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Q4 Lending Down While Refinance Activity Rises
Lenders issued $568 billion worth of residential mortgages in the fourth quarter. Continue Reading Q4 Lending Down While Refinance Activity Rises
Mortgage Application Activity Slows Down
The Refinance Index decreased 4% from the previous week and was 45% higher than the same week one year ago. Continue Reading Mortgage Application Activity Slows Down
Additional Reading: Top Mortgage Industry News & Headlines
Mr. Cooper Pays $1.4 Billion For Flagstar’s Mortgage Operations
The acquisition encompasses Flagstar’s MSRs, advances, subservicing contracts, and a third-party origination platform. Continue Reading Mr. Cooper Pays $1.4 Billion For Flagstar’s Mortgage Operations
MBA: Homebuyer Affordability Conditions Improve
The national median mortgage payment for conventional loan applicants in June was $2,180. Continue Reading MBA: Homebuyer Affordability Conditions Improve
Rocket Mortgage Tops Mortgage Servicer Satisfaction Study for 10th Straight Year
The study is based on responses from 15,020 customers who have been with their current mortgage loan servicer for at least one year. Continue Reading Rocket Mortgage Tops Mortgage Servicer Satisfaction Study for 10th Straight Year
Are we seeing a mortgage rate lockdown?
Source: Housing Wire --- The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because we...
Bridge to let: Everything you need to know
Source: Mortgage Introducer --- Bridge to let mortgages work well for homebuyers who would be unable to afford a property using a traditional mortgage. But what is bridge to let finance? Who does bridge to let work best for and what are the main advantages? Here is...
Fixed-rate mortgage bomb set to go off
Source: Elite Agent --- Thousands of borrowers on fixed-interest home loans are facing an interest rate “cliff” and could be plunged into mortgage stress by the end of the year. According to Finder, $29.8 billion worth of fixed-rate mortgages are due to expire by the...
Should I pay off my mortgage or use the money for a deposit on a second property?
Source: The Guardian --- Q I’m a 42-year-old full-time professional and in a rather fortunate but tricky situation, which I would like your help with. My seven-year fixed-rate mortgage is coming to an end on 2 May 2023, after which I am not sure whether I should...
The 7 Best Reverse Mortgage Alternatives
Source: Entrepreneur --- Reverse mortgages let older homeowners cash out their home equity without selling their residences or taking on debt payments. However, the loans have costs and eligibility restrictions that can cause other solutions to be more favorable. If...
Citi to Expand Program Making Homeownership More Attainable
Source: The Motley Fool --- Buying a home can be challenging for low- and moderate-income mortgage applicants for a number of reasons. First, those who don't earn a lot of money often struggle to come up with funds for a down payment. Also, mortgage applicants with...
Home prices are falling in these 98 major housing markets—only 50 markets remain at the peak
Source: Fortune --- Not long after mortgage rates spiked this spring, the U.S. housing market slipped into what the industry likes to call a housing recession. It means housing activity levels, like home sales, are contracting sharply. That’s hardly surprising:...
5 things to consider if you’re choosing between a 15-year and a 30-year mortgage
Source: CNBC --- One of the most important parts of taking on a mortgage to buy a house is making sure the terms of the loan best suit your financial needs. Not only does this involve securing the lowest interest rate possible, it also means choosing the right...
Liz Weston: Should you tap your home equity as real estate values rise?
Source: Oregon Live --- Soaring real estate values mean many homeowners are awash in equity — the difference between what they owe and what their homes are worth. The average-priced home is up 42% since the start of the pandemic, and the average homeowner with a...
‘Housing correction’ is coming. What homeowners, buyers and sellers should know.
Source: M Live --- Coming out of the pandemic shutdown lit the match for housing demand, and it’s been burning hot for nearly two years straight — but a housing correction is finally on the horizon. Two-thirds of the nation’s largest housing markets are overvalued,...
