Mortgage Industry News
Mortgage Rates Inch Closer to 7% Level
The 30-year fixed-rate mortgage averaged 6.93% as of Jan. 9. Continue Reading Mortgage Rates Inch Closer to 7% Level
Ally Financial to End Mortgage Originations
The digital-only bank’s layoffs will affect less than 5% of its workforce. Continue Reading Ally Financial to End Mortgage Originations
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
Real estate market in 2022 will ‘remain very strong,’ expert says
Source: Fox Business --- Compass Executive Vice President Mike Aubrey argued on Wednesday that 2022 will still experience a "really good real estate market," but acknowledged that the "frenzy of 2021" likely won't happen again. Aubrey stressed, however, that the...
Demand For Vacation Homes Up 77% From Pre-Pandemic in December
Source: Redfin --- Demand for vacation homes was up 77% from pre-pandemic levels in December. That’s slightly below the 80% increase in November and the record 92% gain in January, but up significantly from the 2021 low hit in August.
Biggest Portland real estate bidding wars of 2021: Homes that sold up to $605,000 over asking price
Source: The Oregonian/OregonLive--- Last year was a head spinner for home shoppers. The desire to take advantage of historic low mortgage interest rates and move to a larger place to work and staycation during the coronavirus pandemic was dashed for some...
The Absolute Cheapest State to Buy A House Is…
Source: Apartment Therapy --- When you’re buying a new home, it’s all about location, location, location. Based on where you decide to live, you may have lower home costs, but pay more in utilities. Or, you could pay a higher mortgage but your property taxes will...
Virginia launches mortgage relief plan for distressed borrowers
Source: National Mortgage News --- Virginia began accepting applications on Monday for its mortgage relief program, with financial assistance provided through the federal government’s Homeowner Assistance Fund. The state received more than $258 million from the U.S....
Home affordability plummeted in fourth quarter
Source: Housing Wire--- Homeownership continues to swerve into unaffordable territory, with median-priced single-family homes becoming less affordable in three-quarters of the nation’s market, a report published by ATTOM Data Solutions last week said. ...
Red-Hot Housing Market Fuels Mortgage Borrowing Record
Source: The Wall Street Journal --- Americans borrowed more than ever to buy homes in 2021. Mortgage lenders issued $1.61 trillion in purchase loans in 2021, according to estimates by the Mortgage Bankers Association. That is up slightly from $1.48 trillion in 2020...
New York company makes City’s largest real estate purchase
Source: Santa Monica Daily Press --- The largest real estate deal in the city’s history closed this week with the sale of eight properties to New York based real estate company Tishman Speyer. According to a statement from brokerage Walker & Dunlop, Tishman’s...
Mortgage Rates Increased to 3.27% Last Week. Here’s What Experts Forecast Amid Rising Inflation and COVID Cases
Source: Next Advisor --- Mortgage rates increased slightly by 0.01% last week to 3.27%, a movement consistent with what housing experts have been forecasting for months: Mortgage rates will rise in 2022. Rates have been moving up and down slightly amid growing...
Non-profit pays off mortgage on home of U.S. Marshal killed in Baton Rouge
Source: brproud.com --- JACKSON, Miss. (AP) — A non-profit group has fully paid the mortgage of a U.S. Marshal killed in the line of duty at a motel in Baton Rouge, Louisiana. The Tunnel to Towers Foundation in a news release announced New Year’s Eve that it had paid...
