The Wealthy Are Bringing Big Money and Luxurious Lodges to Maine’s Lakes

CLEARWOOD TECH AND RACHEL SIEBEN FOR WSJ“On a clear day, you can see the top of Mount Washington,” says Joanne Ricciardiello, peering through a curtain of towering oak and pine trees that surrounds her newly built, roughly 4,300-square-foot home on Maine’s Sebago Lake.She walks down a gravel path to

Mortgage delinquency, foreclosure activity point to rising homeowner distress

Sky-high home prices and elevated mortgage rates are putting increasing strain on homeowners. That’s the takeaway from two reports released this week showing that foreclosure activity and mortgage delinquencies are rising.According to the Mortgage Bankers Association (MBA), the second-quarter 2024 d

Mortgage Rates Tick Up to 6.49% but Are Predicted To ‘Trend Down’ This Fall

Realtor.com; Getty Images (1)Mortgage rates inched up, with the average rate for a 30-year fixed home loan going from 6.47% last week to 6.49% for the week ending Aug. 15, according to Freddie Mac.“While rates increased slightly this week, they remain more than half a percent lower than the same tim

UBS sells mortgage servicer to Sixth Street-led investor group

Swiss bank UBS Group AG has decided to sell Credit Suisse’s mortgage servicing company, Select Portfolio Servicing (SPS), to a group of investors led by Sixth Street, HousingWire has learned. Investment firm Davidson Kempner Capital Management is a co-investor. Representatives at Credit Suisse, Davi