Mortgages

Contract closings of existing homes last month increased 2.2% to an annualized rate of 4.24 million, the most since February, according to National Association of Realtors data released Friday.

The agreement would resolve claims for a class of 298,000 members, who allegedly received over 700,000 calls from Coldwell Banker agents between 2015 and 2020.

Newfi initially established its partnership with residential transition loan provider Dunmor in June 2024 to help it open up funding capacity and establish its presence in the lending segment.

With the growth in the use of government products, further increases in late payment rates over the coming year are likely, ICE Mortgage Technology said.

As forbearance starts to rise due to the fires, servicers that have just gotten a respite from hurricanes recoveries will have to gear up again.

The 30-year fixed rate mortgage fell back under 7% this week, the Freddie Mac survey found. But Treasury yields started rising again in recent days.

it's important to look at the process involved in shopping for closing costs, the limits to lowering them and whether do so is always advisable

Twenty-year mortgage terms and lower debt-to-income ratio would more responsibly support increased homeownership than many Biden-era initiatives says the co-director of the American Enterprise Institute's Housing Center.

Higher mortgage rates will persist through 2026, affecting sales and refinancings. Those expectations led Fannie Mae to cut its volume outlook for the next two years.

Fewer consumers applied for government-backed loans last week, with average interest rates for Federal Housing Administration loans stuck in the high 6% range.