Mortgage Industry News
Q2 Mortgage Delinquency Rate Down Slightly
The delinquency rate was down 11 basis points from the first quarter and down 4 basis points from the second quarter of 2024. Continue Reading Q2 Mortgage Delinquency Rate Down Slightly
Foreclosure Activity Up 13% Year-Over-Year
Lenders started the foreclosure process on 24,302 properties last month, up 12% from June and up 11% from July 2024. Continue Reading Foreclosure Activity Up 13% Year-Over-Year
Mortgage Rates Remain Flat
The 30-year fixed-rate mortgage averaged 6.65% as of March 13, up slightly from last week when it averaged 6.63%. Continue Reading Mortgage Rates Remain Flat
Evergreen Home Loans Expands into New Mexico
The company is opening new branches in Albuquerque and Carlsbad, under the leadership of Area Manager Barry Abt. Continue Reading Evergreen Home Loans Expands into New Mexico
Mortgage Application Activity Up 11.2%
The VA share of total applications increased to 15.9% from 14.6% from the week before. Continue Reading Mortgage Application Activity Up 11.2%
Buying and Selling Real Estate in Brazil (Updated)
Source: JD Supra--- This guide offers an overview of legal aspects of buying and selling real estate in the requisite jurisdictions. It is meant as an introduction to these marketplaces and does not offer specific legal advice. This information is not intended to...
Mortgages Update: Rising Costs Taking Toll On First-Time Buyer Finances
Source: Forbes --- 13 January: Higher Payments And Deposits Making Ownership More Difficult Monthly mortgage payments are taking a larger bite out of typical first-time buyer household outgoings, writes Laura Howard. Monthly mortgage payments now account for 39% of a...
2023 Mortgage Forecast: Rates Expected to Decline
Source: US News --- Mortgage rates are widely expected to fall this year as inflation recedes and the U.S. economy prepares for the possibility of a modest recession, according to some of the nation's leading real estate economists. This comes after mortgage rates...
15-year mortgages – back in the spotlight but are they the right choice?
Source: MPA Mag --- With interest rates rising in light of inflation, some would-be homeowners are eyeing 15-year mortgages in lieu of the traditional 30-year variety to build equity quicker. But one industry veteran urges caution against the option unless one is...
What Real Estate Investors Need to Know About the 2% Rule
Source: Yahoo! --- There are several metrics you can use to evaluate whether a rental property investment has potential, including the 2% rule. The 2% rule in real estate dictates that a property’s rental income should be at least 2% of the purchase price....
The Difference Between a 3% and 7% Mortgage Rate: $1,000 Per Month
Source: NAHB --- As the Federal Reserve continues to fight inflation, mortgage rates increased rapidly in 2022, starting the year at 3% and rising above 7% before dropping back to roughly 6.5% at the end of the year. How do rapidly rising mortgage rates affect housing...
What are mortgage origination fees?
Source: Fortune --- For most prospective home buyers, obtaining a mortgage is an essential part of the home buying process. And getting quotes from multiple lenders in order to ensure you secure the most competitive and affordable mortgage possible is nearly as...
Mortgage Lenders: The 2023 Purchase Market Is Your Moment
Source: Forbes --- It’s time for mortgage lenders to stop comparing 2022 volume and 2023 projections to the refinance-fueled record fundings of 2020 and 2021. The pandemic refi boom is long over, and while home buyers who need mortgages are still absorbing this year’s...
Divvy Homes review
Source: Bankrate --- If you dream of owning your own home but aren’t quite ready for a mortgage, Divvy could be an ideal option. The company’s rent-to-own business model aims to make homeownership more accessible to individuals with past financial challenges or...
Wells Fargo is retreating from the mortgage market it once led
Source: CNN Business --- New York(CNN)Wells Fargo, long one of the biggest players in the mortgage business, is taking a big step back. The scandal-ridden bank announced a significant shift on Tuesday to focus its mortgage business on serving bank customers and...
