Mortgage Industry News
Mortgage Applications for New Home Purchases Down in May
The average loan size for new homes increased from $376,992 in April to $379,209 in May. Continue Reading Mortgage Applications for New Home Purchases Down in May
Premier Mortgage Resources Debuts Specialty Products Division
“The mortgage landscape is evolving, and so are the needs of our clients,” said Cory Swain, CEO. Continue Reading Premier Mortgage Resources Debuts Specialty Products Division
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
Mortgage Application Activity Up 14.2%
The MBA also reported mortgage applications for new home purchases in August were up 4.4% year-over-year. Continue Reading Mortgage Application Activity Up 14.2%
Report: Mortgage Payments Cheaper Than Rent in 22 of Top 50 Metros
Zillow attributed the latest statistics to declining mortgage rates. Continue Reading Report: Mortgage Payments Cheaper Than Rent in 22 of Top 50 Metros
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...
The odds of a home price decline hitting your local housing market, as told by one interactive chart
Source: Fortune --- Fed Chair Jerome Powell has made it clear: The central bank is done sitting on the sidelines as inflation chips away at the value of the dollar. The plan? Put upward pressure on interest rates until price growth relents. Historically speaking, that...
Blazing Your Own Trail
Source: Scotsman Guide --- Securing a mortgage for commercial real estate can be a complex and time-consuming process. It is challenging for borrowers who need financing for their projects to decide whether to use the capital-markets team offered by the same company...
Adjustable-rate mortgage demand doubles as interest rates hit the highest since 2009
Source: CNBC --- Mortgage rates moved even higher last week, crashing refinance demand and prompting potential homebuyers to apply for riskier loan products which offer lower rates. Total mortgage application volume fell 8.3% last week compared with the previous week,...
A Rising Star
Source: Housing Wire --- When it comes to commercial real estate, the post-pandemic economy has grounded some asset classes while others are now rising stars. Multifamily and industrial are two sectors proving especially resilient to recent economic hardships....
Are Mobile & Manufactured Homes Real or Personal Property?
The difference between mobile and manufactured homes is the date they were built. According to HUD, mobile homes were factory-built before June 15, 1976, and manufactured homes were built after that date. Continue Reading Are Mobile & Manufactured Homes Real or Personal Property?
How Homeownership Can Help Shield You from Inflation
Source: Keeping Current Matters --- If you’re following along with the news today, you’ve likely heard about rising inflation. You’re also likely feeling the impact in your day-to-day life as prices go up for gas, groceries, and more. These rising consumer costs can...
Americans Are Buying Smaller Homes as Prices Skyrocket
Source: Redfin --- Americans are buying smaller homes than they were at the height of the pandemic. The typical U.S. home that went under contract in March was 1,720 square feet, down 1.8% from 1,751 square feet the same time last year and roughly the same size as the...
Russian threat keeps mortgage cybersecurity experts on alert
Source: National Mortgage News --- Russia’s hostilities in Ukraine have already impacted the U.S. housing market and as the war goes on, the mortgage industry’s cybersecurity experts are bracing for tests of their defenses. The uncertainty caused by the initial...
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...
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