Are Mortgage Rates Going to 5.99% or 7% Next?
It’s no secret mortgage rates are falling. I’ve argued they never really stopped falling since the 30-year fixed hit 8% back in late 2023. But… Read More »Are Mortgage Rates Going to 5.99% or 7% Next?
Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.
I’ve been covering the mortgage industry since 2006, at a time when scores of banks and lenders were closing their doors after some very big boom years.
In fact, you can see my ongoing list of mortgage layoffs and closures if you’re curious just how many companies didn’t survive that period.
Fortunately, the climate has improved considerably since then, despite a big uptick in mortgage rates lately.
This too has led to companies merging or folding entirely, though this time around due to a lack of volume as opposed to an increase in loan defaults.
I strive to write compelling mortgage news stories, whether it’s the top lenders for a given year, a novel mortgage product, new loan limits, or a big policy change.
You can see all my latest mortgage news posts below.
FHA Layoffs: 40% of Staff to Be Let Go in Latest Government Cuts
Less than a week after a task force was launched to “eliminate waste, fraud, and abuse” at HUD, it appears nearly half of the Federal… Read More »FHA Layoffs: 40% of Staff to Be Let Go in Latest Government Cuts
RocketRentRewards Offers 10% Back on Rent to Use Toward Closing Costs on a Home Purchase
In a bid to help more renters make the leap to homeownership, Rocket Mortgage has launched a new program called “RocketRentRewards.” As the name suggests,… Read More »RocketRentRewards Offers 10% Back on Rent to Use Toward Closing Costs on a Home Purchase
Better Forever Program Waives Loan Origination Fees for Life
A new loyalty program has been launched by Better Mortgage that waives loan origination fees for life. Known as the “Better Forever Program,” it rewards… Read More »Better Forever Program Waives Loan Origination Fees for Life
Down Payment Assistance Programs May Be Affected by Federal Funding Pause
While it appears that Trump’s funding freeze won’t affect home buyers who use a government-backed mortgage, there’s now another concern. It came to my attention… Read More »Down Payment Assistance Programs May Be Affected by Federal Funding Pause
Trump’s Funding Freeze Causes Uncertainty for Government-Backed Mortgages
Yesterday, President Trump released a memo calling for the temporary pause of grants, loans, and other financial assistance programs. The executive order was intended to… Read More »Trump’s Funding Freeze Causes Uncertainty for Government-Backed Mortgages
WaFd Bank Exits Single-Family Mortgage Lending Business
Welp, another day in 2025, another mortgage lender calling it quits. This time it’s depository Washington Federal Bank, or WaFd for short. The Seattle-based bank,… Read More »WaFd Bank Exits Single-Family Mortgage Lending Business
Fannie, Freddie, FHA, and Chase Announce Mortgage Relief for LA Wildfire Victims
While the Los Angeles wildfires are still ongoing, some mortgage relief options are beginning to roll out. This morning, both Fannie Mae and Freddie Mac… Read More »Fannie, Freddie, FHA, and Chase Announce Mortgage Relief for LA Wildfire Victims
Ally Financial Calls It Quits on Mortgage Lending, Will Lay Off Staff
Well, 2025 is off to a rough start with one fairly large mortgage lender calling it quits already. Ally Financial is reportedly done with mortgage… Read More »Ally Financial Calls It Quits on Mortgage Lending, Will Lay Off Staff
New Rule Removes Medical Bills from Credit Reports, Could Lead to 20K More Mortgage Approvals Annually
The Consumer Financial Protection Bureau (CFPB) has finalized a rule that will remove medical debts from consumer credit reports. In doing so, Americans’ credit scores… Read More »New Rule Removes Medical Bills from Credit Reports, Could Lead to 20K More Mortgage Approvals Annually