Latest Mortgages News
Farmer Mac: Q3 Earnings Snapshot
WASHINGTON (AP) — WASHINGTON (AP) — Federal Agricultural Mortgage Corp. (AGM) on Monday reported third-quarter earnings of $49.8 million. On a per-share basis, the Washington-based company said it had net income of $3.86. Earnings, adjusted for non-recurring costs, came to $4.10...
Average rate on a 30-year mortgage in the US rises for fifth straight week
The average rate on a 30-year mortgage in the U.S. rose for the fifth straight week, returning to its highest level since early August. The rate rose to 6.72% from 6.54% last week, mortgage buyer Freddie Mac said Thursday. That's still down from a year ago, when the rate averaged...
Summer pullback in mortgage rates helped pave way for lower down payments for many homebuyers
LOS ANGELES (AP) — Homebuyers opted to make smaller down payments this summer as declining mortgage rates helped boost their purchasing power, though home shoppers’ upfront costs remain near their peak. The average down payment on a U.S. home as a percentage of the purchase price...
New York Mortgage Trust: Q3 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — New York Mortgage Trust Inc. (NYMT) on Wednesday reported third-quarter profit of $42.8 million. On a per-share basis, the New York-based company said it had net income of 36 cents. Earnings, adjusted for non-recurring costs, came to 39 cents per...
Allies hope a Trump win changes the system for mortgages. Some warn it will make them pricier
If Donald Trump wins the presidential election, Republicans hope he will fulfill a longstanding GOP goal of privatizing the mortgage giants Fannie Mae and Freddie Mac, which have been under government control since the Great Recession. But Democrats and some economists warn that,...
Average rate on a 30-year mortgage in the US rises again to highest level in nearly 3 months
The average rate on a 30-year mortgage in the U.S. rose again this week, reaching its highest level in nearly three months. The rate rose to 6.54% from 6.44% last week, mortgage buyer Freddie Mac said Thursday. Despite the recent uptick, the average rate is down from a year ago,...
Blackstone Mortgage: Q3 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Blackstone Mortgage Trust Inc. (BXMT) on Wednesday reported a third-quarter loss of $56.4 million, after reporting a profit in the same period a year earlier. The New York-based company said it had a loss of 32 cents per share. Earnings, adjusted...
PennyMac Mortgage: Q3 Earnings Snapshot
WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — PennyMac Mortgage Investment Trust (PMT) on Tuesday reported third-quarter earnings of $41.4 million. On a per-share basis, the Westlake Village, California-based company said it had net income of 36 cents. ...
Rescued New York Community Bank to lay off 700 at its Flagstar subsidiary
Struggling New York Community Bancorp said Friday that it is cutting 700 jobs at its Flagstar subsidiary as it tries to return to profitability after being rescued by investors earlier this year. The bank said the cuts amount to 8% of its head count. It's also selling its...
Average rate on a 30-year mortgage in the US rises to the highest level in 8 weeks
The average rate on a 30-year mortgage in the U.S. rose for the third week in a row, reaching its highest level in eight weeks. The rate rose to 6.44% from 6.32% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.63%. The last time the...
