The headlines about potential declines in mortgage rates has consumers more inclined to become home buyers, but views on selling took a hit last month, Fannie Mae reported. Its Home Purchase Sentiment Index for August was 71.4, a 0.4 point decline from July. The only months in the past 12 which the index was lower […]
Buyers gain hope on rates, sellers turn cautious Read More »
Black homeowners, who already face long-term disadvantages in the housing market, are losing more ground. The Black homeownership rate fell this summer to its lowest rate since late 2021, according to Redfin. The brokerage, now a Rocket Cos. affiliate, cited annual unemployment figures, which are higher for both Black men and women than other ethnic
Black homeowners lose ground as job losses mount Read More »
As the trigger leads bill becomes a reality, lenders are considering whether its impact on the mortgage industry goes beyond simply cutting down consumer calls and texts. The restrictions regarding credit reports won’t go into effect until six months after Trump’s signature Friday. While the Homebuyers Privacy Protection Act should undercut the leads and messages
How a trigger leads crackdown could lift retention rates Read More »
Pres. Trump has signed into law H.R. 2808, the Homebuyer Privacy Protection Act, one month after the bill cleared the U.S. Senate by unanimous consent. The new law, which takes effect 180 days after enactment, has been welcomed by the mortgage industry for putting an end to the sale of trigger leads — consumer data
Pres. Trump signs mortgage trigger leads ban into law Read More »
Mortgage rates reached another 11-month low this past week, as markets are pricing in an expected short-term rate cut from the Federal Open Market Committee later this month. This follows a week where one long-term Treasury rate showed serious volatility. The 30-year Treasury bond posted a yield just shy of 5% during trading on Sept.
Mortgage rates sink with FOMC cuts on the horizon Read More »
These days, it’s harder than ever to break through to customers. While a company like Rocket can spend more than $800 million on stadium names and Super Bowl ads, smaller lenders have to be more creative to get noticed. From sports sponsorships and social media to blogs and buyer nights, here are some of the
How small mortgage lenders stretch marketing dollars Read More »
In July, Fairway Independent Mortgage refreshed its branding, including revising its name to Fairway Home Mortgage. The company was started as a mortgage broker by its CEO Steve Jacobson in 1996. It grew by adding regional branches throughout the country. Fairway has been very successful in retaining staff long-term. David Lazowski, who in 2024 became
Fairway rebrands with focus on end-to-end lending Read More »
Wholesale lender AD Mortgage has launched a borrower-facing portal in order to improve the experience of their broker’s clients, the company said. AD Home gives consumers “a smoother, faster and more intuitive way to manage their loans,” the company’s announcement said. AD is known as a non-qualified mortgage lender, but it also offers conventional and
Wholesaler AD Mortgage launches borrower portal Read More »
Not long ago, a storefront sign was the most important marketing channel a retailer had. If you didn’t have one, customers didn’t know you existed. Today, for mortgage companies, that sign has been replaced by something else entirely: search. But with borrowers now turning to ChatGPT and other AI tools instead of Google, even ranking
Why AI search could cut off your leads Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors. Federal Reserve Board chairman Jerome Powell’s apparent pivot, widely seen as telegraphing a short-term rate cut in September, helped drive mortgage rates. However, the decline on the 30-year fixed rate mortgage was a mere 2 basis points, to 6.56% as of Aug.
Mortgage rates hit 10-month low as Powell hints at Fed cut Read More »