Mortgage Industry News
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 Rates Continue to Drop
The 30-year fixed-rate mortgage averaged 6.63% as of March 6. Continue Reading Mortgage Rates Continue to Drop
GO Mortgage and PacRes Mortgage Announce Merger
GO Mortgage CEO Michael Isaacs will become the chief executive of the combined company. Continue Reading GO Mortgage and PacRes Mortgage Announce Merger
Most Homebuyers Are Not Shopping Around for a Mortgage
Baby boomers were the least likely to comparison shop (28%) while millennials were most likely. Continue Reading Most Homebuyers Are Not Shopping Around for a Mortgage
One-Third of Canadians Predict Bank of Canada Rate Cut Next Week
Most Canadians believe lower interest rates will make it more affordable for covering mortgage costs. Continue Reading One-Third of Canadians Predict Bank of Canada Rate Cut Next Week
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...
What home prices will look like in 2023, according to Zillow’s revised downward forecast
Source: Fortune --- There's no doubt about it: Soaring mortgage rates are an economic shock to the U.S. housing market. Over the past month alone, the average 30-year fixed mortgage rate has spiked from 3.11% to 5.11%. It's both pricing out some stretched homebuyers...
Mortgage rates just hit a 12-year high
Source: CNN--- Mortgage rates continued to rise this week, reaching their highest level in more than a decade. The 30-year fixed-rate mortgage averaged 5.11% in the week ending April 21, up from 5% the week before, according to Freddie Mac. It is the seventh...
Relax and Recharge in Your Mental Hobby Shop
Most people have a place they go to or an activity they engage in that helps them move into peacefulness, serenity, and resolve. They can spend time happily away from exterior societal pressures. I refer to that state of being as their "Mental Hobby Shop," which will...
Why This Housing Market Is Not a Bubble Ready To Pop
Source: Keeping Current Matters --- Homeownership has become a major element in achieving the American Dream. A recent report from the National Association of Realtors (NAR) finds that over 86% of buyers agree homeownership is still the American Dream. Prior to the...
Liens and Encumbrances Affecting Real Property Ownership
By Dan Harkey Real Estate & Private Money Finance Consultant m: 949 533-8315 | e: [email protected] What is a Lien? A lien is a legal right or claim against real property, referred to as a security interest. The lien is given or conveyed to a creditor (lender)...
Homeownership by Education: Degree-Holding Owners Surge as Those Without High School Drop 30%
Source: Housing Wire --- Although there are 4% fewer owned homes in the United States than there were in 2010, an increasing share belongs to highly educated people. And, with Millennials cementing their status as a driving force during the last decade, the life...
