The Free Market Mortgage Act of 2023 is a contentious piece of legislation aimed at deregulating the mortgage industry and fostering greater competition among lenders. Proponents believe it will lead to decreased... Read more »
Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29%... Read more »
Mortgage applications rose to their highest level in six weeks after the 30-year fixed mortgage rate fell to 7.44% last week. Total home loan applications increased 3% for the week ending Nov.... Read more »
California-based retail lender American Pacific Mortgage (APM) has named vice chairman Bill Lowman as its chairman of the board, succeeding APM founder Kurt Reisig. Lowman will continue his daily work as an... Read more »
Purchase application data Last year, when mortgage rates fell from 7.37% to 5.99%, we got three good months of positive purchase application data until the first week of February before mortgage rates... Read more »
CBC Mortgage Agency — a federally chartered housing finance agency — is reducing interest rates on repayable second mortgages used for its down payment assistance (DPA) program. This marks the first time... Read more »
Mortgage demand for new homes jumped in October as the inventory for existing homes remained depleted. Mortgage applications for new-home purchases rose 39.7% in October on a year-over-year basis and were up... Read more »
The mortgage market is witnessing a significant shift as rates continue their descent for the third straight week, according to data released by Freddie Mac. The average rate on the benchmark 30-year... Read more »
Mortgage rates fell this week as the October inflation report drove down the yield on the 10-year Treasury. On Thursday, investors priced in a 99.7% chance that the Fed will hold interest... Read more »
Homebuyers are forking over larger down payments to offset higher borrowing costs thanks to mortgage rates hitting multi-decade highs. On average, homebuyers put down 14.7% of the home’s purchase price for a... Read more »