Mortgage Industry News
Mortgage Rates in Mild Decline
The 30-year fixed-rate mortgage averaged 6.81% as of April 24. Continue Reading Mortgage Rates in Mild Decline
Mortgage Application Activity Stumbles by 12.7%
The seasonally adjusted Purchase Index decreased 7% from one week earlier. Continue Reading Mortgage Application Activity Stumbles by 12.7%
Motto Mortgage Opens First New Hampshire Office
The new office was established by David Duplessis, who brings 35 years of industry experience. Continue Reading Motto Mortgage Opens First New Hampshire Office
Mortgage Application Activity in 4% Upswing
The FHA share of total applications increased to 13.5% while the VA share increased to 15.2%. Continue Reading Mortgage Application Activity in 4% Upswing
Euclid Mortgage Creates Mortgage Advisory Panel
Andrew Bon Salle, Claudia Merkle and Ivy Zelman were named to the panel. Continue Reading Euclid Mortgage Creates Mortgage Advisory Panel
VA loan misconceptions continue to climb in aggressive real estate market
Source: Spectrum News --- TAMPA, Fla. — As the real estate market in the Bay Area and across the country remains extremely aggressive, for our veterans it’s becoming even more difficult as they try to use one of their service benefits — the VA loan. Ten months ago,...
This Utah metro area ranks near top of the nation for home price increases
Source: Deseret News --- A new national housing report has again placed Utah’s capital city among the top in the nation for housing markets with the biggest home price increases. Salt Lake City ranked among the top five of 51 metro areas across the nation for the...
A LOOK AHEAD FOR THE US LUXURY REAL-ESTATE MARKET
Source: International Banker --- Many market predictions come out at the start of a new year, and if the last couple of years have taught us anything, it’s that the crystal ball of real estate is never crystal clear. Still, with 2022 well underway, we can confidently...
Panicked Over Rising Interest Rates? How Homebuyers Can Still Get a Great Mortgage Today
Source: Realtor --- This real estate market is unlike anything we have ever seen before. With too few homes for too many buyers, bidding wars are common, driving up prices. Adding to the pressure, mortgage interest rates have shot up, and just crossed the 4% threshold...
No Stopping This Train
Source: Scotsman Guide --- Technology has been uniquely poised for more than 15 years to transform the time-consuming and paper-centric process of closing a mortgage, but it’s taken a major event — a global pandemic — that requires physical distancing to really get...
The Fed makes its move – and more rate hikes are coming
Source: Housing Wire --- The Federal Open Market Committee on Wednesday raised the federal funds rate for the first time in four years, marking an end to the easy money that gave rise to the hottest mortgage market in U.S. history. The FOMC, as was predicted, raised...
Mortgage stress set to rise with interest rates and recent home buyers will be hit hardest
Source: ABC --- Interest rates are already rising in many countries and are almost certain to rise in Australia sometime this year. But how prepared are heavily indebted households, especially those who just paid top dollar for a home in the past couple of years? Up...
A resurgence for adjustable mortgages
Source: Jacksonville Daily Record --- Adjustable-rate mortgages are back. “Buyers are addicted to the lower interest rates. You can get between a half and a full point for a five- to seven-year ARM,” said John Adams, area manager of loanDepot Jacksonville’s offices....
Building Blocks: The 10 Cheapest Cities in America To Buy a Newly Constructed Home
Source: Realtor --- Buyers have always paid dearly for the privilege of buying a newly built home. From custom countertops to increased energy efficiency, to that oh, so seductive new-home smell, the benefits aren’t tough to discern. Younger buyers these days largely...
Housing inventory in Dallas area sinks from bad to worse, homes getting ‘upwards of 50 offers’
Source: WFAA --- DALLAS — The supply of houses in the Dallas area has sunk from bad to worse for buyers, with market inventory decreasing by more than half year over year. The decrease of 53.3% locally in January is more than three times the national average...
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