Mortgage Industry News
Mortgage Rates Drop Below 7%
The 30-year fixed-rate mortgage averaged 6.96% as of Jan. 23. Continue Reading Mortgage Rates Drop Below 7%
Mortgage Application Activity is Dull, Forbearance Levels Drop
“Almost 43% of borrowers in forbearance were there due to a natural disaster,” said MBA’s Marina Walsh. Continue Reading Mortgage Application Activity is Dull, Forbearance Levels Drop
Lower-Income Borrowers Account for One in Five New Mortgages
Redfin noted today’s median-home sale price is about $420,000, up 5% year-over-year. Continue Reading Lower-Income Borrowers Account for One in Five New Mortgages
FHA Extends Foreclosure Moratorium to Wildfire Victims in Maui
The extension will assist homeowners impacted by the August 2023 wildfires. Continue Reading FHA Extends Foreclosure Moratorium to Wildfire Victims in Maui
Mortgage Rates Soar for Fifth Consecutive Week
The 30-year fixed-rate mortgage averaged 7.22% as of May 2. Continue Reading Mortgage Rates Soar for Fifth Consecutive Week
A Homebuyer’s Guide to the Appraisal Gap: Why It Happens and What To Do
Source: Realtor --- If you’re thinking of buying a home in today’s market, you need to be prepared for the possibility of an appraisal gap. So what is an appraisal gap? An appraisal gap is when a home’s appraised value is lower than the purchase price the buyer has...
Bitcoin-collateralized mortgage launched by cryptofinance firm
Source: National Mortgage News --- XBTO Group, a Miami-based crypto finance platform and asset manager, unveiled its bitcoin-collateralized mortgage offering this week. The company plans to offer the product to home buyers making purchases valued at $1 million or more...
Reverse Mortgages – The Good, The Bad and The Misunderstood
What am I doing with my day today and most days? Mortgages – all kinds of mortgages. I have been a mortgage broker over 25 years now and it always amazes me of the information that is out there, it always has a slant on it. There is always a bias on whether it is...
Only Two Homes In Jackson Under $1 Million; Real Estate Prices Doubled In Last 18 Months
Source: Cowboy State Daily --- Real estate prices have more than doubled in Teton County in the past 18 months and properties selling for less than $1 million are increasingly rare in the county’s limited housing inventory, according to a report by a Jackson real...
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30-year fixed mortgage crosses 5%
Source: CNBC --- The average rate on the popular 30-year fixed mortgage just crossed 5%, now standing at 5.02%, according to Mortgage News Daily. This is the first time it has crossed that threshold since 2011, save two days in 2018. It stood at 3.38% one year ago...
Hot housing market creates equally hot real estate jobs market
Source: Business Report --- Despite a sharp rise in mortgage rates, U.S. housing market activity continues to sizzle, and—at least through March—generate new jobs each month. There are now nearly 1.8 million people working in real estate services, more than before the...
Waiting Will Cost Homebuyers Money
Source: Scotsman Guide --- Experts have long said that there’s a cost to waiting to a buy a home. That’s certainly true in a rising interest rate market. There is a misconception that as housing prices stabilize, or even decrease, that there will be a substantial...
The Salespersons Best Practices
The entire process is what I refer to as a best practices action system. Some salespeople question why they are not getting the outstanding results expected in their sales career? Some feel that the harder they try, they beat their heads against a wall or race down a...
The economic shock hitting the housing market just got bigger
Source: Fortune --- Housing economists are clear: The swift move up in mortgage rates amounts to an economic shock. The bad news for homebuyers? That already big economic shock got even bigger last week. On Thursday, Freddie Mac reported that the average 30-year fixed...
