Mortgage Acts and Practices
The 30-year fixed-rate mortgage averaged 4.48 percent this week, rising slightly from last week's average, Freddie Mac reports.
REALTORS® and the Consumer Financial Protection Bureau will be closely monitoring the rules' impact on borrowers.
New mortgage lending rules to protect consumers from risky loan products will take effect this Friday, and Realtors® will be on the front lines as homebuyers access safer mortgages that meet strong underwriting standards.
High income earners shop for mortgages distinctly different than lower income earners, finds a new Fannie May study.
The 30-year fixed-rate mortgage started the year more than a full percentage point above its average last year at this time.
Rising mortgage rates are biting into home sales, a trend that will likely continue as interest rates readjust in the new year.
The majority of housing markets remain affordable to the average family, but rising mortgage rates and rising housing prices are causing more families to have to stretch financially, according to the mortgage giant.
Mortgage applications have dropped for six out of the past seven weeks, according to the Mortgage Bankers Association's seasonally adjusted index.
The Federal Housing Finance Agency is inviting the public to comment on a new proposal aimed at reducing Fannie Mae and Freddie Mac's presence in the high-end mortgage market.