Mortgage Industry News
Refinancing Drives Up Mortgage Application Activity
The Refinance Index increased 20% from the previous week and was 175% higher than the same week one year ago. Continue Reading Refinancing Drives Up Mortgage Application Activity
Mortgage Rates Continue to Slide
The 30-year fixed-rate mortgage averaged 6.09% as of Sept. 19, down from last week when it averaged 6.20%. Continue Reading Mortgage Rates Continue to Slide
MBA’s Broeksmit Expresses ‘Significant Concern’ Over Pausing Foreclosures on VA-Guaranteed Loans
“The VA needs to provide a detailed plan on how servicers will be reimbursed for advancing payments on behalf of borrowers,” he said. Continue Reading MBA’s Broeksmit Expresses ‘Significant Concern’ Over Pausing Foreclosures on VA-Guaranteed Loans
Monthly Mortgage Payment Average Continues to Decline
Redfin attributed this decline to the continued downturn in mortgage rates from its high of 7.79% in October. Continue Reading Monthly Mortgage Payment Average Continues to Decline
Mortgage Rates Down for Fifth Straight Week
The 30-year fixed-rate mortgage averaged 7.22% as of Nov. 30, down from last week when it averaged 7.29%. Continue Reading Mortgage Rates Down for Fifth Straight Week
FHFA launches new refinancing program for low-income homeowners
Source: Realty Biz News --- This week, the FHFA announced an upcoming program for low-income homeowners with government-backed mortgages to refinance at a lower rate in order to reduce the amount they have to pay back each month. FHFA said the program is aimed at...
Four Work-From-Home Strategies To Embrace For Your Real Estate Business
Source: Forbes --- If you ask me, working from home is amazing. You can wear pajamas from the waist down, you have no commute and you can even sleep in. I understand that the process of reading on a train or after-work drinks with your co-workers has been lost, but...
Supply of homes for sale fell by almost 30 percent year on year, the largest amount on record
Source: NBC News --- Hispanic homeownership in the U.S. climbed significantly in 2020 – there are now 8.8 million Hispanic homeowners in the country, according to a report released this week by the National Association of Hispanic Real Estate Professionals. That’s...
Do buyers stand a chance in this heated real estate market?
Source: OC Register --- I read with great interest last week, Leslie Eskildsen’s column on a relatively new residential listing class known as Registered Status. If your unfamiliar – as was I – here are the Clif notes. A seller hires a broker to sell his house by...
New home sales battle: mortgage rates vs. lumber supply
Source: Housing Wire --- Today the Census Bureau reported that in March 2021, new home sales were at a seasonally adjusted annual rate of 1,021,000. This number beats estimates. Additionally, major positive revisions were made to the sales number of the previous...
U.S. Home Prices Surge Most Since 2006 With Tight Inventory
Source: Bloomberg --- U.S. home prices soared the most in 15 years, with low mortgage rates and a scant inventory of properties to buy fueling a tight housing market. Nationally, the S&P CoreLogic Case-Shiller index of property values climbed 12% in February from...
FHFA releases new refi option for low-income borrowers
Source: Housing Wire --- Following an incredible year for refinances that mostly benefited wealthier borrowers, the Federal House Finance Agency announced it is implementing a new refi product that targets low-income borrowers with single-family mortgages backed by...
CFPB Delays Mandatory Compliance Date for General Qualified Mortgage Final Rule
Source: CFPB --- WASHINGTON, D.C. – Today the Consumer Financial Protection Bureau (CFPB) formally delayed the mandatory compliance date of the General Qualified Mortgage (QM) final rule from July 1, 2021 to October 1, 2022. The CFPB is taking this action to help...
U.S. Housing Shortage Increases in March, Driving Prices Up 18 Percent
Source: The World Property Journal --- U.S. property broker Redfin is reporting this week that the median home-sale price increased 18% year over year to $344,625--an all-time high. Mortgage purchase applications increased 6% week over week (seasonally adjusted). For...
Will the Housing Market Maintain Its Momentum?
Source: Keeping Current Matters--- Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as...
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