Mortgage Industry News
Mortgage Rates Remain Flat
The 30-year fixed-rate mortgage averaged 6.65% as of March 13, up slightly from last week when it averaged 6.63%. Continue Reading Mortgage Rates Remain Flat
Evergreen Home Loans Expands into New Mexico
The company is opening new branches in Albuquerque and Carlsbad, under the leadership of Area Manager Barry Abt. Continue Reading Evergreen Home Loans Expands into New Mexico
Mortgage Rates Slide Away from the 7% Mark
The 30-year fixed-rate mortgage averaged 6.89% as of July 11. Continue Reading Mortgage Rates Slide Away from the 7% Mark
Carrington Mortgage Services to Provide Section 184 Loans for Native Americans
Section 184 home mortgage loans are fully available in 24 states. Continue Reading Carrington Mortgage Services to Provide Section 184 Loans for Native Americans
MBA: Mortgage Credit Availability Up for Sixth Consecutive Month
“The jumbo index increased to its highest level since August 2022,” said MBA’s Joel Kan. Continue Reading MBA: Mortgage Credit Availability Up for Sixth Consecutive Month
Mortgage Rates Slightly Higher to Start The Week
Source: Mortgage News Daily --- Mortgage rates surged well into the 6% range last week before quickly cooling down after Wednesday's Fed announcement. The average top tier rate was nearly back below 6% by Friday. Today's market movement means that we'll need to keep...
Homebuyers on a $2,500 Monthly Budget Have Lost $118,000 in Spending Power This Year Amid Surge in Mortgage Rates
Source: Redfin --- A homebuyer on a $2,500 monthly budget has lost nearly $120,000 in spending power since the end of last year as mortgage rates have nearly doubled. That buyer can afford a $399,750 home at today’s mortgage rate of roughly 6%. That’s a staggering...
5 signs the housing market is starting to slow down
Source: CNN --- There is a shift happening in the housing market. After more than a year of soaring demand, exploding home prices and increasing real estate sales, the market finally seems to be cooling off. "The housing market isn't crashing, but it is experiencing...
ARMs return with lower rates: Should you get one to buy a home?
Source: Bankrate --- With mortgage rates trending up and home prices still climbing, more borrowers are looking to adjustable-rate mortgages. This type of mortgage can be a more affordable means to get into a home, especially as higher rates on fixed mortgages begin...
Here’s why this housing downturn is nothing like the last one
Source: CNBC --- As quickly as mortgage rates are rising, the once red-hot housing market is cooling off. Home prices are still historically high, but there is concern now that they will ease up as well. All of this has people asking: Is today’s housing market in the...
4 Tips to Avoid Overpaying in Today’s Changing Housing Market
Source: Money --- Since the start of the coronavirus pandemic, homebuyers have grown accustomed to overpaying and playing a risky game of bidding wars and waived contingencies. In a recent survey by Money and Morning Consult, 36% of people who purchased a home in the...
How will the Fed interest rate hike affect you?
Source: The Daily News Online --- (TNS) – Consumers are already paying more for gas, groceries and everyday items, but they should expect to fork over more in other parts of their lives after Wednesday’s interest rate increase. The Federal Reserve’s move to rein in...
43% of homeowners have delayed home improvements and maintenance due to inflation. Here’s why that’s risky
Source: CNBC --- For homeowners, big projects and purchases may be another casualty of rampant inflation, new research suggests. Overall, 60% of homeowners in a recent survey are less comfortable making large purchases for their home or household because of rising...
Surging mortgage rates hitting first-time homebuyers ‘the hardest’: Real estate expert
Source: Fox Business --- While the real estate market shows signs of cooling down after the 30-year fixed mortgage rate hit its highest level since 2008, one expert issued a timely warning to first-time homebuyers: "We've seen rates even above 6%, and it's really...
Housing market slows retreat from rising seas, bigger storms
Source: AP --- Chuck and Terry Nowiski lived in their country-style farmhouse with a wrap-around porch for 36 years before it flooded. After hurricanes Matthew and Florence, they said “yes” to the state’s offer to buy their place and tear it down. Nearly three years...
