Homeowners have on average, $181,000 in equity. This new product helps them access it before transitioning to a new home DETROIT, June 24, 2025 /PRNewswire/ — Rocket Mortgage, the nation’s largest mortgage lender and a part of Rocket Companies (NYSE: RKT), today announced the launch of bridge loans – a strategic solution designed to help buyers
As July 2025 approaches, would-be homebuyers are hoping for a break in mortgage rates. With the Federal Reserve holding steady and inflation pressures fluctuating, predictions for July remain uncertain. Here’s what experts forecast. Fed holds rates, but July meeting looms At its June 2025 meeting, the Federal Reserve kept its benchmark interest rate unchanged at
Some Massachusetts homeowners have received surprise letters — and even lawsuits — after Bank of America accidentally discharged hundreds of mortgages across the country before they were paid off. This is a tale of what can go wrong when you combine two big banks and some sloppy paperwork, leaving unsuspecting homeowners caught in the middle. The
But ICS remains expensive compared with its rivals in the market despite the reductions. It also charges existing customers more than new ones. ICS Mortgages, the trading name of Dilosk, said it was cutting its rates by up to 0.15 percentage points. The reductions are across fixed mortgage rates for both new and existing owner-occupier
Key Takeaways After surging in mid-May during congressional debate over President Trump’s proposed tax bill, mortgage rates have reversed course over the past four weeks. New 30-year fixed-rate loans now average 6.91%, down 21 basis points from May 23. Other popular loan types have also dropped over the past month: 15-year rates are down 17
Momentum is building for credit reporting reform, with advocacy groups like the Mortgage Bankers Association (MBA) calling for a shift away from the longstanding tri-merge credit report model toward a bi-merge or even single-report system. But stakeholders across the credit ecosystem are sounding alarms over the potential consequences of such a move. “We are injecting
An interest-only mortgage has been launched by Gen H to provide an affordability boost for borrowers, including first-time buyers. Interest-only mortgages allow homeowners to pay the interest on the loan only, making the repayments cheaper. The new product from Gen H, which is being launched in three stages, is now available
Mortgage rates ticked down again Monday, with the average 30-year fixed rate falling to 6.88%. Homebuyers navigating a high-rate market may find modest relief, but will the trend continue? National mortgage rates as of June 23, 2025 Zillow reports the following averages: 30-year fixed: 6.88% (down 0.02%) 15-year fixed: 5.90% (down 0.02%) 5-year ARM: 6.99%
When you finance your home with a mortgage, your lender will likely require you to maintain an escrow account. With this setup, a portion of your monthly mortgage payment is set aside to cover your annual property taxes and home insurance premiums. Lenders want to protect their financial investment when they loan you money; an
My wife and I are in the process of selling an investment property, which will allow us to pay off the associated mortgage, our home mortgage, and leave us with another $100,000 in savings. As much as it would be great to be mortgage free, I’m wondering if we are doing the right thing repaying