Patrick Barnard

2 days ago | mortgageorb.com | Patrick Barnard

Roughly 139,000 new jobs were added to the U.S. economy in May, while the unemployment rate remained unchanged at 4.2%, according to the U.S. Bureau of Labor Statistics. The number of unemployed people stood at 7.2 million, basically flat compared with April. Sectors that saw the strongest job growth included health care, leisure and hospitality, and social assistance. The federal government continued to lose jobs.

2 days ago | mortgageorb.com | Patrick Barnard

U.S. home prices increased 0.6% in March compared with February but were up only 2% compared with March 2024, according to Cotality’s latest home price index report. It was the slowest annual home price growth in more than a decade. Detached single-family homes saw prices rise 2.46% in March compared with a year earlier – however, attached homes posted a decrease of 0.08% annually. It was the first time since 2012 that attached homes decreased in value.

3 days ago | mortgageorb.com | Patrick Barnard

Mortgage rates decreased slightly this week, after four consecutive weeks of increases, with the average rate for a 30-year fixed-rate mortgage falling to 6.85%, according to Freddie Mac. That’s down from 6.89% last week and down from 6.99% a year ago. “The average mortgage rate decreased this week, which is welcome news to potential homebuyers who also are seeing inventory improve and house price growth slow,” says Sam Khater, chief economist for Freddie Mac, in a statement.

3 days ago | mortgageorb.com | Patrick Barnard

Joshua Livingston Joshua Livingston has joined Accurate Group, a provider of digital mortgage solutions, title and valuation services, as chief revenue officer. Livingston has more than 20 years of experience in the mortgage and lending industry. He has held leadership roles across the title, valuation and fintech space, consistently delivering scalable growth through strategic execution and effective team development.

3 days ago | mortgageorb.com | Patrick Barnard

Max Slyusarchuk A&D Mortgage is working to solidify its place in residential mortgage lending by improving its FHA loan programs. Following on the heels of acquiring the conventional and correspondent lending division of Mr. Cooper, the company reports that it is making improvements that benefit borrowers and A&D partners.