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Mortgage Application Activity and Forbearance Levels Go in Decline
The MBA reported the total number of loans now in forbearance decreased to 0.40% as of Jan. 31. Continue Reading Mortgage Application Activity and Forbearance Levels Go in Decline
Rocket Mortgage Debuts Program Offering Closing Cost Credits to Renters
Homebuyers with a Rocket mortgage earn 10% back on the last 12 months of rental payments Continue Reading Rocket Mortgage Debuts Program Offering Closing Cost Credits to Renters
Additional Reading: Top Mortgage Industry News & Headlines
Motto Mortgage Opens First New Hampshire Office
The new office was established by David Duplessis, who brings 35 years of industry experience. Continue Reading Motto Mortgage Opens First New Hampshire Office
Mortgage Application Activity in 4% Upswing
The FHA share of total applications increased to 13.5% while the VA share increased to 15.2%. Continue Reading Mortgage Application Activity in 4% Upswing
Euclid Mortgage Creates Mortgage Advisory Panel
Andrew Bon Salle, Claudia Merkle and Ivy Zelman were named to the panel. Continue Reading Euclid Mortgage Creates Mortgage Advisory Panel
US housing markets are slowing. Is Florida the exception?
Source: Tampa Bay Times --- After two years of near-nonstop growth, housing prices may have finally peaked in some U.S. cities, according to data from Florida Atlantic University. Still, experts predict that Florida’s real estate market will remain strong compared to...
Economist Joseph Stiglitz says there are 3 reasons why further Fed rate hikes might make inflation worse
Source: CNBC --- Federal Reserve officials have spent the last week indicating rate hikes will continue in order to bring down rising prices — but this risks intensifying inflationary pressures, according to a Nobel Prize-winning economist. “The real worry in my mind...
The U.S. housing market downturn will be worse in 2023, forecasts Goldman Sachs
Source: Fortune --- The U.S. entered into its first housing downturn of the post–Great Financial Crisis era. And the worst still awaits. On Tuesday, researchers at Goldman Sachs released a paper titled “The Housing Downturn: Further to Fall.” The investment bank now...
Mortgage Rates Rise to 5.66%, Weighing on Housing Market
Source: US News --- WASHINGTON (AP) — Average long-term U.S. mortgage rates rose to their highest level in two months this week, providing no relief for a slumping housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 5.66% from...
Fed seen sticking to interest rate hikes even as unemployment rises
Source: Reuters --- The Federal Reserve is seen sticking to sharp interest rate hikes in coming months to cool inflation, but rising U.S. unemployment and a slowdown in wage growth has traders betting that borrowing costs next year may not end up quite as high as...
Today’s Jumbo Mortgage Rates
Source: Motley Fool --- If you're looking to buy a home, you'll often hear that it's best to keep your housing costs on the low side so you don't risk overextending yourself. But in some markets, that's just not possible. If you're looking to buy a home in an...
Today’s Mortgage Rates, August 31, 2022 | Average Rate on Cusp of 6%
Source: Time --- In 2022, mortgage rates rose nearly to levels not seen since before the pandemic, after nearly two years of record-low rates. The refinance or purchase of your home doesn’t have to be put on hold. Although rates are higher than they were last year,...
Bank of America aims mortgages, CRE loans at women and minorities
Source: American Banker --- Two new Bank of America lending programs seek to promote homeownership among minority borrowers as well as incentivize economic development in disadvantaged communities. One is a pilot program that would offer mortgages to Black and...
Reverse mortgages: Pros and cons explained
Source: CBS News --- Are you looking for ways to increase your cash flow in retirement? If you own your home (or most of it), a reverse mortgage may be able to help. It can eliminate your existing mortgage payment and generate a regular source of income. However,...
The Real Impact Of A Housing Market Recession
Source: Forbes --- Key Takeaways: A housing market recession occurs when home sales decline for six months straight, which officially happened in July 2022. Two main forces are driving the housing market recession: increasing interest rates and increasing construction...
