Mortgage Industry News
FHFA’s Pulte Debuts New Ad for ‘Great American Mortgage Corporation’
The advertisement touts President Trump as a leader “who stands by us and the basic principle that all Americans deserve to dream and dream big.” Continue Reading FHFA’s Pulte Debuts New Ad for ‘Great American Mortgage Corporation’
RE/MAX Holdings Recruits Vic Lombardo as President of Mortgage Services
Lombardo was previously chief operating officer at Guaranteed Rate Affinity. Continue Reading RE/MAX Holdings Recruits Vic Lombardo as President of Mortgage Services
California Mortgage Firm President Arrested for DUI Collision That Killed 88-Year-Old Man
Melvin Joseph Weibel, the 88-year-old passenger in the Ford Transit van, was pronounced dead at the scene. Continue Reading California Mortgage Firm President Arrested for DUI Collision That Killed 88-Year-Old Man
Cornerstone Capital Bank Launches Community Lending Division
The bank stated it will seek “to close racial and economic gaps in homeownership and help families achieve their dream of owning a home.” Continue Reading Cornerstone Capital Bank Launches Community Lending Division
Bank of England Governor Warns Against Relaxing UK Mortgage Lending Guidelines
Andrew Bailey said the guidelines protected the nation against a wave of failed mortgages. Continue Reading Bank of England Governor Warns Against Relaxing UK Mortgage Lending Guidelines
Want to Back Out of a Home Purchase? Here’s What You Need to Know
Source: Motley Fool --- At one point, the housing market was so hot and buyers were so desperate to purchase homes that they were willing to go to different extremes to get an offer accepted. Those included making offers without actually seeing homes in person and...
9 Steps to Getting the Perfect Mortgage as Rates Rise
Source: The Motley Fool --- During the heart of the pandemic, qualifying for an affordable loan was pretty easy for most home buyers. Rates repeatedly hit record lows and it was possible to get a 30-year fixed-rate mortgage for under 3.00% if you had reasonable...
Strong demand for mortgages
Source: Ekathimerini.com --- Demand for housing loans has continued unabated after the January-June semester, as after a long lull over previous years, households are scrambling to meet their housing needs while securing the long-term low fixed interest rates that...
What’s considered luxury real estate?
Source: Bankrate --- You’ve thumbed the glossary magazines, scanned the listings pics, binge-watched all the residential real estate shows. And still, you’re not sure what counts as luxury real estate, exactly. Is it a property priced at $1 million-plus? A home with...
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...
