Mortgage rates moved down another four basis points this week, as the markets anticipated the 25 basis point increase the Federal Open Market Committee announced on Wednesday. The Freddie Mac Primary Market Survey for Feb. 2 found the average for the 30-year fixed rate mortgage at 6.09%, down from 6.13% one week prior. The 15-year … [Read more…]
Wells Fargo kept Chief Executive Charlie Scharf’s pay at $24.5 million for 2022, a year in which both profit and stock tumbled and the bank continued to grapple with the fallout from a raft of scandals. Charles Scharf. Al Drago/Bloomberg Scharf’s package comprised $2.5 million of salary and $22 million in incentives, according to a … [Read more…]
How low will mortgage rates go in 2023? We asked lenders and analysts to share their forecasts.