WASHINGTON — Barney Frank, the former longtime Democratic congressman from Massachusetts who helped usher in the most consequential financial reform since the Great Depression, has died. He was 86. Processing Content Frank’s legendary career on Capitol Hill, representing large parts of the Boston suburbs for 32 years before retiring in 2012, was capped by his […]
Financial reformer and lawmaker Barney Frank dies at 86 Read More »
US mortgage rates increased last week to an almost two-month high, weighing on home purchase activity. Processing Content The contract rate on a 30-year mortgage rose 10 basis points to 6.56% in the week ended May 15, according to Mortgage Bankers Association data released Wednesday, just shy of the 6.57% reading at the end of
Mortgage rates rose last week to an almost two-month high Read More »
You may have seen the headlines lately about mortgage debt in America hitting a record high. And maybe your brother-in-law brought it up at the dinner table like he’s been waiting all week to spark a debate. Here’s the thing. He’s not wrong. But he only has half the story. And the half he’s missing?
Record High Mortgage Debt Sounds Scary. Here’s What the Headlines Leave Out. Read More »
Key insight: The full House is expected to vote tomorrow on updated housing bill text that softens a ban on institutional investors owning some homes, removing a requirement that build-to-rent investors sell those properties within seven years. What’s at stake: The House version also includes community bank provisions that would ease rules around brokered and
House will vote Wednesday on newest version of housing bill Read More »
It was another rough day for the bond market and, thus, for interest rates. Investors aggressively sold bonds in the first 2 hours of trading, taking 10yr Treasury yields to the highest level in more than a year. Mortgage-specific bonds have been doing better versus Treasuries in recent months thanks to increased purchase demand from
Mortgage Rates Jump Again, Now up 0.75% Since Start of The War Read More »
It’s been a volatile spring when it comes to mortgage demand for new homes. Processing Content Applications for loans on newly built homes in April fell on both a monthly and annual basis, the Mortgage Bankers Association reported Tuesday. Lingering economic uncertainty and higher rates reversed a large uptick in such demand in March, and
Mortgage demand for new homes dives in latest swing Read More »
Rocket Cos. is encouraging homebuyers and sellers to use its mortgage lending subsidiary and recently-acquired Redfin with the launch of a new offering. Processing Content Eligible buyers and sellers can save up to $20,000 on their next home when they buy and sell with a Redfin agent and finance with Rocket Mortgage, the companies announced
Rocket, Redfin roll out buyer incentives and new products Read More »
From left: Michael Lau, Bayview Asset Management; Michael Patterson, Freedom Mortgage; and Jay Plum, Fifth Third Bank Inflation is creating lending hurdles related to consumer spending and rates this year, as could another move the Fed’s eyeing; but lenders will have some coping mechanisms, industry leaders said Tuesday. Processing Content One thing to watch out
How top mortgage execs are contending with 2026’s challenges Read More »
The Two Harbors acquisition saga will continue for at least one more week, after the company adjourned a shareholder meeting Tuesday. Processing Content The servicer said it postponed its special meeting to provide additional time for Two Harbors to solicit additional proxies, and for shareholders to vote in favor of the CrossCountry Mortgage bid. The
Two Harbors postpones CrossCountry acquisition vote Read More »
A lot of the debate regarding credit score modernization has focused on the actions of, and comparisons between FICO and VantageScore. Representatives of both were on a panel on the topic at the Mortgage Bankers Association’s Secondary and Capital Markets Conference in New York. Processing Content But the session also featured two lenders in the
Lenders look at operational changes in credit score update Read More »