Author name: Ricky Vasquez

Home affordability levels reversed course in March, with new monthly mortgage payments heading higher in tandem with interest rates and purchase amounts. Processing Content The median payment on new purchase-loan applications during the month accelerated 3.4% to $2,131 from $2,061 in February, according to the Mortgage Bankers Association affordability index. The latest number came in […]

Key insight: The judge said the original complaint sought actual damages for Hispanic buyers steered into high-cost loans to buy undeveloped, flood-prone land. What’s at stake: The settlement provided no compensation to the buyers allegedly harmed and instead allocated $48 million for infrastructure and $20 million for law enforcement. Expert quote: “The court finds it

Closing costs for a purchase mortgage transaction average 1.04% of the home sales price, but this can range from a low of just 39 basis points to a high of 3.06%, a report from LodeStar Software Solutions found. Processing Content On a dollar basis, the national average was $4,528 with a median home price of