Key insight: A report from the White House Council of Economic Advisers claimed that the Consumer Financial Protection Bureau’s rules raised consumer interest rates and reduced the availability of credit since its inception. Supporting data: The report says the agency’s actions raised consumers’ borrowing costs by between $237 to $369 billion over the 13 years […]
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Plummeting mortgage rates during the third quarter last year started a shift in originators’ business mix towards refinance, and this, more than a lessening emphasis on loan manufacture quality, resulted in a huge jump in defect rates, Aces Quality Management said. Processing Content For the last week of June, the 30-year conforming fixed rate mortgage
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As home-price growth has flattened, the average down payment has decreased, according to a new industry report. Processing Content The typical homebuyer’s down payment in the United States decreased 1.5% year over year to $64,000 in December, the first drop in five months, Redfin found. That’s 15.2% of the average purchase price, compared with 16.7%
Average down payment falls amid price cooling Read More »