Realtor.com reports a sharp decline in purchase activity as higher rates erode borrowing power
Home contract signings fell 17% year over year in October, reaching their lowest level for the month on record, as higher mortgage rates continued to squeeze buyers out of the purchase market, according to Realtor.com's latest housing report.The annual decline was the steepe...
Jay Jones takes charge as Newrez prepares for a multiyear technology migration involving more than 4 million homeowners
Newrez has appointed former Rocket Mortgage executive Jay Jones as chief servicing officer, putting him in charge of an $879 billion servicing portfolio as the company prepares for a major overhaul of its technology infrastructure.Jones, who assumed the role Nov. 3, will ove...
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