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Mortgage interest rates last week rose at the fastest pace in over a year, throwing cold water on already cooling demand. Total mortgage application volume was essentially flat for the week, rising just 0.5% according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan
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Kathy Kraninger, former president Donald Trump’s appointee to head the Consumer Financial Protection Bureau. Andrew Harrer/Bloomberg via Getty Images “Big deal” Both are a type of qualified mortgage, a category that carries legal protections for lenders from consumer lawsuits. That may happen, for example, if borrowers can’t make monthly payments and lose their homes to
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New York Attorney General Letitia James said Monday that her office is continuing to actively investigate the Trump Organization’s alleged inflation and deflation of property values to evade tax liability in the state and receive other financial benefits. James also said that the U.S. Supreme Court’s decision to allow the Manhattan District Attorney office to
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Historic row houses in Colombia Heights neighborhood of Washington DC, USA amedved | iStock | Getty Images Homeowners struggling amid the coronavirus pandemic received some welcome news on Tuesday, with the Biden administration announcing it will extend forbearance and foreclosure relief programs. The White House said that the move will benefit the 2.7 million homeowners
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President Joe Biden directed federal housing regulators to extend mortgage forbearance programs for an additional six months and prolong foreclosure relief programs on Tuesday in a move that will cover an estimated 70% of mortgages for single-family homes in the U.S. As the latest Covid-19 relief package continues to make its way through the Congressional
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