Month: July 2022

Freddie Mac: In A Twist Of Fate, Mortgage Rates Drop

Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to loom. KEY TAKEAWAYS 15-year fixed-rate mortgages averaged 4.45% with an average 0.8 point, down from 4.83% last week. 14.9% of listings nationwide had their prices reduced last month, the highest rate since before …

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Sprout Mortgage Shuts Down

More than 300 employees laid off during a conference call this afternoon. Sprout Mortgage, which often billed itself as one of the nation’s fastest-growing lenders and largest non-QM originators, shut its doors today, according to former employees. The former employees, who asked not to be identified, said Sprout President Shea Pallante held a companywide phone …

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