The Consumer Financial Protection Board (CFPB) on Tuesday said it is requiring Wells Fargo & Co. to pay $3.7 billion for alleged widespread mismanagement of auto loans, mortgages and deposit Read more
Tag: mortgages
Decline in U.S. pending home sales gathers steam in September
The numbers: U.S. pending-home sales fell 10.2% in September, which is the fourth straight monthly drop, according to the monthly index released Friday by the National Association of Realtors (NAR). Read more
Huntington Bancshares takes long view as other banks scramble on mortgages, auto loans and lower deposits
Huntington Bancshares Corp. stock rallied Friday as the financial-services company raised its outlook for net interest income above Wall Street estimates while acknowledging the economic headwinds that have been challenging Read more
Adjustable-rate mortgage applications rise to highest level since March 2008, while applications fall overall
The numbers: Mortgage applications fell 4.5% this week, as higher mortgage rates dragged down the housing sector. Applications fell for the fourth month in a row, to the lowest level Read more
One chart reveals how sellers are adjusting to higher mortgage rates by slashing home prices
Here’s a chart that speaks a thousand words about the state of the real-estate market right now. The chart above, part of a new report by real-estate brokerage Redfin RDFN, Read more
How the 55% plunge in mortgage originations is hitting nonbanks: Fitch
Major U.S. banks already have been cutting staff and operations related to mortgage originations as interest rates have shot up and the roaring housing market has cooled in 2022. For Read more
Mortgage applications fall as rates rise to the highest level in 16 years
The numbers: Mortgage applications fell 2% this week, as rates continue to inch higher, adding hundreds of dollars in costs to potential homebuyers. Rates are a hop and a skip Read more
Mortgage rates dip slightly to 6.66%, but have doubled from a year ago
The numbers: Mortgage rates took a breather from its march towards 7% this week, as the economic outlook looks uncertain. The 30-year fixed-rate mortgage averaged 6.66% as of Oct. 6, Read more
Mortgage rates dip slightly to 6.66%, but have doubled from a year ago
The numbers: Mortgage rates took a breather from its march towards 7% this week, as the economic outlook looks uncertain. The 30-year fixed-rate mortgage averaged 6.66% as of Oct. 6, Read more
Opinion: Reverse mortgages are mostly misunderstood — they can offer seniors a lifeline as markets sink
If they own stocks or bonds, they might not want to sell with both markets crashing simultaneously. Or they may be out of options altogether and their home is their Read more
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