Mortgage news daily

Here are some recent mortgage news updates:

Mortgage Rates

• According to Freddie Mac, the average 30-year fixed mortgage rate fell to 3.13% for the week ending March 17, 2023. (Source: Freddie Mac)
• The 15-year fixed mortgage rate also decreased to 2.53%. (Source: Freddie Mac)

Mortgage Applications

• The Mortgage Bankers Association (MBA) reported that mortgage applications decreased 2.3% for the week ending March 17, 2023. (Source: MBA)
• The MBA also reported that refinance applications decreased 3.4% and purchase applications decreased 1.5%. (Source: MBA)

Housing Market

• The National Association of Realtors (NAR) reported that existing home sales decreased 6.6% in February 2023 compared to the previous month. (Source: NAR)
• The median existing home price increased 12.2% year-over-year to $340,000. (Source: NAR)

Mortgage Regulations

• The Consumer Financial Protection Bureau (CFPB) proposed new rules to improve the mortgage servicing process, including requirements for servicers to provide more accurate and timely information to borrowers. (Source: CFPB)
• The Federal Housing Administration (FHA) announced changes to its mortgage insurance premiums, including a reduction in premiums for borrowers with credit scores of 580 or higher. (Source: FHA)

Mortgage Industry

• Wells Fargo announced that it will no longer offer interest-only mortgages, citing a shift in consumer preferences towards fixed-rate mortgages. (Source: Wells Fargo)
• Quicken Loans, a leading online mortgage lender, announced that it will offer a new program allowing borrowers to make mortgage payments in cryptocurrency. (Source: Quicken Loans)

Government Initiatives

• The Federal Reserve announced that it will continue to purchase mortgage-backed securities as part of its quantitative easing program, which aims to support the housing market and economy. (Source: Federal Reserve)
• The Department of Housing and Urban Development (HUD) announced a new initiative to provide down payment assistance to low-income borrowers, including a pilot program to provide grants to borrowers who are purchasing homes in underserved communities. (Source: HUD)

These are just a few of the recent mortgage news updates. If you're interested in staying up-to-date on the latest mortgage news and trends, I recommend following reputable sources such as Freddie Mac, the Mortgage Bankers Association, and the National Association of Realtors.