Author: badmortgage

Understanding the costs and eligibility requirements of each lender can help you choose the best cash-out refinance option for your needs. Forbes Advisor collects user sentiment both directly through NPS surveys a

The average interest rate for a 30-year, fixed-rate conforming mortgage loan in the U.S. is 6.351%, a decrease of about 5 basis points from the day before, according to data from mortgage data company Optimal Blue. Meanwhile, the average rate for a 15-year, fixed-rate conforming mortgage loan is 5.667%, down about 6 basis points for the same period. Compare mortgage rates for April 2, 2026 Here’s a quick look at week-over-week rate changes. Mortgage TypeRateRate A Week BeforeApproximate Basis Points Change30-year conventional6.351%6.402%-515-year conventional5.667%5.776%-1130-year jumbo6.546%6.513%+430-year FHA6.069%6.149%-830-year VA5.965%6.055%-930-year USDA6.094%5.947%+1430-year conventionalRate6.351%Rate A Week Before6.402%Approximate Basis Points Change-515-year conventionalRate5.667%Rate A Week Before5.776%Approximate Basis Points…

Senator Elizabeth Warren, a Democrat from Massachusetts, asked the Trump administration for details on its work investigating and regulating collections of “zombie” second mortgages, old loans that homeowners hadn’t heard from lenders about in years before being hit with huge bills.Processing ContentIn a letter sent Tuesday to acting Consumer Financial Protection Bureau Director Russell Vought, Warren called the administration’s approach to the issue a “dereliction of its duty” and said she remained concerned for Americans at risk of losing their houses to debt collectors that revive the loans. READ MORE: Warren probes whether banks sold forgiven ‘zombie’ secondsLast year, Bloomberg News…

See Wednesday’s report on average refi rates on different types of home loans.

Processing ContentKey insight: The agency’s enforcement and supervision units would face the heaviest hits, with staffing plummeting by 80%.Supporting data: CFPB officials alleged that a new reduction in force, or RIF, is a financial necessity after Congress slashed the bureau’s budget in half.Forward look: Critics view the latest “revised” RIF plan as a tactical maneuver to bypass current court injunctions. The Consumer Financial Protection Bureau has asked an appeals court to allow acting CFPB Director Russell Vought to immediately fire more than half of the agency’s staff.On Tuesday, the Department of Justice filed a motion with the U.S. Court of Appeals for…

Mortgage rates eased lower for the second day in a row. The 30-year fixed-rate fell seven basis points to 6.29%, according to the Zillow lender marketplace. The 15-year fixed dropped by eight basis points to 5.73%.  Since Friday, investors have been moving back into bonds, lowering yields and with them, mortgage rates. Here are the current mortgage rates, according to the latest Zillow data: 30-year fixed: 6.29% 20-year fixed: 6.29% 15-year fixed: 5.73% 5/1 ARM: 6.13% 7/1 ARM: 6.31% 30-year VA: 5.96% 15-year VA: 5.53% 5/1 VA: 5.48% Remember, these are the national averages and rounded to the nearest hundredth.…

Two lending software providers are adding AI enhancements for originators as mortgage companies carve their path in the rapidly changing artificial intelligence landscape. Processing ContentDark Matter Technologies, owner of the Empower loan origination system, unveiled a new embedded AI assistant named Ask Aiva this week that can deliver answers to loan officers’ questions instantly based on cited sources. Built on retrieval-augmented generation architecture that searches connected data sources and determines relevant context, Ask Aiva accepts and generates responses in plain conversational language. Empower users have the ability to click directly into results to view and verify source data and reasoning in Ask…

The rate on a 30-year fixed refinance slipped to 6.51% today, according to the Mortgage Research Center. The average rate on a 15-year mortgage refinance is 5.56%. On a 20-year mortgage refinance, the average rate is 6.38%.  Related: Compare Current Refinance Rates 30-Year Refinance Ra

Surprisingly Light Volatility 1 Hour, 20 Min ago Surprisingly Light Volatility Bonds digested several big ticket economic reports as well as a host of war-related headlines that probably would have caused a much bigger reaction a few weeks ago. But the net effect was an almost perfectly flat day by the 3pm CME close. If anything, the data caused some weakness and we can say bonds would have rallied more noticeably otherwise. The weak response is no surprise considering all 3 reports were stronger than expected. This also serves as a reminder that Friday’s jobs report is still…

Millions of Americans are paying thousands of dollars in homeowners association and condo fees, an often overlooked cost when buyers budget for a mortgage, new industry data found.Processing ContentAlmost 18 million homeowners in the 100 largest United States metros paid HOA or condo fees in 2024, including 2.6 million who paid $500 or more a month, equal to more than $6,000 a year, according to a report from LendingTree. “HOA fees can quietly reshape what homeownership really costs,” said Matt Schulz, LendingTree’s chief consumer finance analyst. “When fees climb into the hundreds each month, it can squeeze budgets already stretched by…