Mortgage Industry News
Purchase Loans Up, Refinancing Down in Latest Mortgage Application Activity
Among the government programs, the FHA share of total applications remained unchanged at 19.1% from the week prior. Continue Reading Purchase Loans Up, Refinancing Down in Latest Mortgage Application Activity
Arizona Couple Sued for Running Foreclosure Rescue Schemes
Edward Trenton Albarracin and Gretchen Marie Zamjahn operated more than 50 fraudulent entities. Continue Reading Arizona Couple Sued for Running Foreclosure Rescue Schemes
Mortgage Rates Inch Closer to 7% Level
The 30-year fixed-rate mortgage averaged 6.93% as of Jan. 9. Continue Reading Mortgage Rates Inch Closer to 7% Level
Ally Financial to End Mortgage Originations
The digital-only bank’s layoffs will affect less than 5% of its workforce. Continue Reading Ally Financial to End Mortgage Originations
Mortgage Application Activity Starts 2025 in Decline
The Refinance Index increased 2% from the previous week and was 6% lower than the same week one year ago. Continue Reading Mortgage Application Activity Starts 2025 in Decline
What Is Private Mortgage Insurance? Here’s Everything Homebuyers Need to Know
Source: CNET --- If you make a down payment of less than 20% on your home, you'll probably have to purchase private mortgage insurance. When you make a smaller down payment, lenders tend to consider you a higher-risk candidate for a mortgage, and the PMI requirement...
It all Matters
Debbie Bloyd is a contributing author to Weekly Real Estate News and can be contacted at 469-768-0337 or [email protected] Yesterday was maddening! I spent a lot of time on the phone with a client and his mom. Another first-time homebuyer with too much help...
What Are the Best Options for Today’s First-Time Homebuyers?
Source: Keeping Current Matters --- If you’re looking to buy your first home, you’re likely balancing several factors. Because both mortgage rates and home prices have risen this year, it costs more to buy a home than it did even just a few months ago. But that...
U.S. Mortgage Lending Dives 32 Percent in Q1, Fastest Decline in 8 Years
Source: World Property Journal --- Based on ATTOM's first-quarter 2022 U.S. Residential Property Mortgage Origination Report, 2.71 million mortgages secured by residential property (1 to 4 units) originated in the first quarter of 2022 in the United States. That...
Would-Be Homebuyers Feeling Squeeze of Higher Home Prices and Mortgage Rates
Source: Fannie Mae --- WASHINGTON, DC – The Fannie Mae (FNMA/OTCQB) Home Purchase Sentiment Index® (HPSI) remained relatively flat in May, decreasing by only 0.3 points but inching nearer its 10-year- and pandemic-low of 63.0 from April 2020. Surveyed consumers...
Over Half of U.S. Buyers Report Crying While Looking for a Home in 2022
Source: World Property Journal --- According to a new Zillow survey, over 50% of U.S. home buyers say the process left them in tears, with Gen Zers and millennials -- many of whom are first-time home buyers - far more likely to cry at least once during their...
Home Affordability Has ‘Collapsed’ in 2022. What To Expect Next, According to BofA
Source: Realtor --- The double whammy of surging mortgage rates and skyrocketing home prices has led to “collapsed” housing affordability in America, according to Chris Flanagan’s team at BofA Global Research. The situation has gotten so bad that it now compares to...
Considering an adjustable rate mortgage? Be sure you fully understand the risks
Source: CNBC --- When interest rates rise, it’s common for some homebuyers to explore whether an adjustable rate mortgage would make sense for them. With an ARM, as it’s called, the appeal is its lower initial interest rate compared with a traditional 30-year...
Today’s mortgage refinance rates rise
Source: Bankrate --- The majority of key mortgage refinance rates were higher today compared to a week ago, according to data compiled by Bankrate. 30-year fixed refinance rate: 5.51%, +0.29 vs. a week ago 15-year fixed refinance rate: 4.71%, +0.18 vs. a week ago...
Why You Need an Expert To Determine the Right Price for Your House
Source: Keeping Current Matters --- If your lifestyle has changed recently and you’re ready to make a move, taking advantage of today’s sellers’ market might be just the answer for your summer plans. With homes continuing to get multiple offers, this could be your...
