The Consumer Financial Protection Bureau (CFPB) has imposed a hefty fine of $12 million on Bank of America for misleading mortgage lending data reported to the federal government. The fine comes as... Read more »
In a surprising turn of events, housing prices have experienced a remarkable surge of 6.6% since January, defying the odds posed by escalating mortgage rates. This upward trajectory, highlighted by the S&P... Read more »
Lower mortgage rates have brought increased mortgage demand. Total home loan applications increased 0.3% for the week ending Nov. 24 compared to the previous week, according to data from the Mortgage Bankers... Read more »
In another odd twist for 2023, the ability to split up after a divorce seems to be another casualty of the high mortgage rate environment. Couples who may have locked in a... Read more »
Mortgage rates have pulled back in recent weeks giving consumers and loan originators some breathing room, but headwinds in the industry are far from over. The decline in the 10-year Treasury yield... Read more »
Purchase application data Now that mortgage rates have fallen from a bit over 8% toward 7.32%, we can see the immediate impact as purchase application data was positive for the third straight... Read more »
In the ever-evolving realm of real estate, one of the critical factors that homebuyers and homeowners closely monitor is mortgage rates. These rates play a pivotal role in shaping the financial landscape... Read more »
If you own a rental property in the United States, you may be wondering how your rental income is taxed, especially if you have a mortgage on the property. In this blog... Read more »
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 »