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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
Additional Reading: Top Mortgage Industry News & Headlines
loanDepot Unveils melloNow Underwriting Engine
The company has been beta-testing the system for the last several quarters. Continue Reading loanDepot Unveils melloNow Underwriting Engine
Mortgage Credit Availability Down in November
“Credit availability in November declined to its lowest level in four months, driven by reduced offerings of non-QM and jumbo loan programs,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Down in November
Mortgage Rates Continue to Plummet
“The 30-year fixed-rate mortgage averaged near 7%, down from nearly 7.80% just six weeks ago,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates Continue to Plummet
The housing market was on a wild ride this year. Here’s what to expect in 2022
Source: KSL.com --- NEW YORK — The U.S. housing market has had a white-hot year. Home sales are on track to reach the highest level in 15 years, with an estimated 6 million homes sold in 2021. But whether you benefited from this surge depended a lot on if you...
Let’s Move In Together (And You Can Help Me Pay My Mortgage)
Source: Bloomberg --- First comes love and then comes ... a frank discussion about the realities of moving in together. There’s one question that comes up a lot among couples and is bound to be even more commonplace in a hot housing market: What happens when you’re...
Millennials And Housing, Part 4: Mind The Gap: Intergenerational Housing Wars
Source: Forbes --- Our study on U.S. Millennials and their difficult path to home ownership has spotlighted the role family and older generations play in hindering—but also helping—25 to 40-year-olds in their quest to buy a home. Discussion of this issue requires both...
Should You Hire a Mortgage Broker or Do It Yourself?
Source: Go Banking Rates --- When you’re ready to buy a home, you may wonder if you should try to shop for a mortgage on your own or reach out to mortgage broker for help. A mortgage broker can be very helpful in the process, especially for people who are...
Mortgage delinquencies continued to improve in November
Source: Housing Wire --- The delinquency landscape continues to improve on a monthly basis, with the total delinquency rate in the nation falling to 3.59% in November, according to Black Knight’s November mortgage monitor published this week. In October, the analytics...
5 tech trends that will move mortgages and housing in 2022
Source: Bankrate --- In the Amazon age, consumers are more pampered – and less patient – than ever. Tap your phone and, voilà – hot food from your favorite restaurant arrives in minutes. High-end electronics appear on your doorstep in hours. However,...
Non-Profit Bidders Successfully Purchase More Than 800 Mortgage Notes Through HUD-Held Vacant Loan Sale
Source: My ChesCo --- WASHINGTON, D.C. — The U.S. Department of Housing and Urban Development’s Office of Asset Sales announced that 23 mission-driven non-profit organizations recently participated – and 11 were awarded pools – in its December 1, 2021, competitive bid...
Lending Platform Ledn Launching Bitcoin-Backed Mortgage Product, Raises $70 Million
Source: News Bitcoin --- Bitcoin-Backed Mortgage — ‘The First Product of Its Kind to Hit the Market’ Ledn announced Wednesday “the impending launch of a bitcoin-backed mortgage product,” which the company says is “the first product of its kind to hit the market.” The...
Omicron Variant Hits the Luxury Real Estate Market
Source: Realtor --- The recent volatility in the stock market and cryptocurrencies, fueled by anxiety over the omicron variant, has some would-be homebuyers pressing pause on pricey real estate purchases. That’s been the case for New York native Neil Kapoor, 36, who...
What You Should Know About Mortgage Prepayment Penalties
Source: Forbes --- Purchasing a real estate property through a mortgage is a substantial financial commitment and thus, the underlying terms and conditions should not be ignored. The property buying process includes contractual agreements that may indicate mortgage...
