Technology

The 30-year fixed mortgage rate tied the all-time low at 3.59 percent, down one basis point from last week, according to a Zillow report released Tuesday. The real estate Web site also found the 15-year fixed-rate mortgage averaging 2.95 percent, while rates for 5-year and 1-year adjustable-rate mortgages hovered at 2.6 percent. The last time Zillow reported the same low mortgage rate was May 18. New York and Illinois both saw base points decrease by 9 and 11 points respectively.

Home prices across the nation rose in April, and a further increase is expected for May's index, according to CoreLogic's April Home Price Index report. The report, released Tuesday, showed that home prices in the United States increased in on a year-over-year basis by 1.1 percent in April. This was the second consecutive year-over-year increase in 2012 and the first time two consecutive increases have occurred since June 2010. On a month-over-month basis, home prices increased by 2.2 percent in April, marking the consecutive month-over-month increase this year.

SharperLending LLC, a technology provider for the mortgage industry, announced Thursday that it has re-designed one of its key products, its Appraisal Firewall. The new version of the firewall allows for more integration between appraisers and lenders.

PropertyInfo Corp., a Stewart company, announced Thursday an upgraded driver that allows for more efficient and streamlined online document management with several new and enhanced features.

Lending solutions provider Wipro Gallagher Solutions announced Wednesday the results of a third-party scalability test of its loan origination system, NetOxygen, at levels of 10,000 to 20,000 users.

McDonald Computer Corporation, a mortgage servicing software provider based in Southfield, Michigan, announced Tuesday the celebration of its 36th anniversary.

Investors helped keep interest rates for mortgage loans in record-low territory this week, as European Union leaders grappled with lurking debt crises in Spain and Italy. Real estate Web site Zillow recorded the 30-year fixed-rate mortgage at 3.6 percent, just above an all-time low of 3.59 percent set two weeks before. Rates for 15-year loans averaged 2.91 percent, while those for 5-year and 1-year adjustable-rate mortgages hovered at 2.54 percent. Rates for 30-year fixed-rate loans largely fell in most states, climbing only in Illinois, New York, and Washington.

A task force created by the Obama administration to crack down on residential mortgage-backed securities misconduct recently went live with a new website for whistleblowers. The Residential Mortgage-Backed Securities Working Group established the online portal for those willing to air grievances about misconduct in the packaging and sale of mortgages into securities at financial institutions. The Justice Department launched the RMBS Working Group earlier this year to look into allegations of misconduct.

Brokers will have a new resource to tap into, with the launch of United Wholesale Mortgage's Elite program. The mortgage lender will use the new product to offer broker's access to the best conventional rates and pricing in the industry, according to a company statement.

Seeking to provide industry insight into the borrowers' perspective when purchasing a mortgage, eLynx has revealed the findings from its recent panel discussion with lenders and customers. To conduct its survey, eLynx, a portfolio company of American Capital, assembled an advisory group that included both lending professionals and borrowers, tapping the participants for feedback on the initiatives that could improve the mortgage loan experience and reduce stress during the process.