Mortgage Industry News
Mortgage Rates Rise Ahead of Christmas
The 30-year fixed-rate mortgage averaged 6.72% as of Dec. 19. Continue Reading Mortgage Rates Rise Ahead of Christmas
CFPB: Mortgage Servicers Preying on Divorced and Widowed Borrowers
The CFPB report also noted that domestic violence survivors face additional problems with servicers. Continue Reading CFPB: Mortgage Servicers Preying on Divorced and Widowed Borrowers
NAR and MBA Urge Regulators and GSEs to Confirm Support for Buyer Financing
The groups said a confirmation “will sustain the current flow of mortgage capital to home buyers without change or delay.” Continue Reading NAR and MBA Urge Regulators and GSEs to Confirm Support for Buyer Financing
Mortgage Application Activity Slows to a Crawl
The refinance share of mortgage activity decreased to 30.8%. Continue Reading Mortgage Application Activity Slows to a Crawl
Citizens Trust Bank Unveils Down Payment Assistance Grant Program
Eligible borrowers can receive a maximum of $2,000 grant contribution at the residential mortgage loan closing. Continue Reading Citizens Trust Bank Unveils Down Payment Assistance Grant Program
What Is a Lien on a House?
Source: Point 2 Homes --- Understanding How Liens Work A property lien is a legal claim against a property, allowing the creditor to use it as collateral to collect what they’re owed if the debtor cannot make payments. Consider this common scenario to better...
Most Equity Rich Homes in 2021 Located in Western U.S.
Source: World Property Journal --- According to ATTOM Data's fourth-quarter 2021 U.S. Home Equity & Underwater Report, 41.9 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, meaning that the...
Housing wealth is setting new records for both owners and sellers
Source: CNBC --- The stunning jump in home values over the course of the Covid-19 pandemic has given U.S. homeowners record amounts of housing wealth. What they choose to do with it could have impacts on the broader economy. Annual home price gains averaged 15% in...
8 Simple Rules for Negotiating Your Offer and Getting That House
Source: Houselogic --- Here’s the dream: Your offer is perfect, you don’t need to negotiate, and you can spend the next few weeks addressing more pressing home ownership questions like, “Why is it called wainscoting?” and “Do I want a new couch in blush or emerald...
MILLENNIAL DEMAND IS DRIVING PRICES UP IN NEIGHBORHOODS WITH KIDS
Source: RISMedia --- With a record number of millennials set to reach key age milestones for homebuyers over the next two years, experts say this could push already accelerated price gains even further. This, according to a new report from Zillow that found home...
Why the blockbuster January jobs report means your mortgage and credit card payments will get more expensive
Source: Business Insider --- The January jobs report was hugely positive. Its effects on your debt won't be. Data published Friday showed the US adding 467,000 nonfarm payrolls last month, beating expectations and signaling the Omicron wave did little to slow the...
Housing Market Update: Expect Price Growth to Slow, Sales to Stay Flat as Mortgage Rates Approach 4% This Year
Source: Redfin --- Home-price growth, which has been in the double digits since Summer 2020, is expected to slow to an annual rate of 7% by the end of 2022, according to a new forecast by Redfin economists. Home sales are expected to remain relatively flat throughout...
Millions of Americans Have Discovered the Benefits of Multigenerational Households
Source: Keeping Current Matters --- If your needs are changing, you may be thinking about sharing a home with additional loved ones, such as grandparents, adult children, or other extended family members. Whether it’s for financial or health-related circumstances, or...
SRE Technologies Promoting Homeowners Portal in San Diego
Just a few weeks after the company launched a multi-million dollar consumer advertising campaign in Utah, SRE Technologies Inc., developer of an online destination designed to save home loan borrowers money by connecting them with select mortgage originators,...
Mortgage application process just as stressful — or worse — than buying a home, study finds
Source: Scotsman Guide --- A new report from Mastercard-backed data company Finicity has shed light on an uncomfortable perspective for the lending industry: As frustrating as the homebuying experience can be in today’s torrid, ultracompetitive marketplace, applying...
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