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News
Luminate Bank expands footprint with First State Mortgage deal
11+ min ago (358+ words) Luminate Bank is expanding its mortgage presence across the Midwest and central U.S. through an asset purchase of First State Mortgage Services, with the team integrating into Luminate’s mortgage platform and product suite. AI Summary Minneapolis-based Luminate Bank has acquired select…...
Mortgage rates ease again, but remain higher than this time last year
2+ hour, 14+ min ago (368+ words) The average long-term U.S. mortgage rate eased for the second week in a row, but remains elevated compared with this time last year. The benchmark 30-year fixed rate mortgage rate fell to 6.65% from 6.67% last week, mortgage buyer Freddie Mac said Thursday....
BRX Mortgage taps Dustan Woodhouse to lead next growth phase | Canadian Mortgage Professional
49+ min ago (419+ words) Peckford shifts to coaching as Woodhouse takes the operational helm at BRX BRX Mortgage has named Dustan Woodhouse as president, pairing one of Canada's most credentialled mortgage executives with a fast-growing Edmonton brokerage that has expanded more than 13-fold in…...
Higher mortgage rates expected for the remainder of the year
32+ min ago (501+ words) While rates dipped slightly this week, bond market volatility could mean a bumpy road ahead, and Fannie Mae is now forecasting rates at 6.8% by year-end. It may be time to buckle up and prepare for some mortgage rate turbulence in…...
Luminate Bank Acquires Select First State Mortgage Assets, Expands Midwest Presence
37+ min ago (248+ words) Luminate Bank has acquired select assets of First State Mortgage Services, adding members of the Illinois-based mortgage lender’s team as Luminate expands its operations across the Midwest and Central United States. First State Mortgage holds the leading mortgage market share…...
FHFA says GSE foreclosure prevention actions fell in May
1+ hour, 17+ min ago (540+ words) FHFA data shows Fannie Mae and Freddie Mac completed 15,855 foreclosure prevention actions in May, down from 17,201 in April. Refinances fell to 67,281 as the average 30-year fixed rate rose to 6.44%. AI Summary Foreclosure prevention activity at Fannie Mae and Freddie Mac…...
Principal Financial Group Provides $32M Refi for Springnex Plaza
1+ hour, 29+ min ago (131+ words) An affiliate of Mattone Investors secured $32 million to refinance Springnex Plaza, a 96,028-square-foot shopping center anchored by a Stop & Shop supermarket in the Queens neighborhood of Springfield Gardens. Principal Financial Group provided the debt, while Northmarq’s Robert Delitsky and Charles…...
Mortgage rates drop despite bond market turmoil: Why rates may rise again in coming weeks
1+ hour, 47+ min ago (218+ words) Mortgage rates fell slightly despite bond market volatility. Here’s why Treasury yields, inflation, the US deficit and oil prices could push rates higher. Mortgage rates fell slightly last week despite a big jump in bond market volatility The average 30-year…...
Mortgage Rates Are Lower This Week. Could They Drop Further?
2+ hour, 22+ min ago (246+ words) Johanna Arnone helps lead coverage of homeownership and mortgages at NerdWallet. Previously, she worked for more than a decade in magazine publishing, including six years as the editor of Muse, an award-winning science and tech magazine for young readers. She…...
Mortgage rates hold near 6.7% as inflation cools
4+ hour, 49+ min ago (547+ words) Chris Martin is a US economics and current affairs journalist covering the intersection of policy, markets, and everyday financial life. With a background in financial reporting and a sharp eye for the stories behind the numbers, Chris brings clarity to…...