Author: badmortgage
The rate for long-term mortgages reached 6.46% this week, up from 6.38% the week before and hitting a new high for at least the last six months.The last time the average rate was higher came in September of 2025, when it sat at 6.5%. The current rate is down year over year, from 6.64%.Earlier this year, rates were at their lowest point since 2022. But economic disruptions from the war in Iran have boosted oil prices, raised concerns over inflation, and contributed to the new climb in lending rates.RELATED NEWS | Trump demands Fed lower interest rates amid steady inflation,…
Thousands of US military veterans are facing the loss of their homes as a crisis tied to the Department of Veterans Affairs’ mortgage system deepens, following Donald Trump’s cancellation of a key rescue program that once helped struggling borrowers stay afloat.Trump Administration Scraps VA Mortgage Relief Program, Sparking Veteran Housing CrisisThe issue centres on VA-backed home loans, a long-standing benefit designed to help veterans achieve homeownership with favourable terms, including low or no down payments. The US Department of Veterans Affairs guarantees these loans, but does not issue them directly, instead working with private lenders to support eligible borrowers.Problems began…
Borrowers should carefully calculate their personal loan costs before applying for funding. Getty Images/iStockphoto There was disappointing economic news on an almost weekly basis in March. A report released by the Bureau of Labor Statistics on March 6 showed unemployment in February increasing, with 92,000 jobs lost in the month. A report released the following week showed progress toward lowering inflation had stalled, with the rate staying put at 2.4% for the second month in a row. These items, combined with heightened geopolitical tensions and overseas conflicts, then resulted in the Federal Reserve keeping interest rates paused in its mid-month meeting.…
Endorsements of Home Equity Conversion Mortgages surged noticeably last month from a short February, but volumes are still showing weakness compared to second-half 2025 levels. Processing ContentHECM endorsements increased 16.3% month over month in March to 2,117 loans, according to the latest data from Reverse Market Insight. While welcome news for lenders of the product, monthly numbers from the last two months are still at the slowest pace since last summer. February volume came out to 1,821 loans. Compared to one year earlier when endorsements totaled 2,128, March’s numbers came closer to par, inching down by just 0.5% year over year.Recent downward…
Illustration by Lanette Behiry/Adobe StockHomebuyers and sellers appear to be hesitating, with mortgage application activity stalling as weekly average rates hit 6.46% following five weeks of increases.Key points:The 30-year fixed-rate mortgage averaged 6.46% this week, inching closer to the elevated levels seen last spring.A monthly mortgage payment is now approximately $115 higher than it was just four weeks ago, leading to a decline in financing applications.Economists say a spring housing market recovery is still possible if rates start dropping — but time is running out.The start of the spring homebuying season appears to have stalled as both buyers and sellers wait for…
Average US long-term mortgage rate climbs to 6.46%, the highest level in nearly 7 months – myMotherLode.com Skip to main content
The U.S. Treasury will meet with insurance regulators to discuss the private credit industry. Those meetings will kick off next month and involve domestic and international insurance regulators, the department said in a Wednesday (April 1) press release. “This first series of meetings will allow participants to survey recent market events, emerging risks, risk management practices, and outlooks for the sector,” per the release. The meetings will also “facilitate greater regular communication with the state insurance regulators, who serve as the insurance industry’s primary regulators, and lay the groundwork for sustained close collaboration,” the announcement said. The announcement follows a report Sunday (March…
According to a recent study by the Mortgage Bankers Association’s (MBA) Research Institute for Housing America, some homeowners who were spared foreclosure at the start of the pandemic are still struggling financially, with the Homeowner Assistance Fund (HAF) offering relief to vulnerable homeowners and low-income families through their programs.
The Pajaro Valley Health Care District board of directors meets on March 25. (Amaya Edwards — Santa Cruz Local/CatchLight Local) WATSONVILLE >> As Watsonville Community Hospital continues to confront a grim financial outlook, the details of how it might partner with a larger health care system to stay open remain unclear.
A community lenders group is pressing for more competition in GSE credit scoring and reporting, and a new report backs the push, quantifying recent price hikes and warning that more are coming. Processing ContentCredit metric costs have gone from a range of $150 to $250 for a conventional loan in April 2024 to an average above $500, according to the Community Home Lenders of America. The cost also doubled between 2022 and 2023, going from around $50 to $100 or more.”According to a recent survey of CHLA members, the 2026 figure is now $540 on average, more than 10 times the…