Mortgage rates improved more noticeably today, and while the average rate isn’t quite as low as it was last week, it’s fairly close. Rates are based on movement in the bond market. Bonds were most likely to move in response to one or both of today’s big economic reports. Oddly enough, most of the bond […]
Mortgage Rates Back Down Near Recent Lows Read More »
Pennymac may face prolonged “pay-to-pay” litigation after a judge rejected the company’s move to toss a borrower’s class action complaint. North Carolina homeowner Clayton Williams is suing Pennymac in federal court over the fee he was charged when he made a mortgage payment with a debit card last year. The servicer says a third-party vendor
Pennymac must face ‘pay-to-pay’ suit, judge rules Read More »
Key takeaway: Treasury Secretary Scott Bessent said in an appearance Wednesday that the Federal Reserve should require regional Fed presidents to reside in their districts for three years going forward. Supporting data: All 12 regional Fed presidents’ terms expire every five years and are reappointed as a bloc. The next vote on reappointing regional bank
Bessent floats residency rule for regional Fed presidents Read More »