Mortgage Industry News
Single-Family Housing Starts Down 2.1%
Single-family housing completions in April were at a rate of 943,000, down 8% from the revised March rate of 1.02 million. Continue Reading Single-Family Housing Starts Down 2.1%
Mortgage Rates Inch Up
The 30-year fixed-rate mortgage averaged 6.81% as of May 15. Continue Reading Mortgage Rates Inch Up
Monthly Mortgage Payments Record First Annual Decline in 4 Years
Redfin said monthly payments dipped 0.1% dip from one year ago. Continue Reading Monthly Mortgage Payments Record First Annual Decline in 4 Years
Mortgage Rates Take a Small Dip
The 30-year fixed-rate mortgage averaged 6.46% as of Aug. 22. Continue Reading Mortgage Rates Take a Small Dip
GSEs Update Private Mortgage Insurer Eligibility Requirements
The updated standards will be implemented through a 24-month phased-in approach, with a fully effective date of Sept. 30, 2026. Continue Reading GSEs Update Private Mortgage Insurer Eligibility Requirements
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...
Nearly One-Third of Homeowners Have a Mortgage Rate Far Below Today’s Level, Prompting Some to Stay Put
Source: Redfin --- About half (51%) of U.S. homeowners with mortgages have a mortgage rate under 4%—substantially below today’s level of 5%. About one-third (32%) of all homeowners—including those without mortgages—have a mortgage rate under 4%. With rates now at...
FHA adds 40-year loan term to COVID-19 arsenal
Source: Housing Wire --- The Federal Housing Administration told mortgage servicers that they can now offer a 40-year loan term as a COVID-19 recovery option. Servicers for FHA-insured mortgages can offer the modification immediately, according to the latest update to...
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