Mortgage Industry News
30-Year Fixed-Rate Mortgage at 2-Year Low
The 30-year fixed-rate mortgage averaged 6.08% as of Sept. 26. Continue Reading 30-Year Fixed-Rate Mortgage at 2-Year Low
Mortgage Application Payments Down by Nearly 4%
The national median mortgage payment for conventional loan applicants was $2,056. Continue Reading Mortgage Application Payments Down by Nearly 4%
Private Investment Firm Creates Advisory Board Focused on Real Estate and Mortgages
Board members include Kamini Lane of Coldwell Banker Realty and Kevin Peranio of PRMG Inc. Continue Reading Private Investment Firm Creates Advisory Board Focused on Real Estate and Mortgages
Alliant Credit Union Expands Mortgage Offerings
“Helping Americans achieve their financial goals, including homeownership, is at the core of Alliant’s mission,” said Dan Bauer, head of residential lending. Continue Reading Alliant Credit Union Expands Mortgage Offerings
Mortgage Application Activity Up 2.8%
The Refinance Index was up by 14% from the previous week and was 10% higher than the same week one year ago. Continue Reading Mortgage Application Activity Up 2.8%
Rate-Conscious Homeowners Are Repeatedly Refinancing Their Mortgages. Is Another Refi Right for You?
Source: Money --- Carlos Barros was elated when he refinanced his mortgage back in May 2020, locking in a 3.125% rate and reducing his monthly payments by about $220. Unfortunately, the feeling didn’t last long. “Just a week or so after I closed on my refinance —...
Senators reintroduce bill to allow remote online notarizations
Source: Housing Wire --- Could it finally be happening? Senators Mark Warner (D-Va.) and Kevin Cramer (R-N.D.) have reintroduced federal legislation that would allow remote online legislation (RON) nationwide. Dubbed the Securing and Enabling Commerce Using Remote...
The curious case of the enduring sub-3% mortgage rate
Source: Housing Wire --- Historically low mortgage rates had their moment in the sun in 2020. They rested far below 3% for months before America’s economic rebound pushed them back up in the winter of 2021. But data released on Thursday from Freddie Mac showed that...
Welcome Home
Source: Scotsman Guide --- Demand for single-family rental housing is rising, and the sector has emerged as a popular option for those seeking more space and an affordable place to live. During the COVID-19 pandemic, this trend has accelerated as more people flee...
Major housing program to expand to $15 billion
Source: MPA --- Bank of America Corp. is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps. The lender, working with the non-profit Neighborhood Assistance Corp. of America, set a goal of providing $15...
5 ways to track and predict market changes
Source: Inman --- Agents often get questions about the future of the market from curious consumers. Knowing how to answer them is key to building trust and establishing yourself as an expert in your field. Here are a few ways to stay in the know and spot patterns and...
Don’t Forget to Budget for Closing Costs
Source: Keeping Current Matters --- When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required...
Burst Past Your Production Plateau
Source: Scotsman Guide --- As a mortgage originator, your success is often measured by a single number: how many loans you’re closing in the current month. For better or worse, this number rules your thoughts, and it often reflects how you are treated by your company...
Single-Minded Focus
Source: Scotsman Guide --- Two kinds of activities, reactive and proactive, keep mortgage originators busy. Reactive activities are all about putting out fires. When you’re in reactive mode, you’re playing defense. Proactive activities are the things that bring in...
How does the FHFA 7% loan cap on GSEs affect originators?
Source: Housing Wire --- As you probably know by now, the Federal Housing and Finance Agency has limited GSEs to a 7% cap on loan purchases for second home and investment properties. This means that lenders who sell these types of loans to Fannie Mae and Freddie Mac...
Recent Posts
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