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Refinancing Drives Up Mortgage Application Activity
The Refinance Index increased 20% from the previous week and was 175% higher than the same week one year ago. Continue Reading Refinancing Drives Up Mortgage Application Activity
Mortgage Rates Continue to Slide
The 30-year fixed-rate mortgage averaged 6.09% as of Sept. 19, down from last week when it averaged 6.20%. Continue Reading Mortgage Rates Continue to Slide
Additional Reading: Top Mortgage Industry News & Headlines
Mortgage Application Activity Up 10.4%
The Refinance Index increased 11% from the previous week and was 10% higher than the same week one year ago. Continue Reading Mortgage Application Activity Up 10.4%
Anchor Loans Debuts TPO Channel
“At Anchor Loans we are obsessed with delivering exceptional customer value,” said Tim Landwehr, co-chief revenue officer. Continue Reading Anchor Loans Debuts TPO Channel
FTC Returns $1.2 Million to Consumers from Loan Modification Scheme
The FTC is sending payments to 6,261 consumers who will each receive $201.34. Continue Reading FTC Returns $1.2 Million to Consumers from Loan Modification Scheme
Your Questions Answered: Best Home Buying Tips for First-Timers
Source: Housing Logic --- Buying your first home is a big freaking deal. How do you know which loan is right for you? How do you swing the down payment? How do you ensure your offer isn’t too low or too high? What don’t you know that you don’t know? Ack! Breathe,...
Made a profit selling your home? Here’s how to avoid a tax bomb this filing season
Source: CNBC --- If you recently made a profit selling your home, it may come with a costly surprise this filing season: capital gains taxes on your windfall. In 2021, the average U.S. home seller scored a profit of $94,092, up 71% from $55,000 two years ago,...
‘The major question is whether rising rates will quench housing demand’: Existing-home sales surge higher, but could be set for a downturn
Source: Market Watch --- The numbers: Existing-home sales increased by nearly 7% between December and January, hitting a seasonally-adjusted, annual rate of 6.5 million, the National Association of Realtors said Friday. Compared to a year ago, sales were down more...
Blowing the Whistle
Source: Scotsman Guide --- As a nearly $9 million settlement between federal regulators and Trustmark National Bank makes painfully evident, few things present more unwelcome press for mortgage bankers and servicers than accusations of redlining or discrimination....
Thriving cities in Utah’s housing market. Do I keep looking even during the housing shortage?
Source: ABC 4 --- As of today, Utah has a housing shortage of 44,500 units. Should you keep trying to get into a home? Ace Allack of People’s Home Equity, has served as President of Salt Lake Home Builders Association and has insight into what makes our market tick....
A New Bill Could Shield New Yorkers from Steep Rent Increases
Source: Thrillist --- With New York City rent prices recently seeing their biggest increase in over a decade, many New Yorkers are looking for any way they can to save on rent. A new bill under consideration in the state legislature could provide help by setting rent...
Are Closing Costs Tax Deductible?
Source: House Logic --- The answer to whether closing costs are tax deductible -- or mortgage interest and property taxes for that matter -- is often maddeningly, “It depends." Basically, you'll want to itemize if you have deductions totaling more than the standard...
Mortgage stimulus for homeowners in each state explained – can you get up to $80,000?
Source: The U.S. Sun --- The American Rescue Plan Act set aside stimulus money for states to help people at risk of losing their homes. This is known as the Homeowner Assistance Fund (HAF), which provides nearly $10 billion for states and other US territories. All...
Why mortgage rates just crossed 4%, and what you can do about it
Source: Bankrate --- In early 2021, mortgage rates blew through the 3 percent threshold. Now, with the coronavirus pandemic mostly under control but inflation raging out of control, rates have topped 4 percent. After hitting an all-time low in January 2021, mortgage...
The average size of a new mortgage just set a record, as home prices continue to climb
Source: CNBC --- Homebuyers are facing one of the priciest housing markets in history, and that means they need larger mortgages than ever before. While mortgage demand is falling, due to rising interest rates, the size of the average purchase loan application just...
