Lenders witness surge of mortgage demand last week
Friday, May 9th, 2025
It’s probably too early to get excited, but several lenders reported that mortgage demand climbed to 2022 levels this week.
Fed holds rates steady as it remains in wait-and-see mode
Wednesday, May 7th, 2025
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.
Refinance closing costs vary sharply by state
Tuesday, May 6th, 2025
The average closing costs for a refinance mortgage in the U.S. totaled $2,403 last year, or about 0.72% of the loan amount, according to a new report from LodeStar Software Solutions.
The findings mark the company’s first analysis of refinance-specific closing costs. Closing fees ranged widely by location and are influenced largely by state and local taxes.