Mortgage Industry News
Arizona Couple Sued for Running Foreclosure Rescue Schemes
Edward Trenton Albarracin and Gretchen Marie Zamjahn operated more than 50 fraudulent entities. Continue Reading Arizona Couple Sued for Running Foreclosure Rescue Schemes
Ex-CEO of Collapsed Crypto Trading Platform Starts Second Career as Mortgage Broker
Christopher Flinos is working at Balcombe Financial, a mortgage brokerage owned by his brother. Continue Reading Ex-CEO of Collapsed Crypto Trading Platform Starts Second Career as Mortgage Broker
New Reports Find Mortgage Applications in Decline as Mortgage Affordability Frays
The average loan size for new homes increased from $400,930 in December to $403,416 in January. Continue Reading New Reports Find Mortgage Applications in Decline as Mortgage Affordability Frays
Mortgage Rates Inch Lower
The 30-year fixed-rate mortgage averaged 6.85% as of Feb. 20. Continue Reading Mortgage Rates Inch Lower
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
Why Warren Buffett Doesn’t Buy Real Estate And Most Other Investors Shouldn’t Either
Source: Yahoo --- Warren Buffett’s long-term investment strategy has proven to be successful through virtually all market conditions over the past several decades – recession, high inflation and deflation. If there’s one thing that’s made Buffett one of the most...
Why You Should (and Shouldn’t) Sell Your Home in 2022
Source: Real Estate --- In the final months of 2022, the housing market isn’t the same as when the year started. In an effort to battle inflation, the Federal Reserve has increased interest rates repeatedly throughout the year, contributing to the average 30-year,...
Housing market correction? Here’s what experts think is ahead for the real estate market
Source: USA Today --- The Federal Reserve's interest rate hikes may be intended to give the housing industry a "reset," as chair Jerome Powell wanted, but it also may have further confused home buyers and sellers on what to do next. Average 30-year fixed mortgage...
Mortgage customers fear unaffordable repayments due to rate hikes
Source: Mortgage Introducer --- With another interest rate hike expected this week, a third of mortgage customers in the UK said that rising rates have made repayments unaffordable for them. Commissioned by Butterfield Mortgages, an independent survey of 2,000 UK...
America Mortgages Announces a Way to Obtain US Mortgages based on Rental Income Only
Source: EIN News --- America Mortgages, the leader in U.S. mortgage originations launched a non-QM lending program for non- SINGAPORE, September 21, 2022 /EINPresswire.com/ -- America Mortgages, Inc., the leader in U.S. mortgage loan originations for non-resident...
Is a housing market crash on the way in 2022?
Source: AZ Big Media --- Last year was anything but normal — especially in Arizona’s residential real estate market. Median sale prices rose in Phoenix from $325,000 in January 2021 to $404,300 by October, a 24.4% increase, according to real estate website Redfin....
What buyers and sellers need to know for a real estate recession
Source: Fox 5 Atlanta --- By now, you've probably heard that the economy is not in great shape. Inflation is at a 40-year high, interest rates have doubled since early this year, and real estate prices have literally gone through the roof. But what does this all mean...
“Bank of Mom and Dad” Increasingly Turning to Reverse Mortgages for Downpayment Gifts
Source: Storeys --- The “Bank of Mom and Dad” — older homeowners who dip into their own wealth to help their Millennial-aged kids rustle up a home downpayment — has long been a presence in Canada’s housing market. In fact, according to the Toronto Regional Real Estate...
85% of Homeowners with Mortgages Have a Rate Far Below Today’s Level, a Factor Prompting Many to Stay Put
Source: Business Wire --- Roughly six of every seven (85%) U.S. homeowners with mortgages have a mortgage interest rate far below today’s level of 6%, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. With rates now at...
Here Are Today’s Mortgage Rates, September 20, 2022 | Rates Remain Above 6.3% Ahead of Fed Meeting
Source: Next Advisor --- Nearly two years have gone by with record-low mortgage rates. Now, 2022 has started off with rates rising higher than pre-pandemic levels. Don’t cancel your home purchase plans just yet. Even though rates are higher than they were last year...
