After hitting the lowest levels in nearly a year (and nearly the lowest levels in 3 years) last Tuesday, rates lurched higher following Wednesday’s Fed announcement. While the Fed cut rates as expected, and while the Fed’s rate forecasts were well-received, Powell’s guidance pushed back in the other direction. Economic data on Thursday morning made […]
Mortgage Rates Roughly Unchanged to Start New Week Read More »
New Jersey’s Oceanfirst Bank is ceasing mortgage operations later this year, choosing to instead embark on a new nonbank partnership to serve its customers with home lending needs. The “strategic decision” will pair Oceanfirst with Embrace Home Loans, a deal that is set to begin in the fourth quarter this year, bank officials said. “The
Oceanfirst announces mortgage exit, partners with Embrace Read More »
A bipartisan bill looking to end the Federal Housing Administration’s life-of-loan requirement for that form of mortgage insurance coverage has been reintroduced in the House of Representatives. The Mortgage Insurance Freedom Act was previously introduced in last year’s lame duck session of Congress by Rep. Gregory Meeks, D-New York, and Rep. Pete Sessions, R-Texas. Under
FHA premium cancellation bill reintroduced in the House Read More »