Mortgage Industry News
Mortgage Application Payments Down in September
Homebuyer affordability improved last month as the national median payment applied for by purchase applicants dropped by 0.8% from $2,057 in August to $2,041 in September, according to the Mortgage Bankers Association's (MBA) Purchase Applications Payment Index. The...
Mortgage Rates Up for Fifth Straight Week
The 30-year fixed-rate mortgage averaged 6.72% as of Oct. 31. Continue Reading Mortgage Rates Up for Fifth Straight Week
FTC Begins Claims Process for Victims of Lanier Law’s Mortgage Relief Scam
The deadline to file a claim is March 18. Continue Reading FTC Begins Claims Process for Victims of Lanier Law’s Mortgage Relief Scam
Mortgage Applications for New Home Purchases Up 22.2%
The average loan size for new homes increased from $390,049 in November to $405,368 in December. Continue Reading Mortgage Applications for New Home Purchases Up 22.2%
Mortgage Rates Drop to 8-Month Low
The 30-year fixed-rate mortgage averaged 6.60% as of Jan. 18. Continue Reading Mortgage Rates Drop to 8-Month Low
Liz Weston: Shopping for a mortgage? Your credit score may take a small hit
Source: Oregon Live --- Dear Liz: We’re trying to refinance a mortgage. All of the mortgage lenders claim that checking our credit scores will not affect the scores. However, that is not true. What gives? The three credit bureaus all list “too many inquiries” and...
Green mortgages: could your loan help make Britain greener?
Source: The Guardian --- Homes account for more than a fifth of the UK’s total CO2 emissions, which may help explain why the government and others believe green mortgages could be a gamechanger for moving to a sustainable future. Although they have been around in one...
Mortgage rates fall for first time in weeks, Freddie Mac data shows
Source: Fox Business --- Mortgage interest rates fell for the first time in weeks in early November, hitting 3.09% annual percentage rate (APR), according to the latest Primary Mortgage Market Survey from Freddie Mac. But despite this drop, experts said rates will...
Higher interest rates mean more expensive mortgages
Source: The Economist --- If the economy is a machine, then monetary policymakers are backroom engineers. On November 4th they held the Bank of England’s interest rate steady at 0.1%, but seem poised to tweak it upwards soon. Investors expect the rate to rise above 1%...
Real estate investments: No one is immune to defaults
Source: The Salt Lake Tribune --- Defaults are always a possibility for anyone lending in real estate, whether they are acting as an individual private lender or investing in “crowdfunded” real estate development. How the default situation is handled can be...
Mortgage Application: What Does It Contain?
Source: Forbes --- The mortgage application process can be lengthy. When filling out your application, you’ll need to provide a handful of personal and financial information—plus the documents to support it. Understanding what goes into a mortgage application can help...
YEAR-END OUTLOOK: CLIMBING MORTGAGE RATES STRAIN BUYING POWER IN 2022
Source: Ris Media--- Homeowners will likely look at the past year of mortgage rate performance with fondness or even regret as the days of historic lows fade. Based on recent Freddie Mac reports, 30-year fixed-rate mortgages (FRM) at 3.14%, are breaking from months of...
City housing report shows rising mortgage, rental costs
Source: IDS News --- The Bloomington City Council discussed some of the current challenges of increasing home-owner and renter costs facing Bloomington residents regarding renting and home ownership Wednesday. In a comprehensive housing report from the City of...
Burning Mortgage Question: Should You Retire, Then Pay Off Your Mortgage?
Source: Green Entrepreneur --- What to do with that mortgage? Many soon-to-be retirees wonder whether they should pay it off, but what about current retirees? Here's how you can make that determination. A common question: Should you pay off your mortgage before you...
2022 home prices will keep rising at or near double digits, predicts the analyst who called the current housing boom
Source: Fortune --- For this writer, Ed Pinto makes the most accurate predictions of all the real estate world’s data-crunchers on where housing prices are heading. Pinto, director of the American Enterprise Institute’s Housing Center and former chief credit officer...
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