Mortgage Industry News
Mortgage Rates Go Into Decline
The 30-year fixed-rate mortgage averaged 6.89% as of Feb. 6. Continue Reading Mortgage Rates Go Into Decline
loanDepot and Onx Homes Announce New Joint Venture
The companies did not announce the leadership for Onx X+ Mortgage. Continue Reading loanDepot and Onx Homes Announce New Joint Venture
40% of New Mortgages Went to Buyers Under 35
Redfin determined the median age of first-time U.S. homebuyers last year was 35. Continue Reading 40% of New Mortgages Went to Buyers Under 35
Mortgage Rates Down Slightly, Though Still Elevated
The 30-year fixed-rate mortgage averaged 7.02%, down from last week when it averaged 7.09%. Continue Reading Mortgage Rates Down Slightly, Though Still Elevated
Mortgage Application Activity Inches Up Slightly
Mortgage applications for new home purchases in April increased 22.1% from one year earlier. Continue Reading Mortgage Application Activity Inches Up Slightly
The odds of a home price decline hitting your local housing market, as told by one interactive chart
Source: Fortune --- Fed Chair Jerome Powell has made it clear: The central bank is done sitting on the sidelines as inflation chips away at the value of the dollar. The plan? Put upward pressure on interest rates until price growth relents. Historically speaking, that...
Blazing Your Own Trail
Source: Scotsman Guide --- Securing a mortgage for commercial real estate can be a complex and time-consuming process. It is challenging for borrowers who need financing for their projects to decide whether to use the capital-markets team offered by the same company...
Adjustable-rate mortgage demand doubles as interest rates hit the highest since 2009
Source: CNBC --- Mortgage rates moved even higher last week, crashing refinance demand and prompting potential homebuyers to apply for riskier loan products which offer lower rates. Total mortgage application volume fell 8.3% last week compared with the previous week,...
A Rising Star
Source: Housing Wire --- When it comes to commercial real estate, the post-pandemic economy has grounded some asset classes while others are now rising stars. Multifamily and industrial are two sectors proving especially resilient to recent economic hardships....
Are Mobile & Manufactured Homes Real or Personal Property?
The difference between mobile and manufactured homes is the date they were built. According to HUD, mobile homes were factory-built before June 15, 1976, and manufactured homes were built after that date. Continue Reading Are Mobile & Manufactured Homes Real or Personal Property?
How Homeownership Can Help Shield You from Inflation
Source: Keeping Current Matters --- If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can...
Americans Are Buying Smaller Homes as Prices Skyrocket
Source: Redfin --- Americans are buying smaller homes than they were at the height of the pandemic. The typical U.S. home that went under contract in March was 1,720 square feet, down 1.8% from 1,751 square feet the same time last year and roughly the same size as the...
Russian threat keeps mortgage cybersecurity experts on alert
Source: National Mortgage News --- Russia’s hostilities in Ukraine have already impacted the U.S. housing market and as the war goes on, the mortgage industry’s cybersecurity experts are bracing for tests of their defenses. The uncertainty caused by the initial...
Mortgage Rates Are a Bit Higher (And Way Lower) Than You’ve Been Told
Source: Mortgage News Daily --- It's hard to avoid bad news about rising mortgage rates in 2022, but you can't believe everything you read. It is true that mortgage rates have been surging higher in 2022. A previous article (read it here) goes into greater detail...
U.S. Property Foreclosures Spike 132 Percent Annually
Source: World Property Journal --- Foreclosures increase in all 50 States in early 2022 According to ATTOM's newly released Q1 2022 U.S. Foreclosure Market Report, there were 78,271 U.S. properties with a foreclosure filing during the first quarter of 2022, up 39...
