Articles Recently Tagged: Mortgages

(22 posts)

Bank Will No Longer Knowingly Finance Ellis Actors

Facing protests over their role in providing “displacement mortgages” to those who buy tenant-occupied buildings and then invoke the Ellis Act in order to flip the property or occupy it themselves sans tenants, First Republic Bank will now ask mortgage applicants if they intend to repurpose their target property... Read More »

Little Movement In 30-Year Mortgage Rate

Little Movement In 30-Year Mortgage Rate

The average rate for a conforming 30-year fixed-rate mortgage ticked up a nominal 2 basis points, from 4.10 percent to 4.12 percent, over the past week.  With little movement over the past three months, the 30-year rate remains near its 62-week low, having last dropped below 4.10 percent in June... Read More »

Benchmark Mortgage Rate Drops To Ten-Month Low

Benchmark Mortgage Rate Drops To Ten-Month Low

The average rate for a conforming 30-year fixed-rate mortgage has ticked down to 4.10 percent, the lowest rate since October of 2013 when it last dipped to 4.10 percent for a week. Averaging around 6.7 percent over the past twenty years, the 30-year rate hit  a three-year high of 4.58... Read More »

30-Year Mortgage Rate Drops To 2014 Low

The average rate for a conforming 30-year mortgage ticked down to 4.12 percent over the past week, matching the 2014 low last recorded in May and the lowest rate since October of 2013 when it dipped to 4.10 percent. Averaging around 6.7 percent over the past twenty years, the 30-year rate... Read More »

Millions Of Borrowers With Low FICO Scores About To Get A Boost

Millions of consumers with low FICO scores are about to get a boost and access to lower cost loans. Announcing a “a more nuanced way to assess consumer collection information,” the Fair Issac Corporation’s new model number nine for calculating a consumer’s FICO score will no longer include a... Read More »

Lending Standards Loosening, More Jumbo ARMs In The Market

The availability of mortgage credit is increasing, driven by a rise in the number of jumbo Adjustable Rate Mortgage programs in the market, according to the Mortgage Bankers Association’s latest Mortgage Credit Availability Index. In addition, minimum credit scores and maximum loan-to-value ratios for FHA and VA loans have... Read More »

Mortgage Rates Holding, Remain Lower Year-Over-Year

The average rate for a conforming 30-year mortgage ticked up to 4.15 percent over the past week and remains 43 basis points below the three-year high rate of 4.58 percent recorded this past August, 36 basis points lower than at the same time last year when rates spiked following comments from... Read More »

Mortgage Rates Tick Down, Now Lower Than Last Year

The average rate for a conforming 30-year mortgage ticked down to 4.14 percent over the past week, 44 basis points below the three-year high rate of 4.58 percent recorded this past August and 32 basis points lower than at the same time last year when rates spiked following comments... Read More »

Loan Application Volumes Drop While Inventories Continue To Rise

Mortgage loan application volume for home purchases across the country fell 6 percent over the past week and loan activity is running 15 percent lower on a year-over-year basis. At the same time, the inventory level of homes for sale across the country is running 14.2 percent higher, year-over-year,... Read More »

Mortgage Rates Tick Up For Second Week In A Row

The average rate for a conforming 30-year mortgage ticked back up to 4.20 percent over the past week and is within 38 basis points of the three-year high rate of 4.58 percent recorded this past August. Having averaged 6.67 percent since 1990, the average rate for a 30-year fixed... Read More »