WILKES-BARRE — Gov. Josh Shapiro this week signed House Bill 1103 into law — known as Act 16 of 2025. The law will take effect in 60 days and amends the Mortgage Licensing Act (MLA) to clarify that discount points may be collected on first and secondary mortgage loans made by non-bank mortgage lenders
Mortgage rates edged slightly lower heading into the Fourth of July weekend, with the national average for a 30-year fixed mortgage settling at 6.75%—a 2 basis point drop from earlier this week. The latest data from Zillow shows a continuation of the mild rate fluctuations that have characterized much of the 2025 mortgage market. Current
Mortgage rates moved down this week, with the 30-year fixed rate averaging 6.72 percent, compared to 6.79 percent the previous week, according to Bankrate’s latest lender survey. Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.72% 6.89% 7.09% 6.80% 6.20% 15-year 5.85% 6.06% 6.51% 6.03% 5.40% 30-year jumbo 6.75%
Chances are, if you own a home, you’ve thought about it. “In general, obviously, everyone wants to not have a mortgage,” says Gordy Bright, the Dallas-based senior vice president of business development for Standard Mortgage Corporation. So the question is: Should you pay off your mortgage early if you can? If you come into a
The Former Fairway Independent Mortgage Corporation Becomes Fairway Home Mortgage MADISON, Wis., July 2, 2025 /PRNewswire/ — Fairway Independent Mortgage Corporation announced today that it is changing its name to Fairway Home Mortgage. Fairway Independent Mortgage Corporation Fairway Home Mortgage, the nation’s #2 overall retail mortgage lender, had been operating under its original name since
What stood out from the end of June data was the refinance index increasing 7% from the previous week and coming in 40% higher than the same week one year ago. The refinance share of mortgage activity increased to 40.1% of total applications from 38.4% the previous week. “Mortgage rates were lower across all loan
With the mortgage market in turnaround, many homeowners are looking to tap their home equity rather than sell. One of the largest home lenders in the U.S., Rocket Mortgage, also has some of the most generous limits on home equity loans: up to $500,000. We also like that this online lender consistently ranks tops for
Janelle from Raleigh, North Carolina, says she “did the ultimate no-no” when she bought a house with someone to whom she wasn’t married. After about a year, they broke up and she moved out. Now, they’re four months behind in mortgage payments, haven’t been able to sell the house and are facing foreclosure. She’s also
Much of the recent movement in rates can be tied to the Trump administration’s political machinations at the Federal Reserve. The president has continued to point fingers at Fed Chair Jerome Powell for failing to lower rates more quickly, even as inflation nears the Fed’s goal of 2% per year and unemployment remains relatively low
Imagine this scenario: Samantha is retired at 69, but a few years back she took out a reverse mortgage. Now, she’d like to be done with it, especially since the loan comes with a hefty interest rate of 6.75%. She currently has about $375,000 in home equity while her reverse mortgage loan is close to