FBI Launches Criminal Probe into New York AG Letitia James for Mortgage Fraud
ALBANY, N.Y. — The FBI has opened a criminal investigation into allegations that New York Attorney General Letitia James falsified mortgage records related to property purchases in Virginia and Brooklyn, according to…
Real Estate Developer and Attorney Both Admit to Multimillion-Dollar Mortgage Fraud Scheme
TRENTON, N.J. – A New Jersey real estate developer and attorney each admitted today to conspiring to orchestrate a mortgage fraud scheme that led to over $3.5 million in losses, U.S. Attorney…
Retired Maryland lottery winner says $300k jackpot will go to paying off mortgage
A man who bought multiple lottery tickets with the same number will now have $300,000 to pay off his mortgage. According to the Maryland Lottery, the lucky winner from Prince George’s County.…
U.S. housing starts tumble in October amid soaring mortgage rates
WASHINGTON (Reuters) – U.S. homebuilding fell sharply in October, with single-family projects dropping to the lowest level in nearly 2-1/2 years, as the housing market buckles under the strain of surging mortgage…
U.S. mortgage interest rates drop back below 7% – MBA
(Reuters) – The average interest rate on the most popular U.S. home loan saw its largest single-week decline since July, dropping back to just below 7%, as signs inflation has passed its…
Australian banks ease mortgage norms as property market cools
By Lewis Jackson and Byron Kaye SYDNEY (Reuters) -Two of Australia’s top banks have quietly relaxed some home lending standards, banking and mortgage-broking sources said, despite authorities urging prudence in recent months…
Mortgage Payments Surge 50% Since Last Year As Homebuyers Get Priced Out
Mortgage Payments Surge 50% Since Last Year As Homebuyers Get Priced Out John Hugh DeMastri on November 10, 2022 As mortgage rates climbed, typical monthly mortgage payments on existing single-family homes with…
NZ central bank says river flooding poses bigger risk to lenders’ mortgage portfolios
By Lucy Craymer and Upasana Singh (Reuters) – The Reserve Bank of New Zealand said on Tuesday a preliminary analysis of its climate change stress test indicated that river and surface water…
NZ central bank says river flooding poses bigger risk to lenders’ mortgage portfolios
By Lucy Craymer and Upasana Singh (Reuters) – The Reserve Bank of New Zealand said on Tuesday a preliminary analysis of its climate change stress test indicated that river and surface water…
Mortgage Rates Spike To Highest Level In Over 20 Years
Mortgage Rates Spike To Highest Level In Over 20 Years Bronson Winslow on October 26, 2022 Mortgage rates have continually increased for 10 straight weeks, with current 30-year fixed rates hitting their…
UK banks start cutting ‘Truss premium’ from mortgage rates, but slowly
By Iain Withers and Lawrence White LONDON (Reuters) – Having hiked mortgage rates after political turmoil drove up the cost of borrowing, British banks are now cutting home loan prices, albeit slowly,…
U.S. mortgage interest rates jump to 7.16%, highest since 2001
(Reuters) – The average interest rate on the most popular U.S. home loan rose to its highest level since 2001 as tightening financial conditions weigh on the housing sector, data from the…
High Interest Rates Are Strangling The Mortgage Market
High Interest Rates Are Strangling The Mortgage Market John Hugh DeMastri on October 19, 2022 As mortgage and interest rates skyrocket, demand for new mortgages hit its lowest level in more…
Hungary government expands scheme that caps mortgage rates – govt decree
BUDAPEST (Reuters) – Hungary’s government has expanded its existing scheme that caps mortgage rates effective Nov. 1 to include mortgages carrying fixed interest rates up to 5 years, it said in a…
One in 5 Britons heading for mortgage pain – think-tank
LONDON (Reuters) – One in five families in Britain will take a financial hit from having to pay more for their mortgages between now and 2024 with about a quarter of the…
UK mortgage approvals jump unexpectedly in August: BoE data
LONDON (Reuters) – British lenders approved many more mortgages than expected in August, Bank of England data showed on Friday. Mortgage approvals rose to 74,340 last month, up from 63,740 in July…
UK housing market may face perfect storm as mortgage rates rise, house prices drop
By Andy Bruce, Sinead Cruise and Carolyn Cohn LONDON (Reuters) – A surge in borrowing costs and a likely slowdown in economic growth threaten to trigger a selloff in Britain’s housing market…
U.S. mortgage interest rates jump to 6.52%, highest since mid-2008
(Reuters) – The average interest rate on the most popular U.S. home loan climbed to its highest level since August 2008, data from the Mortgage Bankers Association (MBA) showed on Wednesday. Rising…
Market chaos forces UK lenders to pull mortgage products
By Andy Bruce LONDON (Reuters) -Turmoil in British financial markets forced mortgage lenders to temporarily withdraw and reprice products for new customers on Monday, a real-world consequence of the market volatility thrown…
U.S. mortgage rates rise to 6.29%, highest in 14 years
(Reuters) – U.S. 30-year fixed-rate mortgages rose to 6.29% on Thursday, the highest level since 2008, according to Freddie Mac’s mortgage market survey. Last week, rates averaged 6.02%. A year ago, home…
U.S. mortgage interest rates reach 6.25%, highest level since October 2008
(Reuters) – The average interest rate on the most popular U.S. home loan climbed to its highest level since October 2008, Mortgage Bankers Association (MBA) data showed on Wednesday. Rising mortgage rates…
Analysis-China’s mortgage boycott quietly regroups as construction idles
BEIJING (Reuters) – Two months since many Chinese homebuyers stopped repaying mortgages to protest stalled construction on their properties, a lack of progress at more sites now threatens to intensify the boycott,…
Mortgage Rates Jump Above 6% For First Time Since 2008, Making Buyers Feel The Squeeze
Mortgage Rates Jump Above 6% For First Time Since 2008, Making Buyers Feel The Squeeze John Hugh DeMastri on September 15, 2022 Thirty-year fixed-rate mortgages jumped past 6% for the first time…
U.S. mortgage interest rates top 6% for first time since 2008
(Reuters) – The average interest rate on the most popular U.S. home loan rose above 6% for the first time since 2008 and is now more than double the level it was…
Bay Area Rapper Mark “Kafani” Hicks And Two Co-Conspirators Sentenced To Prison For Multi-Million Dollar Mortgage Fraud Scheme
SAN FRANCISCO – Bay area rapper Mark “Kafani” Hicks, aka Amir Rashad, was sentenced to 87 months in prison for his role in orchestrating a complex loan fraud and identity theft conspiracy,…
Morgan Stanley says rise in interest rates hurts mortgage demand
(Reuters) – Morgan Stanley has seen moderation in loan growth and a lower mortgage demand due to rising interest rates, co-President Andrew Saperstein said in a conference on Tuesday. Decades-high inflation has…
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