Mortgage Industry News
HomeXpress Mortgage Corp. Acquired by Chimera Investment Corp.
HomeXpress will operate as a subsidiary of Chimera under the continuing leadership of President and CEO Kyle Walker. Continue Reading HomeXpress Mortgage Corp. Acquired by Chimera Investment Corp.
Mortgage Rates Remain Mostly Flat
The 30-year fixed-rate mortgage averaged 6.84% as of June 12. Continue Reading Mortgage Rates Remain Mostly Flat
Mortgage Rates Rise Ahead of Christmas
The 30-year fixed-rate mortgage averaged 6.72% as of Dec. 19. Continue Reading Mortgage Rates Rise Ahead of Christmas
CFPB: Mortgage Servicers Preying on Divorced and Widowed Borrowers
The CFPB report also noted that domestic violence survivors face additional problems with servicers. Continue Reading CFPB: Mortgage Servicers Preying on Divorced and Widowed Borrowers
New York State Considers Expanding CRA Law to Cover Nonbank Mortgage Lenders
The proposed regulation tests will take place where the nonbanks are originating loans rather than where they have a physical branch presence. Continue Reading New York State Considers Expanding CRA Law to Cover Nonbank Mortgage Lenders
When Will The Housing Market Bottom? Ryan Frazier Weighs In
Source: Bezinga --- The U.S. housing market is now slowing down after a record-breaking run that saw home values soar to new highs and mortgage rates drop to historic lows. Although demand and price growth are slowing, analysts and housing economists predict that any...
The U.S. Needs More Housing Than Almost Anyone Can Imagine
Source: The Atlantic --- How many homes must the United States’ expensive coastal cities build to become affordable for middle-class and working-poor families again? Over the past few weeks, I asked a number of housing experts that question. I expected a...
October Was a Spooky Month for the U.S. Housing Market
Source: Mansion Global --- Would-be buyers are turning their backs on the turbulent U.S. housing market in droves, according to new data released from Redfin on Monday. The number of pending sales, the amount of deals being scrapped and the proportion of homes seeing...
Mortgage demand rises 2.2% as interest rates decline slightly
Source: CNBC --- Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most...
Reverse mortgages explained
Source: Observer Reporter --- Q. With reference to a recent column in which the reader said she had lost her home to a reverse mortgage, there are two primary ways this can happen, and I want to explain how to avoid this so that it never happens to any other reader....
mortgages Zero-down loans for homebuyers preparing to go expansion route
Source: Insurance News Net --- Nearly a year into a special lending program aimed at underserved homebuyers, the initiative is soon to expand from a few banks to mainstream, nonbanking lenders. Could these good intentions be the beginning of our next lending debacle?”...
Mortgage rates just took the biggest plunge since 1981 — but analysts say the market is ‘not out of the woods yet’
Source: Yahoo! Finance --- Mortgage rates tumbled by their biggest weekly drop in four decades after new data suggested inflation could be starting to cool. Consumer prices rose by 7.7% in October — a slower pace than economists predicted — and the average rate on a...
One-Third of Recent Homebuyers Still Don’t ‘Shop Around’ for Mortgages
Source: Fannie Mae --- For potential homebuyers, obtaining multiple mortgage quotes may not be as exciting as searching for the physical home itself, but research has shown that "shopping around" with different lenders for the best possible mortgage terms can result...
House prices might plunge 20% in the hottest US markets – and the slump could hammer the wider economy, top investor says
Source: Markets Insider --- House prices could plummet 20% in some US cities as soaring mortgage rates scare off buyers, Peter Boockvar has said. Bleakley Advisory's chief investor endorsed the Dallas Federal Reserve's grim forecast in a CNBC interview on Wednesday....
If you think it’s a bad time for mortgages, think again
Source: MPA Magazine --- Like so many others in the mortgage industry, Lamont Harris Jr (pictured), didn’t always think about working in real estate. In fact, he once harbored ambitions of becoming a professional actor after dropping out of college. “I went to...
