Mortgage Industry News
Mortgage Application Activity Inches Up Again
The FHA share of total applications decreased to 18.7% from 19% the week prior. Continue Reading Mortgage Application Activity Inches Up Again
Mortgage Rates on the Rise Again
The 30-year fixed-rate mortgage averaged 6.75% as of July 17. Continue Reading Mortgage Rates on the Rise Again
Three Bay Area Real Estate Professionals Sentenced for Mortgage Fraud Scams
“The defendants tried to line their own pockets at the expense of homebuyers, lenders, and federally insured programs,” said US Attorney Ismail J. Ramsey. Continue Reading Three Bay Area Real Estate Professionals Sentenced for Mortgage Fraud Scams
Mortgage Rates Stay Flat Ahead of Holiday Weekend
The 30-year fixed-rate mortgage averaged 6.81% as of Nov. 27. Continue Reading Mortgage Rates Stay Flat Ahead of Holiday Weekend
Mortgage Application Activity Rises by 6.3%
The refinance share of mortgage activity decreased to 38.8% of total applications from 41% the previous week. Continue Reading Mortgage Application Activity Rises by 6.3%
Five things to know about the next US housing crisis
Source: Aljazeera --- As real estate in the United States remains strong despite rising interest rates, market analysts interviewed by Al Jazeera predict that the next housing crisis will centre around Americans locked out of homeownership. “That’s our big problem...
Is a 40-Year Mortgage a Good Idea?
Source: US News --- The most common mortgage loan terms are 15 and 30 years, but if you need a lower monthly payment, a 40-year mortgage may be an option. While this longer loan payoff period could reduce your mortgage payment and bring home affordability within...
Mortgage Giant Cuts Thousands Of Jobs—Warns Of ‘Accelerated’ Downturn As Housing Market Abruptly Collapses
Source: Forbes --- Mortgage originator loanDepot on Tuesday unveiled a plan to cut thousands of jobs and reduce costs “significantly” as higher interest rates sink mortgage demand—becoming the latest company to warn that the housing market is due for a steeper...
Mortgage Rates Edge Back Down. More Volatility Looms
Source: Mortgage News Daily --- Mortgage rates moved sharply higher last week relative to where they ended the previous week. In the 3 weeks before that, rates fell at one of the fastest paces on record, largely because the starting point was the highest level since...
Should I wait for real estate prices to crash before I buy a house? Here are 3 simple reasons why this housing downturn is nothing like 2008
Source: Yahoo Finance --- Two years in, this decade has already brought a global pandemic, record-setting inflation, rising interest rates and a country more divided than ever before. So why not a housing crash too? Americans who lived through the 2008 crisis may be...
The Drop in Mortgage Rates Brings Good News for Homebuyers
Source: Keeping Current Matters --- Over the past few weeks, the average 30-year fixed mortgage rate from Freddie Mac fell by half a percent. The drop happened over concerns about a potential recession. And since mortgage rates have risen dramatically this...
Homeownership just got 5% cheaper as mortgage rates fall off a cliff
Source: Yahoo Finance --- U.S. mortgage rates fell sharply and for the second straight week as monetary policies meant to slow the economy take hold of the housing market. The rate on the popular 30-year fixed mortgage hasn’t fallen this much since December 2008, a...
Mortgage rates just saw their biggest drop since 2008: Two reasons why that’s not good news.
Source: USA Today --- Earlier this week, Freddie Mac reported that mortgage rates had fallen rapidly over the course of the week. The government-sponsored entity that buys mortgages on the secondary market tracks trends in mortgage rates. Its data showed that the...
The Bay Area Housing Market Is Cooling More Rapidly Than Anywhere Else in the Country
Source: Redfin --- Housing markets in northern California are cooling faster than anywhere else in the U.S. amid high mortgage rates and a faltering stock market. Five of the 10 U.S. housing markets that have cooled fastest this year are in northern California–San...
The housing market, at last, appears to be cooling off
Source: Washington Post --- After a stunning rise in home prices enriched sellers and keyed up buyers into frantic bidding wars, there are signs that the U.S. housing market is starting to cool amid a surge of new inventory and higher interest rates. “For sale” signs...
