Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were, however, 10% lower than they were in the same week one year ago. A big jump in mortgage rates may have
Tag: mortgages
There’s been talk about people buying real estate with cryptocurrency for some time, but a new report from banking giant Citi finds that crypto-backed mortgages have been gaining ground for reasons that suggest loans collateralized by digital assets will have a growing place in the broader lending market. Noting that it is “rare to find
“For a borrower who wants to buy right now, they can realize significant savings” by choosing an ARM, he said. The average starting rate on adjustable-rate loans with an initial fixed-rate period of five years was 4.04 percent, compared with 5.09 percent for a fixed-rate loan, as of Thursday, according to Freddie Mac. That difference
Reductions in the number of struggling tenants and people with school-related loan difficulties faltered a little in June compared to March, suggesting that the broader trend toward improvement in housing and educational debt performance is continuing, but has slowed. Missing payments for mortgage borrowers had fallen to 2.19 million in June from 2.33 million in
article The Federal Reserve will increase the federal funds rate, economists say, which will have ripple effects on interest rates on mortgages, personal loans and student loans. (iStock) The time to act is now for homeowners looking to refinance their home loan into a lower interest rate. That’s because the money markets are betting on
LAKE MARY, Fla., May 12, 2021 /PRNewswire/ — Finastra today announced the launch of Fusion Originate, a single platform encompassing consumer and business deposits, loans and mortgages. The harmonized user experience for digital online channels and back office benefits from the expertise of the Finastra UX team and design thinking to deliver a consistent and simplified