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Rocket Mortgage Partners with Annaly in Mortgage Subservicing Pact
Rocket Mortgage is expected to begin servicing loans for Annaly as early as December. Continue Reading Rocket Mortgage Partners with Annaly in Mortgage Subservicing Pact
The Agency in New Partnership for Mortgage Lending
Aclara Lending will begin operations in Southern California. Continue Reading The Agency in New Partnership for Mortgage Lending
Additional Reading: Top Mortgage Industry News & Headlines
Fairway Independent Mortgage to Shut Down Wholesale Division
The final lock date on new loans is scheduled for Feb. 9 and the last day to submit new loans is Feb. 16. Continue Reading Fairway Independent Mortgage to Shut Down Wholesale Division
Tammac Holdings Corp. Expands Into Michigan and Alabama
The company can now offer manufactured and mobile home loans in the two states. Continue Reading Tammac Holdings Corp. Expands Into Michigan and Alabama
Mortgage Rates Continue to Drop
“With continued deceleration in inflation we expect rates to decline further,” said Freddie Mac Chief Economist Sam Khater. Continue Reading Mortgage Rates Continue to Drop
A resurgence for adjustable mortgages
Source: Jacksonville Daily Record --- Adjustable-rate mortgages are back. “Buyers are addicted to the lower interest rates. You can get between a half and a full point for a five- to seven-year ARM,” said John Adams, area manager of loanDepot Jacksonville’s offices....
Building Blocks: The 10 Cheapest Cities in America To Buy a Newly Constructed Home
Source: Realtor --- Buyers have always paid dearly for the privilege of buying a newly built home. From custom countertops to increased energy efficiency, to that oh, so seductive new-home smell, the benefits aren’t tough to discern. Younger buyers these days largely...
Housing inventory in Dallas area sinks from bad to worse, homes getting ‘upwards of 50 offers’
Source: WFAA --- DALLAS — The supply of houses in the Dallas area has sunk from bad to worse for buyers, with market inventory decreasing by more than half year over year. The decrease of 53.3% locally in January is more than three times the national average...
How Fed’s first rate hike in more than 3 years will affect credit card, mortgage, savings rates
Source: USA Today --- Consumer borrowing costs are headed higher. Much higher. With the Federal Reserve set to raise its key short-term interest rate by a quarter percentage point Wednesday, Americans will soon see higher rates on everything from credit cards to...
Austin Home Prices Have Risen $116,000 in the Last Year, Roughly the Cost of Two Teslas
Source: Housing Wire --- A homebuyer today could purchase the typical Austin home for $485,000. But if they could go back in time to January 2021, they could have bought a home and two Teslas for the same price. Put another way, someone could purchase both a Tesla...
Private Money Real Estate Loans; An Overview of Good Reasons
A subset of the real estate lending business exists where the loans are funded by private party investors rather than banks or other institutional lenders. This is referred to as bridge lending, private party lending, or hard money lending. The purpose of these...
70% of homebuyers had at least one regret about experience
Source: Scotsman Guide --- A newly published survey from HomeLight revealed some dismaying, although not necessarily shocking, impacts of the historically competitive housing market on consumer psychology. Among other takeaways, the survey (which polled more than...
Can I Claim the Mortgage Interest Deduction?
Source: House Logic --- Like most homeowners over the past couple of years, you may have discovered that you can no longer write off your property taxes or claim the mortgage interest deduction. That doesn’t necessarily mean your taxes went up. The change is because...
Mortgage and real estate news this week: Rising mortgage rates, new ways to tap your home equity and controversial condo mortgage rules
Source: Bankrate --- Mortgage rates are rebounding after dropping at the onset of the war in Ukraine. In other news, fintech companies are offering new ways to tap home equity, and new condo mortgage rules are causing a stir. 1. Mortgage rates jump back up Bankrate’s...
Why owning a home is the best hedge against inflation
Source: Housing Wire --- On Thursday, the Bureau of Labor Statistics reported the same trend that all Americans have seen lately: the inflation rate of growth is rampant and doesn’t show any sign of easing up due to the Russian Invasion of Ukraine. The Consumer Price...
