Mortgage Industry News
New Home Purchase Mortgage Applications Up 2% in September
The average loan size for new homes increased from $374,288 in August to $379,107 in September. Continue Reading New Home Purchase Mortgage Applications Up 2% in September
Mortgage Application Activity Slows Again
The FHA share of total applications increased to 20.5% from 18.5% the week prior while the VA share of total applications dropped to 14.9% from 16.3%. Continue Reading Mortgage Application Activity Slows Again
Report: Fewer Home Purchase Loans During Q1
ATTOM found the total dollar value of loans was down by 18% to $478 billion. Continue Reading Report: Fewer Home Purchase Loans During Q1
Mortgage Application Activity Slows for Third Straight Week
Among the federal programs, the FHA share of total applications increased to 18.7% from 17.9% the week prior. Continue Reading Mortgage Application Activity Slows for Third Straight Week
Mortgage Rates Inches Up, Homebuyer Affordability Inches Down
The 30-year fixed-rate mortgage averaged 6.89% as of May 29. Continue Reading Mortgage Rates Inches Up, Homebuyer Affordability Inches Down
Today’s best mortgage deal? Look to 15-year rates for greater interest savings | Jan. 17, 2023
Source: Fox Business --- Based on data compiled by Credible, mortgage rates for home purchases have risen across all terms since last Friday. 30-year fixed mortgage rates: 6.625%, up from 6.500%, +0.125 20-year fixed mortgage rates: 6.500%, up from 6.125%, +0.375...
With Rising Interest Rates, Do Adjustable Rate Mortgages Make Sense?
Source: Albany Herald --- As rates on traditional mortgages have risen, a growing number of home buyers are turning to adjustable rate loans in order to save a few dollars. But do buyers risk getting hit with significant increases when that lock expires? Don't let...
Five ways to reduce your mortgage repayments in 2023 – and why rates have risen so high
Source: The Conversation --- Around 4 million UK households will face higher mortgage costs in 2023 with average monthly payments expected to increase from £750 to £1,000. Banks’ lending rates are directly influenced by the Bank of England’s base rate, which rose nine...
Real Estate Rebound: Demand for New Mortgages Jumps 28% in One Week
Source: Yahoo Finance --- The U.S. housing market’s topsy-turvy ride shows no sign of letup in the new year, as mortgage applications rose sharply last week despite fears that home sales will keep sinking in 2023. Mortgage applications for the week ending Jan. 13,...
Buying and Selling Real Estate in Canada – Ontario (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...
Is it good to buy when the housing market crashes?
Source: AS --- Potential homebuyers—and most people—shudder at the phrase “recession.” The 2008 recession devastated the real estate business. Sales fell, houses were foreclosed, and the market collapsed. If you’re smart, purchasing a property during a recession may...
What renovations offer the best returns for home value? | Home Front by Duff Rubin
Source: Herald-Tribune --- Home renovations are in demand. Some homeowners are hesitant to put their homes on the market. They either don’t want to give up a lower mortgage interest rate, don’t want to leave their current neighborhood or have not been able to locate...
The Magic Of LLCs In Real Estate Investing
Source: Forbes --- If you’ve watched my online videos or read my books or blog, you’ve no doubt heard me talk about LLCs in real estate investing. The LLC, in my view, is a fundamental unit of privacy protection and asset protection. LLCs are not the perfect vehicle...
Housing expert: ‘We can expect mortgage rates to go down’
Source: Yahoo! News --- Homebuyers may finally catch a break this year, says one expert, as signs of fading inflation could drive mortgage rates lower as soon as this month. “Mortgage rates have declined by almost a full percentage point since they peaked in...
What’s The Latest With UK Mortgage Rates?
Source: Forbes --- The Bank of England raised interest rates on 15 December from 3.0% to 3.5%. The 0.5 percentage point increase marked the ninth rise since December 2021 when Bank rate stood at just 0.1%. It put the Bank rate at its highest level since 2008 and has...
