Mortgage applications increased 11% from one week earlier amid a decline in rates, according to data from the Mortgage Bankers Association’s (MBA) weekly mortgage applications survey for the week ending May 2, 2025.
The index increased 12% on an unadjusted basis compared with the previous week.
After a series of severe winter storms and flooding in Virginia that compounded damage sustained from Hurricane Helene last fall, President Donald Trump recently issued a major disaster declaration.
Now the U.S. Department of Housing and Urban Development (HUD) is moving to make disaster aid available for those with Federal Housing Administration (FHA)-insured mortgages.
Recognizing the rising prevalence of phishing scams — where a bad actor will seek to trick a target into revealing sensitive personal or financial information through fake websites, emails or text messages — the Federal Housing Administration (FHA) has announced it is implementing anti-phishing multifactor authentication (MFA) into FHA Catalyst (FHAC).