Mortgage Industry News
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%
Rosegate Mortgage Partners with Investment Firm on Origination Platform
Craig Freel, Rice Park’s president and co-chief investment officer, said, “We’re looking forward to cultivating this relationship.” Continue Reading Rosegate Mortgage Partners with Investment Firm on Origination Platform
FICO Rolls Out Tool to Simulate Credit Score Impacts
The tool can run credit event scenarios from an applicant’s credit report data and determine the potential impact to that individual’s actual FICO Score. Continue Reading FICO Rolls Out Tool to Simulate Credit Score Impacts
Mortgage Rates Are Climbing Again
The 30-year fixed-rate mortgage averaged 6.54% as of Oct. 24, up from last week when it averaged 6.44%. Continue Reading Mortgage Rates Are Climbing Again
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...
How long must my husband be in his new job for us to get a mortgage?
Source: The Guardian --- Q I know every lender is different but how long does my husband need to be in his new job before we can apply for a mortgage? We only need a £50,000 mortgage as we are buying my childhood home from my parents. How do we go about us buying it...
Bankers’ Hours column: Changes coming to the housing market
Source: Post Independent --- This is an issue we revisit periodically, because everybody else does. The question is regularly raised, “With stratospherically spiking home prices, and so called ‘Non-QM (Nonqualifying mortgages, meaning not conforming to Fannie Mae or...
Mortgage rates will fall to 4.5% in 2023? That’s the estimate from Fannie Mae. Here’s what that means for homebuyers
Source: CNBC --- Mortgage rates are projected to decline next year — but that doesn’t mean prospective homebuyers should necessarily delay a purchase for the prospect of lower financing costs. The rate on a 30-year fixed mortgage will fall to an average 4.5% in 2023,...
What Is a Lis Pendens?
Source: Investopedia --- What Is a Lis Pendens? A lis pendens is an official notice to the public that a lawsuit involving a claim on a property has been filed. Lis pendens is connected to the concept that a property buyer must assume any litigation that exists...
How Hard is It for Self-Employed People to Get a Mortgage?
Source: Yahoo Finance --- Many people dream of being their own boss. And with good reason –multiple studies link self-employment with higher job satisfaction and enhanced physical wellbeing. As of July 2022, 16.4 million out of 158.1 million Americans were...
What are mortgage points and how can you buy them?
Source: CBS News --- Shopping around for a mortgage can be more than a little confusing. With all the variables to consider and industry lingo to learn, it's almost like the home buying process was designed to leave you scratching your head. Like with any complicated...
Recent Posts
Report: Land Prices Soared 77% Since the Pandemic- PennyMac Unveils Special Mortgage Program for Team USA Olympic Athletes
- Tampa Bay Rays Seek $1 Billion in Public Funds for New Stadium
- Rosehaven Homes Debuts Extended Deposit Program for Buyers at Ontario Condo…
- Southern Impression Homes Completes First Phase of 213-Unit Dallas-Area BTR…
