Weekly Mortgage Rate Report for Friday April 17, 2015

Mortgage rates this week have remained low, with the nation's top lenders both raising and lowering rates on loan programs all throughout the week. The US homebuilders said this week that they started the home-buying season in March at a slower pace than last year,... read more

Appeals Court of Massachusetts Finds in MERS’ Favor

(Source: MERS Corp.) Reston, Virginia — MERSCORP Holdings, Inc. today announced the Appeals Court of Massachusetts found in favor of Mortgage Electronic Registration System, Inc. (MERS) and upheld the validity of its assignment of a mortgage. In Hoyt v. BAC Home Loan... read more

Stockton Loan Officer Charged with Mortgage Fraud

(Source: FBI) SACRAMENTO, CA—A federal grand jury returned a six-count indictment Thursday against Mark F. Friend, 60, of Stockton, charging him with six counts of bank fraud relating to a mortgage fraud scheme, United States Attorney Benjamin B. Wagner announced.... read more

Current Mortgage Rates for Thursday April 16, 2015

Mortgage rates at the nation's top lenders for this Thursday are mostly stable and some lenders have brought rates down on select loan programs. According to the most recent rate report released today by Freddie Mac. fixed mortgage rates were essentially flat this... read more

NAHB: Housing Production Edges Up 2 Percent in March

(Source: NAHB) WASHINGTON - Nationwide housing starts rose 2 percent to a seasonally adjusted annual rate of 926,000 units in March from an upwardly revised February reading, according to newly released data from the U.S. Commerce Department. Single-family housing... read more

Current Mortgage Rates for Wednesday April 15, 2015

Current conforming mortgage and ARM loan rates from the nation's top lenders remain mostly stable for this Wednesday afternoon. The 30 year fixed mortgage national average is 3.66%, and the 15 year fixed average is 2.93%. The 5 year ARM is 2.83%, and the 1 year ARM is... read more

CFPB Issues Guidance on Housing Counselor Requirement

Final Interpretive Rule Includes Additional Instructions for Providing Housing Counselor Information (Source: CFPB) WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a final interpretive rule on how to provide mortgage applicants with a... read more

NY Fed: The Rescue of Fannie Mae and Freddie Mac

(Source: NY Federal Reserve) - We describe and evaluate the measures taken by the U.S. government to rescue Fannie Mae and Freddie Mac in September 2008. We begin by outlining the business model of these two firms and their role in the U.S. housing finance system. Our... read more

House Acts to Increase Access to Affordable Housing

(Source: Boehner) WASHINGTON, DC — House Speaker John Boehner (R-OH) today issued the following statement after the House passed two bills aimed at making it easier for Americans to obtain affordable housing and achieve financial independence: “These bipartisan bills... read more

Builder Confidence Rises Four Points in April

(Source: NAHB) WASHINGTON - Builder confidence in the market for newly built, single-family homes in April rose four points to a level of 56 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI) released today. "As the spring buying... read more

Mortgage Rates for Tuesday April 14, 2015

The current national average for fixed mortgages and ARM loans remain mostly stable for this Tuesday afternoon. Over the past week we saw rates slightly rise due to new data on the U.S. economy, and March's weak jobs report. The 30 year fixed mortgage is... read more

Current Mortgage Rates for Monday April 13, 2015

Mortgage rates for this Monday at the nation's top lenders are mostly stable, with some lenders lowering rates on a few loan programs. The current national average for the 30 year fixed is 3.66%, and the 15 year fixed average is 2.93%. The 5 year ARM is 2.83%, and the... read more

Weekly Mortgage Rate Report for Friday April 10, 2015

The national average for fixed mortgage rates are down this week. The drop in rates was attributed to a disappointing job's report. Another good note was that purchase applications were up last week, according to the latest data from the Mortgage Bankers Association.... read more