Borrowers with certain fixed-rate mortgages from Navy Federal Credit Union can now have their interest rate lowered when rates offered by the lender decline. No refi necessary, only a $250 fee.
The share of consumers surveyed by Fannie Mae in May who said now is a good time to buy a home decreased by 4 percentage points from April, while the share of respondents who said now is a good time to sell increased by 3 percentage points.
Rate locks decline; MISMO launches latest reference model; CFPB warns on the use of chatbots; Chase to pay mortgage seekers to shop with the bank; mortgage market losing share to cash buyers; data breaches lead to increase in denial of mortgage credit.
FHFA proposed adjusting the capital framework that applies to the GSEs to incorporate planned changes in the usage of credit scores. Lenders want more data before any changes are implemented.
Issues at regional banks will likely slow the economy and have impacts on mortgage lending through the year, according to economists at the MBA. Still, GSE economists suggest that originations could pick up soon.
A key question in setting up a special purpose credit program is whether the lender will target a population based on a characteristic such as race or whether it will use geography as a proxy for the target group.
The persistence of work-from-home arrangements has given job seekers less incentive to relocate, according to a new quarterly survey from Challenger, Gray & Christmas.
As interest rates rise, homeowners are staying out of the real estate market because they don’t want to let go of the record-low mortgage rates they were able to obtain over the last two years.
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