewedContinue Reading

Despite higher mortgage rates, demand for home loans has increased

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In: Mortgage News

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Last week, despite the increase in mortgage rates, the demand for home loans surged. According to a report by the Mortgage Bankers Association (MBA), the Market Composite Index rose by 3.7% on a seasonally adjusted basis, with conventional and governmentContinue Reading

High Rates Squeeze Buyers as US Home-Price Gains Cool

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In: New Home Mortgage News

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Annual growth in US home prices slowed in February as buyers were squeezed by higher borrowing costs. According to S&P CoreLogic Case-Shiller data, home prices rose 2 percent nationally in February, a slower pace than January’s 3.7 percent gain.  ManyContinue Reading