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Mortgages

Housing is hot, and LA mortgage broker sees no sign of a slowdown

by Kai Ryssdal and Andie Corban
Apr 29, 2021
Vivian Gueler of Pacific Trust Group says demand for housing in Los Angeles is outpacing supply, thanks largely to low interest rates.
Justin Sullivan/Getty Images
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COVID-19

CFPB warns lenders of "tidal wave" of distressed mortgages

by Kimberly Adams
Apr 5, 2021
But homeowners are in a better position to avoid foreclosure than they were in the last crisis.
As of January, more than 2.7 million people were still in the programs to put mortgage payments on hold during the pandemic, the Consumer Financial Protection Bureau says.
Nicolas Kamm/AFP via Getty Images
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COVID-19

Will borrowing get more expensive for consumers as the economy recovers?

by Amy Scott
Mar 5, 2021
Interest rates on 30-year mortgages have started climbing.
This week, Freddie Mac said the average interest rate for a 30-year fixed-rate mortgage climbed above 3% for the first time since July.
phototechno via Getty Images
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Race and Economy

JPMorgan Chase promises $30 billion to address racial wealth gap

by David Brancaccio , Nova Safo and Alex Schroeder
Oct 8, 2020
Some of the initiative is philanthropic, but most of it is lending with an expected return for the bank.
"We can do more and do better to break down systems that have propagated racism and widespread economic inequality, especially for Black and Latinx people," JPMorgan Chase Chairman and CEO Jamie Dimon said.
Alex Wroblewski/Getty Images
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"It's been busier than ever": What's behind LA's real estate resurgence

by Kai Ryssdal and Bennett Purser
Sep 17, 2020
The pandemic has surprisingly become a busy time for this mortgage broker.
Joe Raedle/Getty Images
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The housing market's a rare bright spot in a struggling economy

by Justin Ho
Jul 22, 2020
Low mortgage rates and high demand are good news for homeowners.
A for-sale sign outside a house. Sales of existing homes jumped in June.
Eric Baradat/AFP via Getty Images
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Low mortgage rates spur many to refinance

by Justin Ho
Jul 17, 2020
Mortgage finance company Freddie Mac says rates on 30-year fixed mortgages fell below 3% for the first time in 50 years.
Mortgage finance company Freddie Mac says rates on 30-year fixed mortgages fell below 3% this week. For some people, that's a chance to refinance.
Win McNamee/Getty Images
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Race and Economy

Black applicants are more likely to be denied mortgages, study finds

by Amy Scott
Jun 26, 2020
And that's one reason for the persistent homeownership gap.
A house for sale in Seattle. Black homeownership rose slightly in 2019, but mortgage denial rates were still much higher — 16% for Black applicants compared to 7% for white borrowers.
Stephen Brashear/Getty Images for Redfin
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COVID-19

As unemployment skyrockets, so do mortgage loan delinquencies

by Jasmine Garsd
May 21, 2020
April saw the biggest one-month jump in U.S. home loan delinquencies ever.
More than 3.8 million mortgage holders, 7.3% of all home loans, have already entered into forbearance plans as of April 30.
Frederic J. Brown/AFP via Getty Images
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COVID-19

As buyers return to the housing market, there aren't enough homes for sale

by Amy Scott
May 13, 2020
And getting a mortgage is harder, too.
A for-sale sign outside a house. Sales of existing homes jumped in June.
Eric Baradat/AFP via Getty Images
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