January 7, 2025
The states with the cheapest 30-year new purchase mortgage rates Monday were New York, Florida, Texas, California, Georgia, Massachusetts, North Carolina, Pennsylvania, and Washington. The nine states registered averages between 6.72% and 6.96%. Meanwhile, the states with the highest averages… Continue Reading…
Marketing tactics Another big opportunity for the industry can come from refreshing its marketing efforts. Jonathan Scarpati, senior vice president of wholesale production at Finance of America, said that certain swings being made by industry can help, and FOA is… Continue Reading…
2024 was another tough year for the mortgage industry. Will 2025 be better? There are signs it could be. Originators can expect a busier year with increased purchase and refinance volume, according to forecasts. Yet, higher-than-expected interest rates and a… Continue Reading…
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.99% +0.04 FHA 30-Year Fixed 6.28% No change VA 30-Year Fixed 6.52% +0.04 20-Year Fixed 6.98% +0.07 15-Year Fixed 6.20% +0.06 FHA… Continue Reading…
Last week, the labor department reported a seasonally adjusted annual rate of 211,000 unemployment claims — a lower-than-expected figure which signaled that “the labor market isn’t breaking,” according to Mohtashami. “For mortgage rates to go lower, we need to focus… Continue Reading…
The conventional wisdom about private mortgage insurance (PMI) has long been that borrowers should try to avoid it. PMI is a requirement for conventional mortgage borrowers who put down less than 20 percent on a home — and it’s just… Continue Reading…
Breadcrumb Trail Links Finance Banking Real Estate Mortgages Top bank heads expect many mortgage holders to be able to renew at lower rates over the next two years Get the latest from Naimul Karim straight to your inbox Sign Up… Continue Reading…
Simone Del Rosario: I can see the Google search now … “Why are mortgage rates going up while the Federal Reserve is cutting rates?” Prospective home buyers who thought, “I’ll just wait until the Fed starts cutting its interest rate… Continue Reading…
COLUMBUS, Ohio, Jan. 7, 2025 /PRNewswire/ — Lower, a leading digital mortgage lender, today announced its acquisition of Neat Labs, a company renowned for its end-to-end mortgage origination software. Lower will integrate Neat Labs’ proprietary software into LowerOS, a comprehensive,… Continue Reading…
Two of the nation’s leading mortgage lenders are ready to end their long-running courtroom feuds. Crosscountry Mortgage and Loandepot have reached confidential settlements in principle in two separate poaching and theft of trade secrets lawsuits, according to court filings in… Continue Reading…