Mortgage Industry News
Mortgage Rates Are Climbing Again
The 30-year fixed-rate mortgage averaged 6.54% as of Oct. 24, up from last week when it averaged 6.44%. Continue Reading Mortgage Rates Are Climbing Again
Mortgage Applications Down, Forbearance Levels Up
The total number of loans now in forbearance increased to 0.34% as of Sept. 30. Continue Reading Mortgage Applications Down, Forbearance Levels Up
Two Men Sentenced for $50 Million Connecticut Mortgage Fraud Scheme
Jacob Deutsch has a prior criminal history with a wire fraud conviction stemming from an insurance fraud scheme. Continue Reading Two Men Sentenced for $50 Million Connecticut Mortgage Fraud Scheme
Mortgage Credit Availability Down in December to 11-Year Low
“Ongoing industry consolidation is resulting in more loan programs being removed from the marketplace,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Down in December to 11-Year Low
Are More Consumers Becoming Optimistic About Homebuying?
Fannie Mae’s Mark Palim pointed to “a survey-high share of consumers anticipating mortgage rate declines over the next year.” Continue Reading Are More Consumers Becoming Optimistic About Homebuying?
Mortgage rates top 3% again — and this time they’re not likely to go back down
Source: Yahoo Finance --- Mortgage rates, which recently dipped below 3% again — delighting home shoppers and homeowners looking to save on a refinance — have surged back above that line, according to a long-running and closely followed survey. The increase is...
Should you refinance your mortgage now? Consider these factors
Source: The Seattle Times --- The Federal Reserve recently announced that it plans in the next few months to hike interest rates and ease up on buying bonds, measures it put in place to prop up the economy during the pandemic. That could mean that the days of...
Major Mortgage Lender Scraps Plan to Accept Bitcoin
Source: Motley Fool --- Sorry, you can't pay your home loan with Bitcoin just yet. There are a lot of questions surrounding even the best cryptocurrencies like Bitcoin. Are they a viable long-term investment? Or will they crash and burn? And will they become a widely...
Helpful tips for homebuyers in seller’s market
Source: Washington Blade --- Without question, 2021 was a great year for home sales. Sellers across the country, in many cases, found themselves listing their homes and quickly having not just one, but multiple offers, many of which were at asking price or above. With...
Should You Waive a Home Inspection in a Hot Real Estate Market?
Source: AARP --- Mary O’Grady’s real estate agent had some disconcerting advice when she was looking to buy a house last year. “She said, ‘If you don’t waive an inspection, your bid probably won’t even get considered,’ ” recalls O’Grady, 67, from Rochester, New York....
Commercial Mortgages: Real estate developers have plenty to worry about with the current economy
Source: Richmond Times Dispatch --- Ray LaMontagne most likely wasn’t referring to real estate in his song titled “Trouble” featured in an iconic Travelers Insurance commercial where a dog frets about a good place to hide his bone with the lyrics “worry just won’t...
Revealed: The best mortgage lenders of 2021
Source: Which --- First Direct and Nationwide Building Society have been named the best mortgage lenders of 2021, based on a combination of customer feedback and Which? analysis of the best deals on the market. We spoke to more than 3,500 homeowners and analyzed...
Vulnerable U.S. homeowners face uncertainty as mortgage forbearance ends
Source: Reuters --- Close to half a million low-income homeowners in the United States, many of them minorities, are nearing the end of mortgage forbearance plans that allowed them to halt loan payments during the pandemic, presenting a test for the mortgage service...
This Is the Average Mortgage Borrowers Are Taking Out. Can You Afford It?
Source: The Fool --- Home prices are on the rise. And now, so are mortgage balances. Anyone who's been following the residential real estate market knows that home values keep climbing as limited inventory and low mortgage ratescontinue to drive buyer demand up. In...
Buying a house from across the country comes with a unique set of challenges
Source: USA Today --- Buying a house at any time can be stressful. But when relocating from one part of the country to another in a competitive seller’s market, the process poses even more hurdles to overcome. Just ask Adam and Mariah Cooke. The couple had been...
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