mortgage

Mortgage Applications Off to Promising Start in New Year

Mortgage application activity gained ground for the second straight week, with significant increases across the board during the week ended January 13. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of loan application volume, increased 27.9 percent on a seasonally adjusted basis and was 32 percent higher on an unadjusted basis compared with …

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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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The Feds Job on Jobs

Home loan rates increased slightly from the previous week as we are just a couple of weeks before the next Fed meeting. Let’s walk through what happened and discuss what to look for in the week ahead. “As I will explain, this very tight labor market has implications for inflation and the Fed’s plans for …

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Recession Fears Emerge

This past week, home loan rates improved slightly in response to growing fears of a recession. Let’s walk through what happened and discuss what to look for in the week ahead. “What we need to see is inflation coming down in a clear and convincing way, and we’re going to keep pushing until we see …

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