Mortage applications sag again as rates resume climb to 7%
A rate index published by Mortgage News Daily shows rates on 30-year fixed mortgages averaging 7.14 percent on Tuesday
by Matt Carter Oct 12
Coming soon to a Walmart near you: Mortgages, FHA loans and more
Lenders One Cooperative opens the alliance's first mortgage branch in a New Jersey Walmart, with more openings slated for Florida, California, Ohio, South Carolina and Texas
by Matt Carter Oct 11
Finance of America exiting wholesale, correspondent lending
The Irving, Texas-based lender is also reportedly in negotiations to sell its retail mortgage division, which employs about 1,000 loan originators nationwide
by Matt Carter Oct 7
Keller Mortgage implements third round of layoffs in past 12 months
Keller Williams’ lending arm is advertising seven positions online including openings for an area sales manager, an 'elite loan officer' and four local loan officers
by Matt Carter Oct 6
Mortgage applications hit 25-year low as rates, hurricane kill demand
After hitting 2022 highs last week, a weak hiring report released Tuesday by the Bureau of Labor Statistics has been helping to bring mortgage rates back down
by Matt Carter Oct 5
Rocket promotes from within, names new CFO and general counsel
Brian Brown and Tina John are tapped to fill openings created by the retirement of two top executives, Julie Booth and Angelo Vitale
by Matt Carter Oct 4
Moody's says odds of recession have risen to 'uncomfortably high' 59.5%
Investors who fund mortgages are demanding unusually high premiums in comparison to government bonds, out of fears the loans they make now could quickly be refinanced if rates drop
by Matt Carter Sep 27
Competition between top mortgage lenders for homebuyers heats up
Rocket Mortgage rolls out 'Inflation Buster' mortgage, which provides a lower rate for 1 year, as it battles rival United Wholesale Mortgage for homebuyer market share
by Matt Carter Sep 16
Mortgage lenders face heightened risk of income, property fraud
Risk of false W-2's, earnings statements and payroll checks up 27.3% during Q2 compared to a year ago, according to the latest CoreLogic Mortgage Fraud Report, released Monday
by Matt Carter Sep 13
Mortgage demand flattens as rates make another run toward 6%
No sign of a rebound in purchase applications, but August data showing a strong job market 'should support housing demand,' MBA economist says
by Matt Carter Sep 7
Mortgage company Homepoint laying off 'hundreds' of workers
The Michigan-based and third-largest wholesale mortgage lender aims to cut costs by more than $100M a year in response to an 'extremely challenging' lending environment
by Matt Carter Sep 2
Loan applications for home purchases continue 6-week slip
Purchase loan activity has dropped in 5 of the last 6 weeks as some buyers remain wary, according to the Mortgage Bankers Association
by Daniel Houston Aug 11
Will lower mortgage rates revive homebuyer demand?
The largest weekly decline in mortgage rates since 2020 sparks increase in home loan applications after 4 weeks of declining demand, MBA's survey says
by Matt Carter Aug 3
Rate Drop Advantage program offers homebuyers a break on refis
If rates come down in the next 3 years, Rocket Mortgage's program will cover some refinancing costs including first appraisal, credit report, tax certification, and mortgage recording fee
by Matt Carter Jul 27
Demand for mortgages hits lowest level since 2000
Decline in purchase applications aligns with slower homebuilding activity due to reduced buyer traffic and ongoing building material shortages, according to the Mortgage Bankers Association
by Matt Carter Jul 20