In his press conference following last week’s Federal Reserve meeting, Fed Chair Jerome Powell used the term “wait and see” almost a dozen times when talking about the central bank’s outlook for the economy. And it’s likely that homebuyers hoping for lower rates are going to have to take the same approach. With so much
Federal law enforcement officials reportedly opened a formal probe Thursday into New York Attorney General Letitia James over mortgage fraud allegations, according to multiple reports. The FBI and U.S. Attorney for the Northern District of New York have reportedly opened their investigation into James following a referral letter U.S. Federal Housing Finance Agency director William
“I think the last few years have paid off for us. First off, we grew 60% last year,” Arvielo said. “So I think the consolidation of loan originators is part of it. I think the move-up buyer is driving the market, meaning a former first-time home buyer [who] now has a significant amount of equity.”
The U.S. Department of Justice (DOJ) has launched a formal criminal investigation into New York Attorney General Letitia James, according to multiple published news reports. The probe, which became public Thursday, May 8, follows an April referral from Federal Housing Finance Agency (FHFA) Director William Pulte, who cited alleged mortgage application fraud involving James’ properties
Multiple reports on Thursday said the FBI launched an investigation into alleged mortgage fraud claims against New York Attorney General Letitia James, who rose to national prominence through her legal battles with President Donald Trump. Citing law enforcement sources, the reports said the FBI’s Albany office is handling the investigation, which stems from allegations that James falsified records to secure
People looking to get on the property ladder have been given a new mortgage option. Buying a house for the first time is financially straining but a bank has introduced a new scheme to help people. As reported by The Sun, Skipton Building Society has announced its Delayed Start Mortgage. It gives borrowers mortgage payments
The states with the highest 30-year new purchase mortgage rates Thursday were Alaska, West Virginia, Maryland, South Dakota, Maine, Mississippi, North Dakota, and Wyoming. The range of rate averages for these eight priciest states was 7.00% to 7.08%. Every other state, plus Washington, D.C., had a Thursday 30-year rate average below 7%. The cheapest of
Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.95% +0.04 FHA 30-Year Fixed 7.37% No Change VA 30-Year Fixed 6.56% +0.03 20-Year Fixed 6.70% +0.04 15-Year Fixed 6.01% +0.04 FHA 15-Year Fixed 6.78% No Change 10-Year Fixed 5.90% -0.02 7/6 ARM 7.36% No Change 5/6 ARM 7.27% +0.04 Jumbo 30-Year Fixed 6.92% +0.04 Jumbo
Mortgage rates stayed steady this week. On Thursday, the Federal Home Loan Mortgage Corporation, better known as Freddie Mac, reported the weekly U.S. average 30-year fixed-rate mortgage rate remained at 6.75% for a second week. A posting on the Freddie Mac website offered an upbeat assessment of the current situation. “At this time last year,
article FILE – A sign is posted in front of a home for sale on August 07, 2024 in San Rafael, California. (Photo by Justin Sullivan/Getty Images) The average rate on a 30-year mortgage stood at 6.76% for the second week in a row. The rate is not as high as the highest levels the U.S. has