Fintech companies RockTop Technologies and Liquidify on Thursday announced a milestone in their business partnership that was formed earlier this year. RockTop is a solutions-as-a-service company committed to enhancing yields for institutional investors, asset managers and other participants in the fixed income and mortgage markets, and currently has over $60 billion in unpaid principal balances (UPB) on its data management platform. At the same time, LiquidFi, an asset tokenization platform for mortgage investors, used its patented technology to create digital assets for over $7.7 billion in UPB. “The two companies are working together to realize the vision of a fixed…
Author: Private Lending Agent
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LOS ANGELES (AP) — The average interest rate on a 30-year mortgage fell slightly this week, providing some relief to homebuyers facing record high prices.Mortgage buyer Freddie Mac said Thursday that interest rates fell to 6.89% from 6.95% last week. The average was 6.96% a year ago.The average interest rate has mostly hovered around 7% this year, more than double the rate just three years ago. Rising mortgage rates can cost borrowers hundreds of dollars more each month, deterring many from buying a home this year and bringing the U.S. housing recession into its third year.Borrowing costs for 15-year fixed-rate…
Editor's note: We earn commission from Forbes Advisor partner links. Commissions do not influence our editors' opinions or ratings. If you're interested in opening a new savings account, America's largest banks have a few options to consider: Chase Bank offers two savings accounts that help earn interest on the money you deposit: the Basic Account and the Premium Account. But don't expect more than a small amount of interest. Chase savings account rates are comparable to those of other big banks, but they don't come close to those of online banks. If you're considering saving with Chase, here's a closer…
The average rate on a 30-year mortgage has hovered around 7% this year after surging to a 23-year high of 7.79% in October. Five years ago, it was 3.75%. David Zarbowski/Associated Press, FileWASHINGTON (AP) — U.S. inflation fell for a third straight month in June, signaling that the worst price surge in four decades is steadily tapering off and that interest rate cuts by the Federal Reserve may be coming soon.The Labor Department reported Thursday that the consumer price index was flat last month but fell 0.1% from May to June, better than expected, marking the first monthly decline in…
WASHINGTON (AP) — U.S. inflation fell for a third straight month in June, signaling that the worst price surge in four decades is steadily tapering off and that interest rate cuts by the Federal Reserve may be coming soon.The Labor Department's consumer price index released Thursday beat expectations, showing it was flat last month but fell 0.1% from May to June, the first monthly decline in inflation since May 2020, when the pandemic crippled the economy. Also, compared to a year ago, prices were up 3% in June, slower than the 3.3% annualized rate in May. The latest inflation reading…
The average interest rate on a 30-year mortgage fell slightly this week, providing some relief to homebuyers facing record-high home prices.Mortgage buyer Freddie Mac said Thursday that interest rates fell to 6.89% from 6.95% last week. The average was 6.96% a year ago.The average interest rate has mostly hovered around 7% this year, more than double the rate just three years ago. Rising mortgage rates can cost borrowers hundreds of dollars more each month, deterring many from buying a home this year and bringing the U.S. housing recession into its third year.Borrowing costs for 15-year fixed-rate mortgages, popular among homeowners…
As consumer prices fell for the first time in four years and home prices declined in some markets, the average 30-year fixed-rate mortgage followed suit, falling to 6.89% this week from 6.95% last week, according to Freddie Mac's latest Primary Mortgage Market Survey® (PMMS®) released Thursday. Let's take a look at this week's numbers: The average yield on a 30-year fixed rate loan is 6.89% as of July 11, 2024, down from last week's average yield of 6.95%. At the same time a year ago, the average yield on a 30-year fixed rate loan was 6.96%. The average yield on…
Mortgage rates fell this week, but further declines are expected after the benchmark 10-year Treasury yield fell 31 basis points since the beginning of the month.It's down compared to last year, but not by a large margin.The average for a 30-year fixed-rate loan was 6.89% as of Thursday morning, down from 6.95% on July 3 and 6.96% for the same week in 2023, according to Freddie Mac's Primary Mortgage Market Survey.Meanwhile, the average yield on a 15-year fixed-rate loan was 6.17%, down from 6.25% last week and 6.30% a year ago.Last week's PMMS was released a day early due to…
With the labor market showing signs of softening and the Federal Reserve expressing concern, the first rate cut in 2024 is becoming more likely. However, despite progress in inflation control since 2022, the 10-year Treasury yield remains above 4%. The Federal Reserve has remained resolutely cautious, and there has been no significant change in that stance, leaving the decision to the Federal Reserve. However, today's result is a victory, and we await tomorrow's Producer Price Index (PPI) inflation report. From the BLS: The U.S. Bureau of Labor Statistics announced today that the All Urban Consumer Price Index (CPI-U) fell 0.1%…