Mortgage Industry News
FHFA to Establish Mortgage Fraud Tip Line
“There is no room for fraud in our mortgage markets. None,” said FHFA Director Bill Pulte. Continue Reading FHFA to Establish Mortgage Fraud Tip Line
360training.com Acquires My Mortgage Trainer
360training.com Inc., an online provider of regulatory-approved training and compliance solutions, has acquired My Mortgage Trainer, an NMLS-approved provider of mortgage education and compliance training. The financial terms of the transaction were not disclosed. The...
Mortgage Rates Fall to 19-Month Low
The 30-year fixed-rate mortgage averaged 6.20% as of Sept. 12, down from last week when it averaged 6.35%. Continue Reading Mortgage Rates Fall to 19-Month Low
Mortgage Application Activity and Credit Availability Record Upticks
The Market Composite Index increased 1.4% on a seasonally adjusted basis. Continue Reading Mortgage Application Activity and Credit Availability Record Upticks
Guest Opinion: The CFPB’s Approach to Mortgage Refinancing
CFPB Director Rohit Chopra describes his agency’s approach to regulating mortgage refinancing. Continue Reading Guest Opinion: The CFPB’s Approach to Mortgage Refinancing
Tough market: Rising mortgage rates making home buying harder
Source: Housing Wire --- The Rio Grande Valley was already struggling with housing affordability, and now higher mortgage interest rates are making it worse. That’s according to a new study from the Texas Real Estate Research Center of Texas A&M University, which...
US real estate market may be cooling, depending on who you ask
Source: ABC News --- Just a few months ago, the real estate market was favorable to people selling homes. The amount of buyers was increasing, the number of listings were down and interest rates were dropping, it seemed, across the country. Now, brokers are saying the...
Average mortgage debt rose 14% over the past 5 years
Source: Rome News Tribune --- The average mortgage debt held by American homeowners has risen 14%, according to Experian data. At the end of 2021, the average mortgage balance was $223,952 in the U.S., up from an average of $196,403 for the same time period in 2017. ...
Half of America has no idea what a mortgage actually is
Source: SWNS Digital --- Half of America has no idea what a mortgage actually is, new research suggests. That’s according to a recent survey that asked 2,000 Americans, 73% of them homeowners, to test their knowledge of both the housing market and financial lending...
Hidden costs of buying a home
Source: Bankrate --- If you’re planning to buy a new home soon, you’ve likely given some thought to the maximum price you can pay and the down payment you can offer. And if you plan to finance the purchase, the monthly mortgage payment could also be on the list of...
In this state, seniors can now freeze their property taxes — here’s how
Source: Market Watch --- A new property tax relief law went into effect this week in Maine, which could be a boon for seniors in the nation’s oldest state that also has the fourth-highest homeownership rate. Under the “Property Tax Stabilization Program,” seniors who...
Today’s Mortgage Rates & Trends – August 8, 2022: Rates seesaw
Source: Investopedia --- Rates on 30-year mortgages rose by almost four-tenths of a point Friday, extending a three-day pattern of dramatic up and down swings ranging from a third to a half a percentage point each day. National Averages of Lenders' Best Rates Loan...
Can you refinance a seller-financed mortgage?
Source: The Mortgage Reports --- Some home buyers get their mortgage loans from the home’s seller — not from a mortgage lender. This kind of financing, known as “owner financing” or “seller financing,” can help buyers who don’t meet standard mortgage guidelines at the...
As Mortgage Rates Stay Up, Lenders and Brokers Need to Get ‘Creative’
Source: Market Scale --- Freddie Mac’s weekly averages since July 14 have been volatile, with spikes and dips in 30-year fixed, 15-year fixed and 15-year adjustable mortgage rates. But even with some short term relief after August 4’s numbers brought rates below 5%...
Thinking of Buying? These Cities Are Among the Fastest-Cooling Housing Markets in the Country
Source: The Motley Fool --- As potential home buyers think twice about whether now is the right time to buy, sellers in some areas are dropping their prices. The red-hot housing market ushered in by the pandemic is now cooling. And according to Redfin, the areas of...
