Mortgage Industry News
Georgia Woman Pleads Guilty for Role in 3-Year Mortgage Fraud Scheme
Kimberly Johnson is scheduled to be sentenced on April 11. Continue Reading Georgia Woman Pleads Guilty for Role in 3-Year Mortgage Fraud Scheme
Mortgage Credit Availability Inched Up in December
The MBA’s Mortgage Credit Availability Index (MCAI) was up by 0.7% to 96.6. Continue Reading Mortgage Credit Availability Inched Up in December
Mortgage Rates Soar Above 7%
The 30-year fixed-rate mortgage averaged 7.10% as of April 18, up from last week when it averaged 6.88%. Continue Reading Mortgage Rates Soar Above 7%
Portfolio+ Launches Reverse Mortgage Product
The Portfolio+ platform is designed to cover all stages from origination to funding. Continue Reading Portfolio+ Launches Reverse Mortgage Product
Mortgage Application Activity Rises Again
The seasonally adjusted Purchase Index increased 5% from one week earlier and the unadjusted index was up by 6%. Continue Reading Mortgage Application Activity Rises Again
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...
First-time homebuyer? Real estate experts offer advice in crazy market
Source: Fox 5 New York --- It feels like a never-ending uphill battle for many homebuyers across the United States. "My experience with looking for a house has been frustrating," one Georgia resident told FOX Television Stations Group. "I have been texting my agent...
Yahoo Finance Video Housing market: Millennials bypass starter homes for dream homes
Source: Finance Yahoo --- Yahoo Finance's Vera Gibbons joins the Live show to discuss the real estate market amid the unexpected house hunting competition among younger buyers. AKIKO FUJITA: Well, record low inventory has sparked bidding wars for homes in some of the...
5 implications the omnibus spending bill has for mortgages
Source: National Mortgage News --- The $1.5 trillion omnibus spending bill President Biden was expected to sign at deadline Friday promises to bring relief to the single- and multifamily mortgage markets by heading off several threats to operations supporting the...
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