First Guaranty Mortgage Corporation Cuts 80 Percent Of Staff
Power buyer Orchard also reportedly laid off about 100 employees amid market slowdown
Power buyer Orchard also reportedly laid off about 100 employees amid market slowdown
The total number affected will be more than 1,000 workers, with about half moved to different divisions
A number of fixed mortgage rates declined, including the average interest rates for both 15-year and 30-year fixed mortgages
Too soon to feel the impact of this week’s Fed hike, mortgage and refis were on the rise again
Compared to the month prior, apps were down 4 percent
Demand is down to its lowest levels in two decades—and double-digit basis point increases only add fuel to the fire
Applications for purchase mortgages are down 21 percent annually, while refi demand is down 75 percent
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The party’s over in terms of the mortgage rate slide, with the average 30-year fixed hitting 5.39 percent this week
Rates are now closer to 2018 levels than the historic lows seen during the height of the pandemic
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