Rates and unsold inventory keep builders cautious The 30-year fixed-rate mortgage averaged 6.55% for the week ending July 16 up from 6.49% the prior week, according to Freddie Mac‘s Primary Mortgage Market Survey (PMMS). Odeta Kushi of First American says demographic demand and life events continue to support the housing market, even as higher […]
Rates surged this week to levels not seen in 11 months as the conflict between the U.S. and Iran continued ratcheting up with no resolution in sight, putting renewed upward pressure on energy prices and bond yields. The average rate on 30-year fixed home loans jumped to 6.55% for the week ending July 16, up […]
A couple things are roiling markets at the moment: 1) The release of Kimi K3, a Chinese open source model from Moonshot 2) Rumors that a hedge fund or two are in trouble The two are partly connected. There is talk about Situational Awareness but it could be someone else as Jim Cramer writes: ”[By] […]
Construction of across the U.S. stalled in June as builders continued pulling back due to high mortgage rates, but the multi-family sector roared back to life, the U.S. Census Bureau reported on Friday. Single-family housing starts last month were at a seasonally adjusted annual rate of 895,000, down 0.2% from May and 3.2% compared to a year […]
Rocket Mortgage is refuting the claims brought by a new spam call plaintiff, as consumers continue to churn out complaints against lenders over unwanted mortgage solicitations. Processing Content Ohio resident Noverto Rosado sued Rocket Wednesday in a Michigan federal court after an affiliated loan officer allegedly dialed him over 40 times in May. It’s the […]
Foundation has announced changes to selected products across its buy-to-let (BTL) range, effective today. The updates include rate increases across selected F1, F2 HMO, F2 MUFB, Large HMO, Short Term Let (STL) and Expat fixed rate products. The lender is increasing prices by as much as 0.30% on selected F1 two- and five-year fixed products […]
Key insight: A coalition of state attorneys general is asking federal banking regulators to reject Enova’s proposed acquisition of Grasshopper Bank and OppFi’s proposed purchase of BNC National Bank’s holding company. What’s at stake: The attorneys general warn that if the nonbank lenders are able to buy banks, they could bypass state usury laws and […]
Second charge mortgage new business volumes down 1% by volume and up 9% by value in May 2026, according to figures from the Finance & Leasing Association. There was £175 million of new business agreed in May, with 3,245 new agreements in the month. The three months to May saw £594 million of new second […]
Councils are failing to collect fines issued to rogue and criminal landlords, according to data from the National Residential Landlords Association (NRLA). That is despite an increase in the number of property inspections conducted by local authorities. The statistics, obtained under the Freedom of Information Act show that for councils across England, the number of […]
Latin America has always rewarded banks that can live with complexity. Regional corporate treasures rarely deal with a single challenge: currencies move, politics shift and commodity cycles turn. National champions increasingly find themselves buying assets, raising capital, managing liquidity and hedging risk across borders. That is where Citi’s Latin American franchise has become most valuable. […]