The average 30-year fixed-rate mortgage dropped to 6.62% on Thursday, a new low for 2024 that appears to be tied to the expectation that the Federal Reserve could move to cut interest rates at its next meeting in September. This is according to data reported by Mortgage News Daily.On Wednesday, Fed

Talk to a real estate agent about expectations for the fall and they’ll likely mention that the housing market will be slow due in part to the election, a belief in the industry that’s become rote.But a new report from John Burns Research and Consulting refutes that notion. The firm crunched 35 year

Mortgage servicer and lender Planet Home Lending is acquiring the retail division assets of employee-owned Axia Home Loans, HousingWire has learned. Employees of the Washington state-based Axia, a retail and wholesale lender, were informed of the transaction on Wednesday afternoon in a one-hour call

With company executives predicting that things will get messy in the U.S. real estate landscape over the next several months due to the business practice changes outlined in the National Association of Realtors’ (NAR) commission lawsuit settlement agreement, eXp World Holdings — the parent company o

If antitrust lawsuits are impacting agent commissions, it’s not happening at Compass.The brokerage claimed on its second-quarter 2024 earnings call that it’s experiencing virtually no changes in commissions despite the $418 million settlement agreed to by the National Association of Realtors (NAR) f

Roughly one month ago, Ginnie Mae released a term sheet for a highly anticipated new development for the reverse mortgage industry: a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as HMBS 2.0.The new term sheet detailed several differences from the existing

Technology and outsourcing solutions company a360inc announced on Wednesday that it has acquired ProVest, a Tampa-based process and litigation information services provider for creditors. Some of a360inc’s key constituencies include mortgage lenders, servicers and investors, as well as title agencie

More than three-quarters of U.S. adults believe that the Social Security program — which provides monthly benefit payments to Americans starting as early as age 62 — needs an “overhaul,” as it continues to face challenges to its solvency with no sign of political will or compromise to address it.Thi

U.S. Vice President Kamala Harris is now the presumptive Democratic Party nominee in this November’s presidential election, and at her first major rally since replacing President Joe Biden at the top of the ticket, she took time to highlight at least one major housing issue: the cost of rent.Speakin

The Federal Reserve on Wednesday kept benchmark interest rates at a range of 5.25% to 5.5%, the eighth consecutive meeting in which rates were unchanged.Members of the Federal Open Market Committee (FOMC) said in a statement that they would “carefully assess incoming data, the evolving outlook, and

Following a $600,000 research grant to the city of Nome, Alaska, that was issued last year, senior officials at the U.S. Department of Housing and Urban Development (HUD) visited the University of Alaska at Fairbanks to tout the possibilities that 3D printing technology could bring to the constructi

Like its peers, New York-based asset manager Rithm Capital, the owner of multichannel lender Newrez, has invested in building an extensive servicing portfolio over the past few years. This has occurred both organically and through acquisitions as Rithm aims to retain customers when mortgage rates de

The National Association of Realtors (NAR) has had its fill of lawsuits.The besieged trade association filed a motion to dismiss a discrimination lawsuit brought in June by former employee Roshani Sheth, who alleges that the trade group fired her in retaliation for filing internal complaints that al

San Diego-based Smartfi Home Loans, which primarily is active as a wholesale lender in the reverse mortgage space, will launch a retail division that offers reverse mortgage products and has hired industry veteran Paul Fiore as its president of retail sales.“I am thrilled to announce that I have sta

As a majority of older adults continue to express an overwhelming preference for aging in place in their homes, any decision needs to be made with a full understanding of a particular senior’s needs, capabilities, and access to essential services and people.This was an idea shared by Wayne State Uni

California Regional MLS (CRMLS) has decided to remove fields listing seller concessions from its platform.In late May, CRMLS added a seller concessions-in-price data field to its platform, allowing listing agents and brokers to list how much a seller was willing to contributes toward the buyer’s tra

In response to a poaching lawsuit filed two months by Home Mortgage Alliance Corp. (HMAC), wholesale lender OCMBC Inc. has denied the allegations while countersuing HMAC and its co-founder, Alfred Hanna, on behalf of an employee, Michael Turturro, and his corporation, Jet Alliance.The OCMBC counterc

Mortgage-related consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) fell between the first and second quarters of this year, according to a review of the CFPB’s consumer complaint database conducted by HousingWire.A total of 5,652 mortgage-related complaints were submit

Fannie Mae recorded $4.5 billion in net income in the second quarter, pushing its net worth to $86.5 billion as of June 30.Its net income was up only $164 million from the first quarter, despite a large uptick in purchases of single-family mortgages. Fannie Mae purchased $85.9 billion in single-fami