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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.

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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.

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Mortgage apps decline as rates hit the 7% mark

Housing Wire

debt ceiling impasse and the resilient economy led mortgage rates to climb to the highest level in two months. The latest MBA data published on Wednesday morning shows that mortgage loan applications decreased 4.6% retail residential mortgage applications. Last week, the U.S. of total applications last week from 6.5%

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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.

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Mortgage rates increase as debt ceiling battle continues

Housing Wire

Mortgage rates increased this week as the debt limit impasse between the Republican-controlled House of Representatives and President Joe Biden ’s White House continues to cause uncertainties within the market. The 30-year fixed rate for conventional loans was 6.70% at Mortgage News Daily as of Thursday morning. debt limit.

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Higher mortgage rates, wider spreads follow debt ceiling impasse

Housing Wire

The debt limit fight between the Republican-controlled House of Representatives and President Joe Biden’s White House is adding pressure to a shrinking mortgage market. Freddie Mac ‘ s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage averaged 6.57% as of May 25, up 18 basis points from last week’s 6.39%.

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Housing Market Tracker: Mortgage rates drop almost 1%

Housing Wire

The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. Mortgage rates started last week at 6.44% and fell to a low of 6.16% , then ended the week at 6.34%.