The average rate for a 30-year fixed-rate mortgage hit yet another record low this week, at 2.71% – the lowest ever recorded by Freddie Mac’s Primary Mortgage Market Survey, which dates back to 1971. That’s down from 2.72% last week and down from 3.68% a year ago. However, due to low inventory, home sales have “hit a wall,” says Sam …

American Property Guard (APG), a LERETA company, recently expanded coverage of tax certificates for title companies, mortgage originations and servicers to all 50 states. The expanded coverage features the same reliable service, rapid turn times and special national pricing. “This expansion allows us to share our proven services nationally, giving more companies the opportunity to enjoy the efficiencies of our …

Mortgage application volume dipped 0.6% on an adjusted basis during the week ended Nov. 27, as the average rate for a 30-year fixed-rate mortgage remained unchanged at 2.92%, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Applications for refinances decreased 5% from the previous week while applications for purchases increased 9%. Year over year, applications for refinances were …

The Federal Housing Finance Agency (FHFA) says Fannie Mae and Freddie Mac have been directed to extend their moratoria on single-family foreclosures and real estate owned (REO) evictions until at least Jan. 31, 2021, in the face of the continuing coronavirus national emergency. The moratoria were set to expire on December 31. The foreclosure moratorium applies to GSE-backed single-family mortgages …

Black Knight Inc. says its Optimal Blue product, pricing and eligibility engine has been enhanced to fully support the pricing of home equity lines of credit (HELOCs) for the secondary mortgage market. The company notes that the new functionality includes premier search capabilities for first- and second-lien HELOC products that eliminate manual workarounds and automate associated workflows within the pricing …

Flagstar Bank has announced the second cohort of startups to participate in the Flagstar MortgageTech Accelerator program. The three companies are Home Lending Pal, Stavvy and RealKey. The Flagstar MortgageTech Accelerator focuses on startups active in developing innovative technology solutions for the mortgage industry. It is the first and only accelerator program in the United States exclusively dedicated to mortgage …

The share of mortgage loans in COVID-19-related forbearance plans increased for a second straight week during the week ended Nov. 22, according to the Mortgage Bankers Association’s (MBA) Forbearance and Call Volume Survey. As of last week, roughly 5.54% of loans in mortgage servicers’ portfolios were in forbearance, up six basis points from 5.48% the previous week. The MBA estimates …

Due to heightened demand and ongoing supply constraints, U.S. home prices increased 1.1% in October compared with September and were up 7.3% compared with October 2019, according to CoreLogic’s Home Price Index. However, CoreLogic is forecasting that home price appreciation will slow in the months to come, due mainly to increased home construction, which should boost inventory and alleviate supply …