Mortgage Industry News
Mortgage Application Activity Drops as Home Prices Rise
The first quarter home prices were up on a year-over-year basis in 49 states and the District of Columbia; Hawaii was the lone state with a price decline. Continue Reading Mortgage Application Activity Drops as Home Prices Rise
Mortgage Rates Inch Up
The 30-year fixed-rate mortgage averaged 6.86% as of May 22, up from last week when it averaged 6.81%. Continue Reading Mortgage Rates Inch Up
Mortgage Rates Record Slight Uptick
The 30-year fixed-rate mortgage averaged 6.49% as of Aug. 15, up from last week when it averaged 6.49%. Continue Reading Mortgage Rates Record Slight Uptick
Mortgage Application Activity Up Nearly 17%
The Refinance Index increased by a vibrant 35% from the previous week. Continue Reading Mortgage Application Activity Up Nearly 17%
Mortgage Credit Availability at 9-Month High
MBA’s Joel Kan attributed the rise to “increased conventional loan offerings such as ARMs and cash-out refinance loans.” Continue Reading Mortgage Credit Availability at 9-Month High
7 Secrets No One Tells You That’ll Help You Buy a House Right Now
Source: Realtor --- Once upon a time, wannabe homebuyers could leisurely peruse a variety of properties in their price range, mull over their choices, put in an offer, and presume they’ll be moving in soon enough. But how things have changed! In today’s hot seller’s...
Mortgage Goals: Which One Is Right for You?
Source: Realtor --- You finally bought the perfect midcentury modern home with a backyard spacious enough for entertaining your family and friends. And you even scored an outstanding mortgage loan with a fantastic 30-year fixed rate. Well done! So you can sit back and...
How to avoid real estate scams
Source: The Washington Post --- Real estate transactions require moving large sums of money from buyers to sellers, a process that unfortunately entices scammers. According to the National Association of Realtors and FBI data, more than 13,500 people were victims of...
What the Fed’s March rate hike means for homebuyers and sellers
Source: Bankrate --- In an effort to rein in raging inflation, the Federal Reserve boosted interest rates in mid-March. The move had been anticipated by the mortgage market — mortgage rates rose to 4.4 percent in a recent Bankrate survey of lenders, which was...
The housing market enters uncharted waters
Source: Fortune --- Fed Chair Jerome Powell is done sitting idly on the sideline as inflation burns away Americans’ purchasing power. The plan? Draw upon the central bank's decades-old inflation playbook by increasing rates until demand pulls back and price growth...
Don’t Get Caught Off Guard by Closing Costs
Source: Keeping Current Matters --- As a homebuyer, it’s important to plan and budget for the expenses you’ll encounter when you purchase a home. While most people understand the need to save for a down payment, a recent survey found 41% of homebuyers were surprised...
7 Things Today’s First-Time Homebuyers Should Consider
In today’s market, things are a little intense for first-time home buyers. But just because house prices are skyrocketing and interest rates are higher than what they were a year ago doesn’t mean buying a home is out of reach for you. In this article, we help walk...
How to Shop Around for a Mortgage Loan
Source: House Logic --- Whether you’re shopping for new bed sheets or a new car, the drill is usually the same. Hit the reviews, check with friends, and scope out the best deal. After all, who wants to buy a car that racks up repair bills right away? Yet when picking...
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...
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