Wells Fargo said late Tuesday it was shrinking its home-mortgage business, aiming to serve its own bank customers as well as people in “minority communities.” Wells Fargo WFC, -0.07% also Read more
Tag: real estate credit
Wells Fargo ordered to pay $3.7 billion for alleged mismanagement of auto, mortgages and deposit accounts
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
With Senate results too close to call, food-aid programs for low-income Americans hang in the balance, and mortgage refinancing demand falls to lowest level since 2000
Hi, MarketWatchers. Don’t miss these top stories. With Senate results too close to call, food-aid programs for low-income Americans hang in the balance The farm bill determines everything from agricultural Read more
Mortgage refinancing demand falls to lowest level since 2000
The numbers: Mortgage rates remain above 7%, slowing demand for refinancing and dragging overall mortgage demand down for the seventh week in a row. Mortgage applications fell 0.1% this week, Read more
BofA cuts home price growth to 0% for next 2-3 years, but still sees no major distress unfolding
Record low affordability and a dearth of houses to buy have credit analysts at BofA Global cutting their outlook for U.S. home price growth to zero in 2023, while also Read more
Home-buying sentiment hits all-time low, as mortgage rates surpass 7%, Fannie Mae says
Home shoppers have been so put off by elevated home prices and mortgage rates that buying sentiment has hit an all-time low, Fannie Mae FNMA, +1.03% said. The agency on Read more
‘There’s no doubt the housing market received a significant shock’: U.K. house prices fall further
U.K. house prices fell at its fastest rate in October in 21 months, after mortgage rates soared in reaction to the ill-fated mini budget. According to the latest data from Read more
A home buying tactic from the ’70s and ’80s is seeing a revival—here’s how it works and what buyers and sellers get out of it
Home buyers are looking for ways to whittle down their mortgage rates. As a result, a once-popular home-selling tactic is making a comeback. It’s called a temporary buydown, and it Read more
Credit carnage spurs bargains on bonds tied to $16 trillion pile of U.S. household debt
Big bargains have made a roaring comeback on bonds tied to the $16.2 trillion pile of U.S. consumer debt. Higher borrowing costs, tighter credit conditions and sharp losses have been Read more
If I sell my rental I can pay off my primary mortgage and be debt-free. Is that a good idea in this housing market?
Dear MarketWatch, I have a rental property that’s worth $175,000, and I owe $53,000. My primary home is worth $265,000 and has $108,000 left on the mortgage. My question is Read more