Mortgage Industry News
Mortgage Rates Decline for Fifth Straight Week
The 30-year fixed-rate mortgage averaged 6.67% as of July 3. Continue Reading Mortgage Rates Decline for Fifth Straight Week
Fairway Independent Mortgage Changes Its Name
The newly named Fairway Home Mortgage will highlight the tagline “All Roads Lead Home.” Continue Reading Fairway Independent Mortgage Changes Its Name
Mortgage Application Activity Soars by 33%
The Refinance Index increased 44% from the previous week and was 22% higher than the same week one year ago. Continue Reading Mortgage Application Activity Soars by 33%
Georgia Woman Pleads Guilty for Role in 3-Year Mortgage Fraud Scheme
Kimberly Johnson is scheduled to be sentenced on April 11. Continue Reading Georgia Woman Pleads Guilty for Role in 3-Year Mortgage Fraud Scheme
Mortgage Credit Availability Inched Up in December
The MBA’s Mortgage Credit Availability Index (MCAI) was up by 0.7% to 96.6. Continue Reading Mortgage Credit Availability Inched Up in December
Dallas Housing Market Will Surge in 2024, Says NAHB Economist Rob Dietz at Home Builders Summit
Source: Candy's Dirt --- The country is already in the midst of a “mild recession,” but local job growth is outstanding and inflation has peaked, an economist told Dallas builders last week. National Association of Home Builders Chief Economist Rob Dietz emphasized...
Looking for an Owner-Financed Home? 5 Things to Avoid
Source: The Ascent --- There are at least two good reasons a potential home buyer may turn to owner financing. Perhaps their credit score is not high enough to qualify for a traditional mortgage, or they're hoping to buy time to save for a larger down payment but want...
Mortgage Rates Need Another Push to Keep Plunging
Source: The Wall Street Journal --- The pressure is finally coming off mortgage rates. Amid the market’s huge reaction last week to the better-than-feared inflation print, and what it could signal about the direction of the Federal Reserve’s monetary policy, a widely...
4 Ways Rent-to-Own Can Help You Buy a House
Source: The Ascent --- Although home prices in some regions of the country have softened, the median price of a single-family home still rings in at just under $385,000. With mortgage rates hovering around 7%, the monthly payment alone pushes many would-be home buyers...
The Latest Inflation Numbers Are Good News for Mortgage Rates
Source: Money --- Hope for relief from rapidly rising mortgage rates was revived this week when October inflation numbers came in lower than expected. Consumer prices continued to increase last month but at a slower pace than at any other point this year. The latest...
If the value of your home is depreciating, you could have an upside down mortgage — here’s what you should know
Source: CNBC --- Buying a home often seems like a promising strategy to build wealth since your monthly mortgage payments can help you build equity, and home values typically appreciate over time. However, sometimes due to housing market conditions, your home’s value...
Q&A: What Data Tells Us About Rural Housing Cost Burdens
Source: The Daily Yonder --- Lance George is the Housing Assistance Council’s director of research and information, an arm of that nonprofit which seeks to generate and improve access to reliable data about rural housing trends nationwide. Since 2020, a lot of airtime...
How will rising interest rates impact housing market in 2023? Experts weigh in
Source: Fox 10 Phoenix --- LOS ANGELES - During the height of the COVID-19 pandemic, the Federal Reserve kept interest rates historically low, and this meant a home buyer could borrow money at an incredibly low rate. Now, experts say the housing market looks...
Homeowners lost more than a trillion dollars in equity
Source: Axios --- The housing market has returned to earth. Home sellers can't just name a price and expect buyers to pay; meanwhile over a trillion dollars in wealth in the form of home equity has evaporated. Why it matters: Think of this less as a crash and more as...
How to Financially Prepare for Buying a House
Source: U.S. News --- Getting to a point where you feel emotionally and mentally ready to buy a house can be a journey on its own. But your work doesn't stop there. Most homebuyers don't have a lump sum they can use to buy a home in one cash payment. Instead, buyers...
