To their credit, most mortgage lenders did an admirable job of aggressively pricing-in the bond market rally after last Friday’s jobs report. Many mortgage market pros repeat the phrase “stairs down, escalator up” when it comes to the pace at which lenders change rates. The idea is that lenders are quicker to raise rates than […]

Black homeowners, who already face long-term disadvantages in the housing market, are losing more ground.  The Black homeownership rate fell this summer to its lowest rate since late 2021, according to Redfin. The brokerage, now a Rocket Cos. affiliate, cited annual unemployment figures, which are higher for both Black men and women than other ethnic

The property insurance portion of the average mortgage payment keeps rising, and is now just shy of 10% of the average monthly expense, ICE Mortgage Technology said in its September Mortgage Monitor Report. Mortgage payments are broken down into two components — principal and interest, and taxes and insurance; the latter normally goes into the