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Housing Market Tracker: Mortgage rates over 7%

Housing Wire

Debt-ceiling drama pushed bond yields up last week, taking mortgage rates to a new 2023 high in the middle of the spring home-selling season. Mortgage rates rose to a 2023 year high of 7.12% as the debt ceiling talks pushed bond yields higher. We might get some short-term reprieve in bond yields and mortgage stress.

Mortgages 500
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Planet acquires Platinum Home Mortgage Corporation

Housing Wire

Connecticut-based lender and servicer Planet Home Lending has acquired the assets of Illinois-based retail lender Platinum Home Mortgage Corporation. Founded in 1993 by Bill and Michael Giambrone, Platinum has 22 branches and 79 active loan officers, according to the mortgage tech platform Modex. The lender originated $6.5

Mortgages 416
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CPI report is good news for mortgage rates

Housing Wire

The massive inflation and double-digit mortgage rates of the 1970s and early 1980s seem to haunt the Federal Reserve , which wants to cool the economy and even provoke a job-loss recession to avoid that scenario. How did mortgage rates react? 27 , I made the case for lower mortgage rates and bond yields in 2023.

Mortgages 536
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Colonial Savings to exit mortgage origination business

Housing Wire

The company will focus on full-servicing banking and mortgage servicing businesses, it announced on Thursday. The origination activity will cease effective July 31, 2023, but all outstanding mortgage loans will continue to be serviced in accordance with the terms and conditions of the agreements.

Mortgages 380
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The Real Estate Pulse: Analyzing the 2022 Housing Market

Speaker: Grier Allen, CEO and Co-Founder of BoomTown

And while the seller’s market continues to shape 2022, real estate experts predict significant changes in inventory, mortgage rates, home prices, and buyer’s checklists. For real estate professionals, 2021 was an iconic year. It can be difficult to navigate these constant shifts.

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Guild Mortgage acquires Cherry Creek Mortgage

Housing Wire

Retail lender Guild Mortgage announced the acquisition of Cherry Creek Mortgage , a privately-held Colorado-based lender with 68 branches in 45 states. Established in 1987, Cherry Creek offers a wide range of mortgage products including conventional, FHA, VA USDA, USDA, reverse mortgages and home renovation loans.

Mortgages 359
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Mortgage rates trend down amid lower monetary, fiscal pressures 

Housing Wire

Mortgage rates jumped last week amid a debt ceiling impasse and expectations of another federal funds rate hike. In the housing market, Freddie Mac ‘ s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the weekly rate increase. trillion U.S.

Mortgages 355