Mortgages

Some large mortgage companies reportedly have high retention rates, but the industry average is a different story, according to Mortgage Bankers Association data.

Across the nation, over 700,000 Black families are "income mortgage-ready," or able to spend 30% or less of their income on a home loan for the typical house in their local market.

Property lenders have often been willing to work with borrowers since the pandemic upended commercial real estate. Increasingly, their patience is running out. 

The megalender and servicer Rocket reported annual origination volume in 2023 of $78.7 billion, a 40% decline from 2022.

The Mortgage Bankers Association's preliminary first half 2023 analysis shows the highest jump since the 2000s housing boom. Here's what might happen next.

The 30-year average rate got closer to 7% as central bank officials dashed near-term hopes of a cut, according to Freddie Mac.

Sales of previously owned U.S. homes rose in January by the most in nearly a year as buyers took advantage of lower mortgage rates at the start of 2024.

The top 3 cities have an average median listing price of $217,967.

Since mid-January, "we have seen a meaningful uptick in demand that has continued through this past weekend," Toll Brothers Chief Executive Officer Doug Yearley said in an earnings call Wednesday. 

The Federal Housing Administration's new foreclosure prevention strategy starts soon and a Department of Veterans Affairs option is getting final approvals.