Mortgage rates vary. Take the pandemic, for example. Interest rates were at an all-time low last year, which is why the housing market saw such a spike. Consumers took advantage of those low rates. Some purchased a new home and others refinanced their mortgage. According to Freddie Mac, borrowers saved
The Mortgage Bankers Association asked besieged New York Gov. Andrew Cuomo to veto a bill which would enact Community Reinvestment Act-like requirements for independent mortgage banks (IMBs) chartered in the state. If the bill were enacted, regulators would scrutinize applications submitted by mortgage bankers licensed in New York based on
Zillow CEO Rich Barton New quarter, same story. Zillow makes money through agents advertising on its website. It loses money via buying homes for cash and then reselling them. Add it up and the Seattle listings-and-iBuying giant on Wednesday reported $9.6 million in net income for the second quarter of
Rocket Companies, the parent company of America’s top mortgage lender and one of the industry’s biggest employers, will require all of its unvaccinated employees to have weekly COVID-19 tests. The company will also require all unvaccinated employees to wear masks in the office. The Detroit-headquartered firm said that the new
Oregon-based WFG National Title Insurance Co. has added two underwriters in Michigan, the company announced this week. Rachel Richardson and Tory Vincent will both serve as WFG’s Michigan state counsel and national agency counsel, said Alan Fields, WFG director of underwriting services. “It is difficult to find underwriters with the
Senate Republicans today grilled three of President Joe Biden’s nominees for positions at the U.S. Department of Housing and Urban Development over their past comments in support of defunding the police, while Democrats asked them how they would tackle housing affordability. Julia Gordon, Biden’s pick to head the Fair Housing
Big-four title company Fidelity National Financial released its second-quarter earnings this week, after Old Republic, First American, and Stewart Title announced their numbers in July. Fidelity reported $3.9 billion in total revenue for the second quarter, up from $2.4 billion year over year. That’s also up more than 50% from
The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%. According to Sam Khater, chief economist at Freddie Mac, concerns over the COVID-19
Instead of waiting for credit standards for agency-backed mortgages to relax, two industry veterans are launching a startup to help credit-impaired borrowers rise to meet them. Jeff Walker and Steve Romano founded CredEvolv, a startup that facilitates credit counseling in order to transform borrowers that were declined credit into mortgage-ready
Fewer than five million households failed to make their rent or mortgage payments in the second quarter of 2021, despite the effects of the COVID-19 pandemic still being felt across the country. According to the Mortgage Bankers Association’s Research Institute for Housing America (RIHA), 8.6% of renters (2.86 million households)
Glenn Stearns, founder and CEO at Kind Lending Residential real estate brokerage eXp continues to be profitable, and company CEO Glenn Sanford became a fan of Glenn Stearns through reality television. Those were two takeaways from the company’s second quarter earnings call on Wednesday, in which Sanford and other company
Trouble paying for firewood, heating oil or back property taxes for your home because of Covid-19? The Homeowners Assistance Fund (HAF) can help with that. In March, Congress allocated $10 billion in funds to prevent homeowners from falling behind on their mortgage, losing utility services, or being displaced. But the
Meridian Listing Agent Kevin Harper Says Idaho Real Estate Market Stronger Than Many Expected
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