Purchase mortgage rates drop, ending 2-week climb 

Purchase mortgage rates this week dropped 11 basis points to 5.70%, according to the latest Freddie Mac PMMS Index, ending a two-week climb following the Federal Reserve’s rate hike earlier this month. A year ago at this time, 30-year fixed rate purchase rates were at 2.98%. The PMMS, a government-sponsored

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CoreVest finalizes $313M securitization

Redwood Trust’s CoreVest division has closed a $313 million private-label offering backed by 82 loans that are in turn collateralized by some 1,800 properties located in 24 states and the District of Columbia. The transaction, CAFL 2022-1, represents CoreVest’s second securitization deal this year and its 21st to date. The

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