Mortgage Industry News
NewDay USA Debuts Product That Covers Closing Costs for Veterans and Servicemembers
NewDay USA said this new product will allow veterans to “compete like cash buyers and close in as few as 15 days.” Continue Reading NewDay USA Debuts Product That Covers Closing Costs for Veterans and Servicemembers
Robinhood Teams with Sage Home Loans on New Mortgage Offer
The new offer was first piloted during the summer to a small group of Robinhood Gold subscribers. Continue Reading Robinhood Teams with Sage Home Loans on New Mortgage Offer
Mortgage Application Activity Slows Down
The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 5.1% on a seasonally adjusted basis from one week earlier. Continue Reading Mortgage Application Activity Slows Down
Single-Family Housing Starts Down 2.1%
Single-family housing completions in April were at a rate of 943,000, down 8% from the revised March rate of 1.02 million. Continue Reading Single-Family Housing Starts Down 2.1%
Mortgage Rates Inch Up
The 30-year fixed-rate mortgage averaged 6.81% as of May 15. Continue Reading Mortgage Rates Inch Up
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...
Recent Posts
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