CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The... Read more »
The mortgage landscape in the United States is experiencing a significant shift as the contract rate on a 30-year fixed mortgage recently hit a four-month low, standing at 7.17% in the week... Read more »
Interest rates are a key factor that affects the housing market, as they influence the cost and availability of mortgages for homebuyers and sellers. Interest rates have been rising in 2022 and... Read more »
If you are planning to buy a home or refinance your existing mortgage in the next decade, you might be wondering what will happen to the mortgage interest rates in the future.... 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 »
Michigan-based United Wholesale Mortgage (UWM) wants to court more brokers by offering no-cost appraisals on 1-0 temporary rate buydowns amid fierce competition in the industry. The wholesale lender will cover up to... Read more »
Affordability headwinds continued in the mortgage industry with mortgage rate lock volume remaining virtually flat in October. Both purchase and refinance volumes continued to wane in the face of the highest mortgage... Read more »
In a significant turn of events, the 30-year mortgage rate in the United States has experienced its most substantial drop in nearly 16 months. This surprising development comes on the heels of... Read more »
Smart Rate Mortgage, LLC is no longer licensed as a residential mortgage company in Illinois. Meanwhile, Michael Strauss, its only loan officer, now has an inactive status on his license, according to the Illinois Department of... Read more »
Federal Reserve Chair Jerome Powell left the door open to a future interest rate hike on Wednesday, but most housing professionals are hopeful that the Fed may be done hiking interest rates... Read more »