A reverse mortgage can be an appealing option for senior homeowners looking to boost their income. Today, reverse mortgages have shed their shady reputations from years ago and are government-backed loans well worth considering. However, with potentially high fees and stout interest charges, shopping for the best reverse mortgage company is more important than ever.
The agreed-to merger between Rocket and Mr. Cooper is the first large domino to fall in what is shaping up to be another year of consolidation. Mortgage lenders are still dealing with overcapacity, and in the fourth quarter, swung back to losses on production. On a pro forma basis, Monday’s deal would create an originator
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.82% -0.03 FHA 30-Year Fixed 7.35% No Change VA 30-Year Fixed 6.35% -0.10 20-Year Fixed 6.55% -0.08 15-Year Fixed 5.88% -0.07 FHA 15-Year Fixed 6.80% No Change 10-Year Fixed 6.06% No Change 7/6 ARM 7.34% -0.01 5/6
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.85% +0.02 FHA 30-Year Fixed 7.35% No Change VA 30-Year Fixed 6.45% -0.01 20-Year Fixed 6.63% +0.03 15-Year Fixed 5.95% -0.01 FHA 15-Year Fixed 6.80% No Change 10-Year Fixed 6.06% +0.35 7/6 ARM 7.35% +0.01 5/6 ARM
Mortgage applications at Bank of America jumped 80% between January and March. Some of that is seasonality with the spring home-buying season kicking off, but not all. Typically the bank sees about a 60% increase in applications this time of year. In January, mortgage rates were hovering around 7%. By March, they’d come down closer to 6.5%.
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. If you have your sights set on a higher-end home, you may find you don’t qualify for some lending options. The same may be true if you live in an area with a competitive
It was a well-timed week for mortgage rates to stabilize: The 30-year mortgage averaged 6.77% in the week ending March 27, down three basis points from the previous week. A basis point is one one-hundredth of a percentage point. A three-basis-point decline sounds kind of measly, but it stopped a two-week streak of rising rates.
PROVIDENCE – A Rhode Island mortgage broker who fleeced investors and the US government out of approximately $4.5 million, using the cash for personal purchases and to repay other investors as he ran a Ponzi scheme, was sentenced Thursday to more than four years in federal prison. A US District Court judge in Providence ordered
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.83% No Change FHA 30-Year Fixed 7.35% No Change VA 30-Year Fixed 6.46% +0.04 20-Year Fixed 6.60% +0.01 15-Year Fixed 5.96% -0.01 FHA 15-Year Fixed 6.80% No Change 10-Year Fixed 5.71% -0.37 7/6 ARM 7.34% No Change
00:00 Brad Mortgage rates for the week ending March 27th are out. Yahoo Finance’s Claire Boston joins me now with the numbers. Hey Claire. 00:07 Claire Boston Hi Brad. So this week, the 30-year mortgage rate is at 6.65%, that is basically flat from 6.67% last week. And 15-year mortgage rates, they rose slightly to