Homebuyers are getting some relief in 2024 as mortgage rates recede from their 20-year high point of last October. A homebuyer with a $3,000 monthly budget has gained nearly $40,000 in purchasing power since October, according to a new Redfin report. Indeed, with a 6.7% mortgage rate, the prospective buyer with a $3,000 budget can […]
Most economists forecast mortgage rates to decline in 2024, stoking optimism about the housing market. According to the newest Bloomberg Markets Live Pulse Survey (MLIV Pulse), the rate on the 30-year fixed mortgage will fall to 5.5% by the end of this year. Most forecasts call for rates to bounce within the 6% to 7% […]
Despite looking a bit different at the end of 2023, there were a lot of similarities in the full-year Home Equity Conversion Mortgage (HECM)-backed securities (HMBS) issuance tables when compared to recent years. One thing that is much different compared to 2022, however, is total issuance. Here are the top 10 HMBS issuers in 2023 […]
Government sponsored enterprise Freddie Mac has approved mortgage technology company Truv for both payroll verifications and consumer-permissioned income. With the new integration, lenders will have
Compass’ chief operating officer Greg Hart will leave the brokerage at the end of the year, according to a document filed with the Securities and
The Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% at its last meeting of
Rocket Homes is looking to make your daily commute part of your home search experience. The company announced Tuesday that the Rocket Homes iOS app
Top U.S. mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the
As 2023 winds to a close, so too does a brutal year for the housing market, a year marked by rising rates, steep home prices,
The Mortgage Bankers Association (MBA) and the National Mortgage Servicing Association (NMSA) are expressing their views on a recently revised Federal Housing Administration (FHA) loss mitigation proposal, stating that it needs additional adjustments to effectively address the challenges it is designed to tackle. The proposed policy FHA in May submitted
Government sponsored enterprise Freddie Mac has approved mortgage technology company Truv for both payroll verifications and consumer-permissioned income. With the new integration, lenders will have access to the Truv platform to obtain and transmit information and data required on Freddie Mac’s Loan Product Advisor platform for the income modeling assessment
Compass’ chief operating officer Greg Hart will leave the brokerage at the end of the year, according to a document filed with the Securities and Exchange Commission on Tuesday. According to the filing, Hart’s position is being eliminated and Compass will not seek to fill the vacancy. As such, Hart
The Federal Open Markets Committee (FOMC) held its short-term policy interest rate steady at a range of 5.25% to 5.5% at its last meeting of the year on Wednesday. It was the fourth pause recorded in 2023. Federal Reserve Chairman Jerome Powell said that while inflation remains ‘elevated,’ the Fed
Rocket Homes is looking to make your daily commute part of your home search experience. The company announced Tuesday that the Rocket Homes iOS app is now available on the infotainment screen of a user’s car via Apple CarPlay. According to the release, homes listed for sale can be seen
Top U.S. mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. The initiative includes three new exclusive rates – 5.749% paying 1.5 points, 5.999% paying 2 points and 6.249% paying 2.5 points