Former Baltimore prosecutor Marilyn Mosby found guilty of 1 count of mortgage fraud
Former Baltimore City Attorney Marilyn Mosby was found guilty of one count of mortgage fraud after testifying that she unintentionally made false statements on loan applications to purchase two vacation homes in Florida. The Associated Press reported that after the jury deliberated for most of the day, a split verdict was announced Tuesday night, acquitting […]
Homeowners’ monthly mortgage payments dropped to lowest rate in years
Mortgage payments fell to an average of $2,361 by the end of 2023. (iStock) Good news for homebuyers and homeowners alike. Monthly mortgage payments have dropped to the lowest average interest rates in years. According to a recent Redfin report. The average mortgage payment is $2,361 as of December 31, 2023. This is a decrease […]
Mortgage rates continue to trend down, but affordability remains a pipe dream: Freddie Mac
Interest rates on 30-year mortgages have fallen again, but housing remains unaffordable in most areas. (iStock) Mortgage rates fell to 6.63% this week, according to Freddie Mac. Primary mortgage market research. The 30-year fixed rate mortgage rate last week was 6.69%, down 0.06 points. The 15-year mortgage rate also fell slightly from 5.96% last week […]
Mortgage rates dip slightly as demand remains stalled
Dana Peterson, chief economist at the Conference Board, said the leading indicators are great for the commodity economy when it comes to “making money.” Mortgage rates fell slightly this week, but this slight drop is of little consolation to potential home buyers and sellers as demand remains largely stagnant. Freddie Mac’s latest primary mortgage market […]
30-year mortgage rate stabilizes in 6.6% range, draws buyers back: Freddie Mac
With mortgage rate volatility subdued, buyers are finding a reason to get back into the housing market. (iStock) Mortgage rates rose slightly this week, but have remained steady at 6.6% in recent weeks, giving borrowers an incentive to get back into the housing market, Freddie Mac said. The average interest rate on a 30-year fixed-rate […]
Mortgage rates climb, adding to affordability woes
Sam DeBianchi, real estate agent and president of DeBianchi Real Estate, advises millennials who are struggling to buy a home on how to make money. After falling slightly last week, mortgage rates have risen again and remain in the mid-6% range. Although interest rates have fallen by about 1 percentage point since October, home prices […]
Mortgage Applications Climb as Financial Conditions Loosen For 13th Straight Week
U.S. financial conditions continued to ease last week, even as Federal Reserve officials pushed back against the idea of cutting interest rates early and often this year. The Chicago Fed announced that its national fiscal condition index fell in the week ending January 19, marking the 13th straight week of declines. The index is now […]
Mortgage demand rises again even as interest rates increase
FOX Business Correspondent Madison Alworth explains how high mortgage rates and Barney & Co. home prices are delaying the American Dream for many first-time homebuyers. A key indicator of home purchase applications rose again last week, even as mortgage rates rose. Mortgage Bankers Association (MBA) Index Applying for a mortgage loan New data released on […]
Mortgage rates finally expected to dip below 6% in 2024, but affordability remains low
Mortgage rates are set to be cut this year, but affordability remains an issue. (iStock) Good news for 2024 homebuying candidates. Interest rates on 30-year mortgages are expected to fall below 6% by the end of the year. Fannie Mae Forecast Report. 2023 was one of the most volatile years in history for the housing […]
Cyberattack on Mortgage Giant LoanDepot Exposes Sensitive Data of 16.6 Million Customers
LoanDepot, a leading provider in the loan and mortgage industry, has reported a significant cybersecurity breach that affected approximately 16.6 million customers. tech crunch report LoanDepot, one of the largest U.S. loans and mortgage companies, recently disclosed in a federal regulatory filing that a cyberattack that occurred on January 8 compromised the sensitive personal information […]