February’s low mortgage rates, when the 30-year fixed fell below the 6% mark, helped to improve homebuyer’s ability to afford the payments on their purchase, the Mortgage Bankers Association found. Processing Content During the month, lenders were offering loans priced under 6%, with the industry average at 5.98% for the week of Feb. 26, according […]
Lenders: Chase affordability gains before rates climb further Read More »
Two influential groups in the home finance space have teamed up to provide information standards that will streamline title and mortgage closing processes. Processing Content The Mortgage Industry Standards Maintenance Organization and American Land Title Association announced the publication of two new datasets, both of which should form a digital convention for documentation to benefit
MISMO, ALTA issue new title, settlement document guidelines Read More »
Buyers have significantly more negotiating power than sellers in the housing market today, resulting in a record amount of home-sale cancellations, a new industry report found. Processing Content More than 42,000, or 13.7%, of home-sale agreements in the United States fell through last month, according to a Redfin report. That’s the highest February share in
Home sales cancelled at record rate as buyers hold power Read More »
Senator Josh Hawley, a Republican from Missouri, during a hearing on Wednesday, April 17, 2024. Photographer: Graeme Sloan/BloombergGraeme Sloan/Bloomberg A Republican senator launched a new investigation into the leading provider of mortgage borrower credit scores, reiterating prior criticism of a “monopoly” he says proves detrimental to aspiring home buyers. Processing Content Alongside his own investigation
Senator calls for FTC investigation into FICO score pricing Read More »
Despite mortgage rates reaching nearly 4-year lows last month, the gap between sellers and buyers in the housing market grew to its largest size on record. Processing Content There were an estimated 630,000, or 46.3%, more home sellers than buyers in the United States in February, according to a new Redfin report. That is the
Sellers outnumber buyers by record margin in February Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors.Want unlimited access to top ideas and insights? Subscribe Now Last week, Federal Housing Finance Agency Director Bill Pulte announced that the GSEs were rolling back roof insurance requirements for condo buildings to allow them to purchase actual cash value (ACV) policies instead
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While the 30-year fixed-rate mortgage recently dipped below 6%, adjustable-rate mortgages are offering homebuyers their biggest discount in nearly four years. Processing Content The average homebuyer would save $150 per month by using an ARM instead of a 30-year fixed-rate mortgage, according to a new report from Redfin that analyzed 30-year rates compared with 7/6
ARMs offer buyers largest discount in nearly 4 years Read More »
Affordability pressures continue to reshape purchase demand, particularly in coastal and climate-exposed markets. Borrower hesitation in high-cost regions no longer stems from rate volatility alone, as insurance premiums, property taxes, and total cost-of-ownership calculations now drive measurable pauses in decision-making. Processing Content Lenders operating in high-cost metros report longer decision cycles, increased prequalification fallout, and
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While the mortgage industry is watching how the situation between UWM Holdings and an unnamed buyer for Two Harbors will work out, another large lender is diving headlong into a merger. Processing Content CrossCountry Mortgage, the Cleveland-based lender that says it’s been No. 1 in retail three years running, has agreed to buy another privately
CrossCountry adding top 35 lender Summit Funding Read More »
Yields on the 10-year Treasury, after a brief dip at the start of the week, returned to the upper 4.2% range, even briefly breaking 4.3%, in reaction to inflationary pressures from the Iran conflict. Processing Content In turn, this led mortgage rates to increase by 11 basis points for the second consecutive week, the Freddie
Inflation drives mortgage rates to 2026 high point Read More »