Wednesday was far less eventful than the first two days of the week as far as mortgage rates were concerned. The average lender raised rates just a hair, but apart from yesterday, these are the lowest levels in a month and very close to the lowest levels in more than 3 years. Bond markets and […]
Mortgage Rates Slightly Higher, But Remain Near Long-Term Lows Read More »
Mortgage rates inched down this week, and they are likely to remain stable throughout the rest of the year. After three consecutive weeks of upticks, the 30-year fixed mortgage rate dropped 0.3 basis points to 6.23% from last week when it averaged 6.26%. The 30-year rate averaged 6.81% this week a year ago. The 15-year
Mortgage rates tick down for first time this month Read More »
While gain on sale margins for mortgage lenders were at least stable, if not improved, in the third quarter compared to prior periods, that did not necessarily translate to improved profitability, separate reports from Morningstar DBRS and Boston Consulting Group revealed. The Morningstar report looked only at independent mortgage bankers, and the group it pulled
IMBs gain on sale is up, profitability isn’t Read More »
Key Insight: Even though ethics violations among Fed officials are uncommon, high-profile cases like that of former Fed Gov. Adriana Kugler highlights persistent questions about oversight effectiveness. Expert Quote: “When you’re in a position that’s as influential as working at the Federal Reserve, you’re governed by the law of Caesar’s wife — be above suspicion.”
Does the Fed have an ethics problem? Read More »
The Federal Housing Administration once helped finance thousands of loans for manufactured housing. An effort to restart that program would help millions of Americans afford their own homes, writes Scott Susin, of the Center for Mortgage Access.Kybele – stock.adobe.com The Federal Housing Administration, or FHA, was once a major player in lending for manufactured homes
Reviving this one FHA program could greatly boost homeownership Read More »
House Democrats sent a letter Tuesday to the U.S. Department of Housing and Urban Development Secretary Scott Turner, asking him to rescind a recent decision that would slash funding for affordable housing programs. HUD’s Notice for Funding Opportunity for the Fiscal Year 2025 Continuum of Care Program, issued on Nov. 13, would cut support for
House Democrats urge HUD to reverse housing funds cut Read More »
US mortgage applications to buy a home surged last week to the highest level since early 2023, despite still-elevated borrowing costs. The Mortgage Bankers Association’s index of home-purchase applications jumped 7.6% to 181.6 in the week ended Nov. 21, data from the group showed Wednesday. The contract rate on a 30-year fixed mortgage rate ticked
Purchase applications surge to highest level since 2023 Read More »
Mortgage rates moved nicely lower on Tuesday with the average lender very close to the 2025 lows seen in late October. These levels are effectively right in line with the lowest since late 2022. If today’s drop seems abrupt, that’s because it is. In fact, it’s a bigger drop than the underlying bond market justifies.
Lowest Mortgage Rates Since 10/28 And Very Close to 3-Year Lows Read More »
Cassandra Seier, head of International Capital Markets for the New York Stock Exchange, died over the weekend of November 22. “We are devastated by the news that our colleague Cassanda Seier passed away over the weekend,” an NYSE spokesperson told American Banker in a statement. The statement did not disclose the exact date or cause
NYSE executive Cassandra Seier dies in alleged bike accident Read More »
Representative Eric Swalwell, a California Democrat who has been a frequent critic of Donald Trump, filed a lawsuit on Tuesday claiming Federal Housing Finance Agency Director Bill Pulte abused his power to retaliate against one of the president’s political opponents. Swalwell alleges Pulte obtained and used the lawmaker’s personal mortgage records in violation of US privacy laws
Swalwell claims Pulte abused power to target Trump critics Read More »