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Wells Fargo Ordered to Pay $3.7 Billion for ‘Illegal Activity,’ Including Unjust Seizures and Vehicle Seizures | CNN Business

New York CNN — Federal regulators on Tuesday fined Wells Fargo $1.7 billion for “widespread mismanagement” over several years that harmed more than 16 million consumer accounts. The Consumer Financial Protection Bureau said Wells Fargo’s ‘illegal activity’ included repeatedly mistaken loan payments, improper home foreclosures, illegal repossession of vehicles, incorrect assessment of fees and interest …

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Housing crisis set to continue, but some see encouraging signs | CNN Business

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A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber ? You can register here. New York CNN — Mortgage rates have fallen recently, but are still up from a year ago thanks to soaring long-term bond yields as the Federal Reserve raised interest rates. Although this has …

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Mortgage rates fall for the fourth consecutive week | CNN Business

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CNN — Mortgage rates fell again this week, falling for the fourth week in a row. The 30-year fixed-rate mortgage averaged 6.33% in the week ending December 8, down from 6.49% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, …

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Mortgage rates fall for the second week in a row | CNN Business

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Mortgage rates fell again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending Nov. 23, down from 6.61% the previous week, according to Freddie Mac. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, boosted …

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Home sales in the United States fall for the 9th consecutive month in October | CNN Business

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U.S. home sales fell for the ninth straight month in October as soaring mortgage rates and high prices pushed buyers out of the market. Sales of existing homes — which include single-family homes, townhouses, condominiums and co-ops — were down 28.4% in October from a year ago and 5.9% from September , according to a …

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Mortgage rates plunge, biggest weekly drop since 1981 | CNN Business

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Editor’s note: Freddie Mac, which has tracked weekly average mortgage rates since 1971 and has periodically made changes to its primary mortgage market survey, changed the source of its data effective November 17, 2022. Instead of surveying lenders, weekly results will be based on applications received from lenders that are submitted to Freddie Mac. Learn …

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US house prices continued to lose momentum in August | CNN Business

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US home prices continued to gain ground in August, but the pace of growth slowed significantly as rising mortgage rates pushed more potential buyers out of the market. House prices rose 13% in August from a year earlier, down from the 15.6% growth seen in July and 18.1% in June, according to the National House …

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