Mortgage Industry News
Mortgage Rates Record Uptick
The 30-year fixed-rate mortgage averaged 6.12% as of Oct. 3, up from last week when it averaged 6.08%. Continue Reading Mortgage Rates Record Uptick
Market Spotlight: Four New Regional Programs for Borrowers
A quartet of new regionally focused programs for current and prospective homeowners have been announced this week. Westerly, Rhode Island-based Washington Trust has expanded its RI Community Lending Program with the addition of I Luv RI Home Improvement Loans as home...
21.8% Increase in New Home Purchase Mortgage Applications
The average loan size for new homes decreased from $390,225 in October to $390,049 in November. Continue Reading 21.8% Increase in New Home Purchase Mortgage Applications
Q3 Commercial/Multifamily Mortgage Debt Up by $37.1 Billion
Commercial banks continue to hold the largest share (38%) of commercial/multifamily mortgages at $1.8 trillion. Continue Reading Q3 Commercial/Multifamily Mortgage Debt Up by $37.1 Billion
Mortgage Rates Drop Below the 7% Mark
The 30-year fixed-rate mortgage averaged 6.95% as of Dec. 14. Continue Reading Mortgage Rates Drop Below the 7% Mark
You can’t afford to make this mortgage mistake in this hot real estate market
Source: Detroit Free Press --- The real estate market today is definitely not the most favorable one for borrowers. There's a serious shortage of homes available for sale, and housing prices have repeatedly hit new recent highs in most parts of the country. Many...
REAL ESTATE MATTERS: Homeowner has questions about selling to neighboring business
Source: Herald-Tribune --- Q: Our neighbor sold his home to the commercial business that borders his property. He sold it after they approached him with an unsolicited offer. The neighbor was told the business wanted to remodel/redevelop the property and wanted “green...
8 tips for millennial homebuyers
Source: MSN --- Tips and tricks for buying a new house Preparing to buy your first home is a thrilling time. Dreaming up all the new furniture, routines and life you’ll live inside those four walls is exciting. And it appears that a portion of the millennial...
Tips & Insights from Opendoor Real Estate Expert
Source: ABC Action News --- In the hottest real estate market in a generation, the national inventory of active listings declined by more than 50 percent over last year, creating both challenges and opportunities for buyers and sellers. With homes flying off the...
Ten steps than can improve housing affordability
Source: Pasadena Star News --- I was excited to read about your recent Executive Order on promoting competition across America with the goal of reducing consumer prices. When it comes to real estate, reducing purchase and refinance transactional costs along with...
Millennials’ Real Estate FOMO Goes Haywire
Source: Bloomberg --- Here’s a word to add to your investing vocabulary: Dungers. The term for dilapidated, crumbling houses comes from New Zealand, which is in the grip of a striking property boom. The country topped Bloomberg Economics’ risk radar in June for being...
Biden’s new dilemma: How to slash housing costs for low-income borrowers
Source: Politico --- President Joe Biden’s move to fire the top U.S. mortgage regulator is triggering calls from fellow Democrats to use the agency to expand access to loans for lower-income people, who have struggled to buy homes since the financial crisis. That’s...
Mortgage servicers brace for fallout as Covid bailout comes to an end
Source: CNBC --- The nation’s mortgage servicers are gearing up for the biggest wave of delinquent loans since the subprime mortgage crisis, but this time they say they are ready. The first wave of borrowers to enter the government’s coronavirus mortgage bailout...
Sub-3% mortgage rate streak comes to an end
Source: MPA --- An increase in mortgage rates has ended a 10-week streak of sub-3% rates, Freddie Mac reported Thursday. For the first time since April, the benchmark 30-year fixed-rate mortgage rose above 3%, up nine basis points to 3.02%. Freddie Mac chief economist...
Homepoint unveils new service model for brokers
Source: MPA --- With refinances drying up, brokers are shifting their focus to capturing the booming purchase market. Homepoint – the nation’s third-largest wholesale lender – has launched Homepoint Amplify, a new service model that aims to help brokers do just that....
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