Mortgage Industry News
Mortgage Rates Decline Again
The 30-year fixed-rate mortgage averaged 6.77% as of June 26. Continue Reading Mortgage Rates Decline Again
Mortgage Application Payments Increased in May
The national median mortgage payment for conventional loan applicants was $2,235, up from $2,206 in April and up from $2,226 in May 2024. Continue Reading Mortgage Application Payments Increased in May
Mortgage Rates Remain Flat
The 30-year fixed-rate mortgage averaged 6.35% as of Sept. 5, unchanged from last week. Continue Reading Mortgage Rates Remain Flat
Mortgage Application Activity Up 1.6%
Among the federal programs, the FHA share of total applications decreased to 14.6% from 15.3% the week prior. Continue Reading Mortgage Application Activity Up 1.6%
Mortgage Rates Drop Again
The 30-year fixed-rate mortgage averaged 6.35% as of Aug. 29. Continue Reading Mortgage Rates Drop Again
Thriving cities in Utah’s housing market. Do I keep looking even during the housing shortage?
Source: ABC 4 --- As of today, Utah has a housing shortage of 44,500 units. Should you keep trying to get into a home? Ace Allack of People’s Home Equity, has served as President of Salt Lake Home Builders Association and has insight into what makes our market tick....
A New Bill Could Shield New Yorkers from Steep Rent Increases
Source: Thrillist --- With New York City rent prices recently seeing their biggest increase in over a decade, many New Yorkers are looking for any way they can to save on rent. A new bill under consideration in the state legislature could provide help by setting rent...
Are Closing Costs Tax Deductible?
Source: House Logic --- The answer to whether closing costs are tax deductible -- or mortgage interest and property taxes for that matter -- is often maddeningly, “It depends." Basically, you'll want to itemize if you have deductions totaling more than the standard...
Mortgage stimulus for homeowners in each state explained – can you get up to $80,000?
Source: The U.S. Sun --- The American Rescue Plan Act set aside stimulus money for states to help people at risk of losing their homes. This is known as the Homeowner Assistance Fund (HAF), which provides nearly $10 billion for states and other US territories. All...
Why mortgage rates just crossed 4%, and what you can do about it
Source: Bankrate --- In early 2021, mortgage rates blew through the 3 percent threshold. Now, with the coronavirus pandemic mostly under control but inflation raging out of control, rates have topped 4 percent. After hitting an all-time low in January 2021, mortgage...
The average size of a new mortgage just set a record, as home prices continue to climb
Source: CNBC --- Homebuyers are facing one of the priciest housing markets in history, and that means they need larger mortgages than ever before. While mortgage demand is falling, due to rising interest rates, the size of the average purchase loan application just...
Servicing platforms for mortgage lenders will be buffer for rising rates, says Argus’ Heal
Source: CNBC --- Kevin Heal, Argus Research, joins ‘Power Lunch’ to discuss which mortgage lending stocks are best set up for growth and how rising interest rates will affect the sector.
Is Costco Good for Mortgages?
Source: US News --- Costco is known for selling jumbo quantities of food and toiletries, rotisserie chickens and pizza, and furniture and large appliances from its warehouse-style stores across the country. The members-only wholesale chain also offers something even...
Lovett: House to consider housing choice voucher bill
Source: Eagle Times --- How many of us have experienced financial hardship due to circumstances beyond our control? Job markets, education and experience levels, family dynamics, and health all impact our earning ability. When that ability is outpaced by the cost of...
Could Luxury Homes One Day Fill America’s Languishing Office Buildings?
Source: Realtor --- As American manufacturing declined over the decades, major cities inherited vast stretches of disused factories and warehouses. Eventually, savvy owners and developers redesigned and renovated that manufacturing space to create desirable downtown...
Recent Posts
A Phil Hall Op-Ed: So, I Asked ChatGPT to Predict 2027’s Housing Mark…- Mid-Atlantic Home Sales Decelerate While Active Listings Rise
- Maine Home Sales Declined 10% in August While Prices Increased
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- Did Mortgage Rates Top 7%? It Depends on Your Data Source
