Volatile mortgage rates jumped back to the mid-5% level this week, slowing down the housing market, according to the latest survey from Freddie Mac. The 30-year fixed-rate mortgage increased 42 basis points this week to an average of 5.55%, up from last week’s 5.13%. A year ago this time, rates averaged

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How will President Biden’s executive action to erase $10,000 in federal student loan debt affect homeownership? While industry watchers don’t expect the debt forgiveness to move the needle in a significant way, it could have a net positive impact on homeownership long term. About 45% of borrowers, or almost 20

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For the past two years appraisal gap clauses have been de rigueur in many markets, much to the disdain of frustrated homebuyers. Mortgage startup Tomo feels, however, that it has a solution. On Wednesday, the firm launched Tomo Appraisal Coverage. Tomo says its appraisal coverage product protects home buyers from

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