Mortgage Industry News
Nigerian National Extradited for Multi-Million Dollar Florida Mortgage Fraud Scheme
Okechukwu Josiah Odunna, was arrested by Nigerian authorities last September. Continue Reading Nigerian National Extradited for Multi-Million Dollar Florida Mortgage Fraud Scheme
Rocket Mortgage to Exit the Canadian Market
Rocket Mortgage plans to complete its exit from the market by June 27. Continue Reading Rocket Mortgage to Exit the Canadian Market
Mortgage Application Activity Slumps Again
The FHA share of total applications remained unchanged at 13.1%. Continue Reading Mortgage Application Activity Slumps Again
Mortgage Rates Moves Further from the 7% Mark
The 30-year fixed-rate mortgage averaged 6.86% as of June 27. Continue Reading Mortgage Rates Moves Further from the 7% Mark
Mortgage Application Activity Inches Up
The total number of home loans now in forbearance declined slightly to 0.21% as of May 31. Continue Reading Mortgage Application Activity Inches Up
It all Matters
Debbie Bloyd is a contributing author to Weekly Real Estate News and can be contacted at 469-768-0337 or [email protected] Yesterday was maddening! I spent a lot of time on the phone with a client and his mom. Another first-time homebuyer with too much help...
What Are the Best Options for Today’s First-Time Homebuyers?
Source: Keeping Current Matters --- If you’re looking to buy your first home, you’re likely balancing several factors. Because both mortgage rates and home prices have risen this year, it costs more to buy a home than it did even just a few months ago. But that...
U.S. Mortgage Lending Dives 32 Percent in Q1, Fastest Decline in 8 Years
Source: World Property Journal --- Based on ATTOM's first-quarter 2022 U.S. Residential Property Mortgage Origination Report, 2.71 million mortgages secured by residential property (1 to 4 units) originated in the first quarter of 2022 in the United States. That...
Would-Be Homebuyers Feeling Squeeze of Higher Home Prices and Mortgage Rates
Source: Fannie Mae --- WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) remained relatively flat in May, decreasing by only 0.3 points but inching nearer its 10-year- and pandemic-low of 63.0 from April 2020. Surveyed consumers...
Over Half of U.S. Buyers Report Crying While Looking for a Home in 2022
Source: World Property Journal --- According to a new Zillow survey, over 50% of U.S. home buyers say the process left them in tears, with Gen Zers and millennials -- many of whom are first-time home buyers - far more likely to cry at least once during their...
Home Affordability Has ‘Collapsed’ in 2022. What To Expect Next, According to BofA
Source: Realtor --- The double whammy of surging mortgage rates and skyrocketing home prices has led to “collapsed” housing affordability in America, according to Chris Flanagan’s team at BofA Global Research. The situation has gotten so bad that it now compares to...
Considering an adjustable rate mortgage? Be sure you fully understand the risks
Source: CNBC --- When interest rates rise, it’s common for some homebuyers to explore whether an adjustable rate mortgage would make sense for them. With an ARM, as it’s called, the appeal is its lower initial interest rate compared with a traditional 30-year...
Today’s mortgage refinance rates rise
Source: Bankrate --- The majority of key mortgage refinance rates were higher today compared to a week ago, according to data compiled by Bankrate. 30-year fixed refinance rate: 5.51%, +0.29 vs. a week ago 15-year fixed refinance rate: 4.71%, +0.18 vs. a week ago...
Why You Need an Expert To Determine the Right Price for Your House
Source: Keeping Current Matters --- If your lifestyle has changed recently and you’re ready to make a move, taking advantage of today’s sellers’ market might be just the answer for your summer plans. With homes continuing to get multiple offers, this could be your...
Housing Inventory June 6th Update: Inventory UP 13.9% Year-over-year
Source: Calculated Risk --- Altos reports inventory is up 13.9% year-over-year. Inventory usually declines in the winter, and then increases in the spring. Inventory bottomed seasonally at the beginning of March 2022 and is now up 56% since then. As of June 3rd,...
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