Mortgage applications for new homes are 9% higher than a year ago

Purchase mortgage applications for new homes rose 8.9% year over year in December 2024, according to a report released Friday by the Mortgage Bankers Association (MBA). Application volume decreased by 3% compared to November.MBA’s Builder Application Survey for December monitors application volumes

Chicago-area contractor sentenced to 17 years in prison over reverse mortgage scam

The U.S. Department of Justice (DOJ) announced this week that Mark Steven Diamond, who was accused of “bilking elderly homeowners in a reverse mortgage and home repair scheme,” was sentenced to 17 years in federal prison by the U.S. District Court for the Northern District of Illinois.Diamond was cr

Compass attracts top Connecticut team

Compass is strengthening its presence in the Nutmeg State. On Friday, the largest brokerage in the country by sales volume announced that The Jennifer Leahy Team will be leaving Douglas Elliman to join the Robert Reffkin-helmed firm.Based in Greenwich, Connecticut, the team is led by Jennifer Leahy