Lower rates helped Detroit-based Rocket Companies, the parent of Rocket Mortgage, improve its originations in the first quarter of the year — a period also marked by the announcement of two major acquisitions in Redfin and Mr. Cooper.
Despite a slowdown in overall Home Equity Conversion Mortgage (HECM) volume in the first quarter of 2025, Longbridge Financial contributed positively to parent company Ellington Financial.
Overall performance at Ellington saw $31.6 million in net income to common stockholders, up from $22.4 million the prior quarter. Longbridge posted a net loss of $1 million for the quarter.
Nearly 30% of U.S. homeowners would consider tapping their home equity via products like a home equity line of credit (HELOC) due to ongoing concerns about the economic climate, stemming from a rise in volatility and uncertainty over the past three years.
This comes from survey data collected by MeridianLink, a software vendor for the financial services and consumer reporting industries.
An analysis released Thursday by MortgageResearch.com suggests that the average new college graduate likely won’t be able to afford a home until April 2034 — nearly 10 years after graduation — due to a triple burden of surging home prices, student loan debt and modest entry-level salaries.
Today’s best loan officers operate differently and expect more.
The U.S. Department of Agriculture (USDA)’s Rural Housing Service (RHS) has implemented a final rule that allows for the financing of manufactured homes through the RHS Single Family Housing (SFH) Direct Loan Program and the SFH Guaranteed Loan Program.
Mortgage lenders and prospective borrowers looking for relief from high interest rates will need to wait longer. In a widely expected decision on Wednesday, the Federal Reserve kept rates steady at a range of 4.25% to 4.5% following its two-day meeting.
Geoff Black spoke to a former client last week who was looking to purchase a newly built home. She was a “responsible” borrower but made a mistake: she had lost track of her student loan payments and was 60 days late.
In 2025, despite a lot of negative economic headlines, mortgage purchase application data has shown positive year-over-year growth for 14 consecutive weeks. In today’s MBA purchase application survey, this data reflected an 11% increase week over week and a 13% increase year over year, indicating resilient market performance.
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.
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