Newrez has launched a new joint venture mortgage company, Carnegie Mortgage Partners, in collaboration with a top Keller Williams franchise network in Bergen County, New Jersey, the lender announced on Monday. The... Read more »
In September, the nation’s banking regulators released a proposal to increase the capital required of banks with more than $100 billion in assets. The effort was intended to decrease systemic risk, but... Read more »
Stubbornly elevated mortgage rates created more affordability pressures for homebuyers in October, according to ICE Mortgage Technology’s November Mortgage Monitor report. In October, the monthly payment needed to purchase a median-priced home... Read more »
Patricia “Patti” Cook, who broke the glass ceiling in the mortgage industry during a successful 45-year career, died on Friday at her home in New York. She was 70 years old. Cook... Read more »
Mortgage rates and the 10-year yield The 10-year yield has had a wild ride this week, especially during overnight trading. The 10-year yield hit a high of 4.93% after hours on Halloween,... Read more »
The jobs report today which should move mortgage rates lower, demonstrates why it’s time for the Federal Reserve to land the plane. The labor market doesn’t show wages spiraling out of control... Read more »
Intercontinental Exchange (ICE) Mortgage Technology reported an adjusted operating income of $131 million in the third quarter of 2023, up from Q3 2022’s $126 million — despite the headwinds the mortgage industry... Read more »
Mortgage rates stabilized this week as the Federal Reserve decided to keep its rates unchanged Wednesday. However, mortgage rates still remain at a 23-year high. The 30-year fixed-rate mortgage averaged 7.76% as of... Read more »
The coming winter is expected to be an existential test of survival for many independent mortgage banks (IMBs), according to leaders of several mortgage advisory firms. It’s expected to be dark, difficult... Read more »
Mortgage applications fell for the third week in a row as mortgage rates surged toward 8%. For the week ending Oct. 27, total home loan applications fell 2.1% compared to the week... Read more »