After a month of consecutive drops, mortgage rates ticked back up this week, following the 10-year Treasury. The 30-year fixed-rate mortgage averaged 6.22%, up five basis points from last week’s mild drop of two basis points to 6.17%. according to Freddie Mac’s Primary Mortgage Market survey. The 30-year rate was 6.79% a year ago. “On […]
Mortgage rates bounce back up after month of drops Read More »
UWM Holdings had its strongest production quarter since the pandemic-fueled 2021, beating its own guidance, taking advantage of a brief window where rates fell in September. “Although I don’t know if you guys recognize it, but it was a dominant, dominant quarter,” Mat Ishbia, chairman, CEO and president said on the earnings call. The company
UWM posts best production quarter in four years Read More »
With the average mortgage rate near 6%, US homebuyers are looking at the most affordable monthly payments in a year. But San Antonio real estate agent Tavyn Weyman knows how to get them lower — much lower. The trick is simple: buy new. In markets across the US, homebuilders sitting on unsold inventory are subsidizing
Homebuilders bet on 1% mortgage rates to wake up U.S. buyers Read More »
Guild Mortgage reported higher profits and loan volume in the third quarter, likely marking its final earnings release as a public company before its merger with Bayview Asset Management. The company reported net income of $33.3 million in the third quarter, up significantly from a loss of $66.9 million during the same period a year
Guild’s profits and originations jump ahead of privatization Read More »
A new examination of which metropolitan statistical areas benefit the most and the least from government-sponsored enterprises shows that the largest concentrations of GSE-backed mortgages are typically found in regions within Northern states and the smallest in the lower half country, including the Southwest. Boulder, Colorado, commands the highest share at 67%, according to the
Where Fannie and Freddie loans flow most and least Read More »
Reverse mortgage company Finance of America’s continuing operations took a net loss on a one-time adjustment in the third quarter, but it was profitable on that basis for the year-to-date, unaudited interim results show. The company reported a $29 million in net loss from continuing operations during the third quarter due to home price model
Finance of America reports 3Q loss, nine-month profit Read More »
The median age of first-time homebuyers in the US has climbed to a record of 40 as soaring prices and mortgage rates over the last few years delay homeownership for millions of Americans. The age at which people purchase their first home has climbed rapidly since 2021, when the median was 33, according to a
US median first-time homebuyer age now at record-high of 40 Read More »
Rates have dipped enough to stir refinancing and home-equity borrowing, but not enough to ease the strain on stretched homeowners. New industry data shows mortgage originations rising in the second quarter and home equity lending climbing for a fifth straight quarter, even as third-quarter delinquencies edged higher, signaling growing stress for some borrowers. Originations climbed
Refis revive mortgage market, but trouble’s brewing Read More »
National direct-to-consumer lender Sage Home Loans is entering into a partnership with leading retail securities trading fintech Robinhood to provide discounted mortgage options to the latter platform’s select users. Through an exclusive agreement, Robinhood’s gold-tier subscribers will be able to apply for mortgage loans through the digital platform’s app or website and take advantage of
Robinhood, Sage Home Loans enter lending partnership Read More »
In the time since Vic Lombardo became president of mortgage services at Remax Holdings over two months ago, the company has “taken a new view of the mortgage opportunity,” Eric Carlson, CEO, said in the third quarter earnings call. Among the units under Lombardo’s purview are Motto Mortgage, which offers mortgage broker franchises, and Wemlo,
Remax resets mortgage strategy under new division leader Read More »