Mortgage Industry News
5 Consent Orders Tied to Unregistered British Columbia Mortgage Broker
Four real estate licensees and one mortgage broker recently entered into consent orders with disciplinary action. Continue Reading 5 Consent Orders Tied to Unregistered British Columbia Mortgage Broker
Mortgage Applications for New Home Purchases Down in February
By product type, conventional loans composed 56.7% of loan applications while FHA loans accounted for 32.1%. Continue Reading Mortgage Applications for New Home Purchases Down in February
Motto Mortgage Opens First New Hampshire Office
The new office was established by David Duplessis, who brings 35 years of industry experience. Continue Reading Motto Mortgage Opens First New Hampshire Office
Mortgage Application Activity in 4% Upswing
The FHA share of total applications increased to 13.5% while the VA share increased to 15.2%. Continue Reading Mortgage Application Activity in 4% Upswing
Euclid Mortgage Creates Mortgage Advisory Panel
Andrew Bon Salle, Claudia Merkle and Ivy Zelman were named to the panel. Continue Reading Euclid Mortgage Creates Mortgage Advisory Panel
New Home Sales Increase in May Before Fed June Rate Rise
Source: NAHB --- After posting four consecutive monthly declines on rising mortgage rates and worsening affordability conditions, new home sales posted a solid gain in May as some buyers rushed into the market in advance of the Federal Reserve’s June interest rate...
What Is an Escalation Clause in Real Estate and When Should You Use One?
Source: Realtor --- What is an escalation clause in real estate, and how does an escalation clause work? When you’re deciding on what price to offer on a home, the situation might call for a single price or, in some cases, numerous prices via an escalation clause. In...
How To Reinvent Yourself & Your Business Enterprise
Once you have decided to reinvent yourself, the next decision is whether to stay in your chosen field or select a new one. Continue Reading How To Reinvent Yourself & Your Business Enterprise
U.S. Mortgage Application Payments Spike $513 in 2022
Source: World Property Journal --- According to the Mortgage Bankers Association's latest Purchase Applications Payment Index, U.S. homebuyer affordability was mostly unchanged in May 2022, with the national median payment applied for by applicants up slightly to...
Home Flips Are Up, But Raw Profits Hit 13-Year Low
Source: National Mortgage Professional --- ATTOM released its first-quarter 2022 U.S. Home Flipping Report showing that home flips are up in the first quarter, while profits have sunk to a 13-year low. The report shows 114,706 single-family houses and condominiums in...
Housing-affordability crunch time is at hand
Source: Sun Gazette --- Ballooning mortgage costs, driven by skyrocketing prices and interest rates, have made mortgages less affordable than at any time since at least 2007. Demand for homes has pulled back in response, easing price growth, slowing sales and boosting...
Mortgages Update: Fifth Of Mortgage Payments At Risk
Source: Forbes UK --- One fifth (20%) of UK homeowners say they are unsure how they will afford their next mortgage payment, according to a recent survey by our online mortgage broker partner, Trussle. The online survey gathered responses from 2,000 homeowners across...
VA loans: A complete guide to mortgages for eligible military veterans
Source: Bankrate --- For many people, buying a home requires a pile of cash, putting homeownership out of reach. However, for those who qualify because of their military service (or spouse’s military service), it’s possible to get help buying a home with little or no...
Demand for adjustable-rate mortgages surges, as interest rates make biggest jump in 13 years
Source: CNBC --- Mortgage applications to purchase a home rose 8% last week compared with the previous week, bolstered in part by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were,...
More Than 40% of Home Sellers Are Dropping Their Prices in Salt Lake City, Boise, Sacramento and Other Pandemic Hot Spots
Source: Redfin --- An increasing share of home sellers are lowering their asking price as rapidly rising mortgage rates cut into buyers’ budgets and homebuying sentiment drops. Price drops are especially common in mid-sized metros in the West–particularly in Utah–many...
