With the COVID-19 pandemic still raging across the U.S., the mortgage industry is still seeing mortgage rates flirt with all-time low numbers. Freddie Mac's Primary Mortgage Market Survey (PMMS) revealed that the 30-year fixed-rate mortgage is averaging 3.31%.
"Mortgage rates continue to hover near all-time lows for the third straight week. As a result, refinance activity remains high, but home purchase demand is weak due to economic tightening,” said Sam Khater, Freddie Mac’s Chief Economist. "While new monthly economic data are driving markets lower this week, they are a lagging indicator and should be priced in already. Real time daily economic activity metrics suggest that the economy will likely not decline much further. Going forward, the key question is no longer the depth of the economic contraction, but the duration."
Zillow reports the steepest annual drop in newly pending home listings since 2023, adding pressure to an already weakening purchase market
Home prices are barely rising, inventory is growing, and buyers have more negotiating power. Yet the cost of financing a home is moving in the opposite direction, leaving mortgage lenders facing an increasingly difficult purchase market.The typical monthly mortgage payment r...
Read brings more than 20 years of experience in lending operations, risk management, and regulatory compliance to the education provider
MaxClass has appointed Carrie Read as director of compliance, bringing more than two decades of mortgage industry experience to the company's education and consulting operations.Read most recently served as senior vice president of compliance, risk, and operations at Lenderw...
Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December
The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels
September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions
The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders
Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028