Mortgage Industry News
Mortgage Rates Rise Again
The 30-year fixed-rate mortgage averaged 6.84% as of Nov. 21, up from last week when it averaged 6.78%. Continue Reading Mortgage Rates Rise Again
Report: Refinancing Fueled Q3 Mortgage Lending Activity
Mortgage rollovers were up by 6.9% quarterly to about 588,000. Continue Reading Report: Refinancing Fueled Q3 Mortgage Lending Activity
Mortgage Applications Up While Most Americans Expect Lower Rates
The Fannie Mae Home Purchase Sentiment Index increased 3.5 points in January to 70.7, its highest level since March 2022. Continue Reading Mortgage Applications Up While Most Americans Expect Lower Rates
First Home Mortgage Corp. Rolls Out Down Payment Assistance Program
Under this program, the buyer contributes 1% and First Home Mortgage contributes 2% (up to $5,500) towards the down payment and/or closing costs. Continue Reading First Home Mortgage Corp. Rolls Out Down Payment Assistance Program
Freddie Mac Extends Mortgage Assistance to Very Low Income Borrowers
The funds can also be used to cover closing costs, escrow and mortgage insurance premiums. Continue Reading Freddie Mac Extends Mortgage Assistance to Very Low Income Borrowers
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...
Mortgage Bond Sales Surged in October
Source: Wall Street Journal --- Mortgage companies in the U.S. issued $21 billion of mortgage-backed bonds in October, the second heaviest month of borrowing since the 2008-09 financial crisis, according to research by Bank of America Corp. One reason: It is cheaper...
Homeowners With Risky Alternatives to Traditional Mortgages Eligible for COVID-19 Relief Money
Source: Pew --- The U.S. Treasury Department released guidance in August that made financial assistance available to homeowners experiencing financial hardship linked to the COVID-19 pandemic. The aid could be offered to those with traditional mortgages and those...
Mortgage rate forecast for November 2021: Rates head higher for the holidays
Source: Bankrate --- As Thanksgiving approaches, homeowners and potential buyers have much to be grateful for, including the relatively low mortgage rates that have persisted over the last several months. But all good things eventually come to an end, and that could...
