Latest Mortgages News
New York Community Bancorp subsidiary selling residential mortgage servicing business for $1.4B
A subsidiary of New York Community Bancorp, Flagstar Bank, is selling its residential mortgage servicing business to Mr. Cooper Group Inc. for about $1.4 billion. The sale includes mortgage servicing rights and the third-party origination platform. NYCB has struggled...
Average rate on a 30-year mortgage inches up to 6.78%, first uptick in three weeks
LOS ANGELES (AP) — Mortgage rates inched higher this week, keeping the average rate on a 30-year mortgage essentially flat and near the 7% range it's been in most of this year. The rate rose to 6.78% from 6.77% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the...
Blackstone Mortgage: Q2 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Blackstone Mortgage Trust Inc. (BXMT) on Wednesday reported a second-quarter loss of $61.1 million, after reporting a profit in the same period a year earlier. On a per-share basis, the New York-based company said it had a loss of 35 cents....
PennyMac Mortgage: Q2 Earnings Snapshot
WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — PennyMac Mortgage Investment Trust (PMT) on Tuesday reported second-quarter profit of $25.4 million. The Westlake Village, California-based company said it had profit of 17 cents per share. The results...
US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
LOS ANGELES (AP) — The nation's housing slump deepened in June as sales of previously occupied homes slowed to their slowest pace since December, hampered by elevated mortgage rates and record-high prices. Sales of previously occupied U.S. homes fell 5.4% last month from May to a...
US homes find fewer foreign buyers as rising costs and a strong dollar leave market in record slump
LOS ANGELES (AP) — Sales of U.S. homes to Chinese, Canadian and other foreign buyers have fallen to the lowest level in more than a decade, hampered by a strong dollar and more hurdles that have kept the housing market in a deep sales slump for over two years. Some 54,300...
Average rate on a 30-year mortgage drops to 6.77%, sliding to lowest level since March
LOS ANGELES (AP) — The average rate on a 30-year mortgage dropped this week to a four-month low, a welcome decline in borrowing costs for prospective homebuyers grappling with the challenge of record-high home prices and a dearth of properties on the market. The rate fell to 6.77%...
Average rate on a 30-year mortgage falls slightly, easing borrowing costs for home shoppers
LOS ANGELES (AP) — The average rate on a 30-year mortgage fell slightly this week, providing modest relief for home shoppers facing record-high home prices. The rate fell to 6.89% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. A year ago, it averaged 6.96%. ...
Average rate on a 30-year mortgage climbs for the first time since late May to just under 7%
LOS ANGELES (AP) — The average rate on a 30-year mortgage rose this week, pushing up borrowing costs on a home loan for the first time since late May. The rate rose to 6.95% from 6.86% last week, mortgage buyer Freddie Mac said Wednesday. A year ago, the rate averaged 6.81%. ...
Market for newly built homes slows as elevated mortgage rates put off many home shoppers
LOS ANGELES (AP) — Homebuilders who bucked the worst of last year’s housing slump may be seeing their luck run out. After showing signs of strengthening early this year, sales of new U.S. homes fell in April and May from a year earlier by 7.7% and 16.5%, respectively. ...
