Mortgage Industry News
Gen Z Accounts for 12% of VA Purchase Loan Market
Gen Z homebuyers using VA loans are most concentrated near large military communities like San Antonio, Virginia Beach, and Colorado Springs. Continue Reading Gen Z Accounts for 12% of VA Purchase Loan Market
Mortgage Application Activity Down by 2.6%
The refinance share of mortgage activity increased to 37.3% of total applications from 36.7% in the previous week. Continue Reading Mortgage Application Activity Down by 2.6%
Number of Loans in Forbearance Up in August
The share of Fannie Mae and Freddie Mac loans in forbearance increased 1 basis point to 0.13% in August. Continue Reading Number of Loans in Forbearance Up in August
DOJ Announces $2.4 Million HECM Settlement with Nutter
The company exited the mortgage business in 2022. Continue Reading DOJ Announces $2.4 Million HECM Settlement with Nutter
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
How and Why to Refinance Your Mortgage
Source: Nerdwallet --- Definition of mortgage refinance A mortgage refinance replaces your current home loan with a new one. Often people refinance to reduce the interest rate, cut monthly payments or tap into their home’s equity. Others refinance a home to pay off...
Home Buyers Are Finding Ways to Take the Sting Out of Rising Mortgage Rates
Source: Realtor.com --- Mortgage rates are at their highest level in more than a decade. Home buyers are fighting back. More borrowers are paying fees to cut their interest rates and making higher down payments to lower the amount they have to finance, lenders and...
Real estate expert on whether home prices could come down amid Fed rate hikes
Source: Fox Business --- First American Financial Corporation chief economist Mark Fleming discussed where he believes home prices are going amid expected rate hikes from the Federal Reserve as a way to tame surging inflation. Fleming, who leads an economics team...
The New Rules of What It’ll Truly Take To Save Up for a House Today
Source: Realtor.com --- If you’re saving for a down payment for a home—particularly your first—you probably know this is one tricky real estate moment. With inflation sending prices spiraling, mortgage interest rates ticking up, and biddings wars on homes more the...
Utah’s housing market is tough, but those with disabilities face additional barriers, advocates say
Source: Deseret News--- He said he hadn't known he could find assistance through his military benefits. The clinic restored him to health, but the help didn't end there. Another veteran got him approved for an apartment with a voucher, Ware said. Without the help,...
A more “normalized” housing market is on the horizon: NAR
Source: Housing Wire --- For the fifth consecutive month, pending home sales declined in March from February, down 1.2%, signaling a potential return to “much calmer” conditions, according to the National Association of Realtors. Only the northeast region saw an...
US home prices rose by nearly 20% year-over-year in February
Source: CNN --- Prices rose 19.8% year-over-year in February, an even higher rate than the 19.2% growth seen in January, according to the S&P CoreLogic Case-Shiller US National Home Price Index. Phoenix, Tampa and Miami reported the highest year-over-year gains...
Housing industry getting hit by ‘perfect storm,’ billionaire real estate developer warns
Source: Fox Business --- Billionaire real estate developer Jay Bloom warned consumers Thursday the housing industry is getting hit by the "perfect storm." "We're in the middle of a real estate boom like we haven't seen in the past," Bloom told "Cavuto: Coast to...
Pandemic Homebuyers Flocked to the Sun Belt for Better Prices. Now, You’ll Need 40% More Income to Afford a Home There.
Source: Redfin ---Homebuyers in nearly every part of the country have felt the impact of surging housing prices since the start of the pandemic—but especially those in the Sun Belt, which has seen costs skyrocket even more than other areas as out-of-towners flock in....
Housing Market Update: Typical Buyer’s Monthly Payment Up 39%—The Biggest Annual Gain on Record
Source: Redfin --- The typical homebuyer’s monthly mortgage payment shot up 39%, the largest year-over-year gain on record as the average 30-year-fixed rate hovered at a 12-year high of 5.1%. Redfin’s data on homebuyer mortgage payments is based on asking-price data...
Recent Posts
FBI Adds Fugitive Real Estate Fraudster to Most Wanted List- Florida Home Sales Achieve 11th Straight Month of Year-Over-Year Gains
- Cherokee Nation Bans Hyperscale Data Center Development on Tribal Land
- Tri Pointe Homes to Launch Sales at New North Carolina Townhome Community
- Report: Renting a Starter Home is Cheaper Than Buying in the 50 Largest Met…
