Mortgage Industry News
Mortgage Rates Continue Their Decline
The 30-year fixed-rate mortgage averaged 6.76% as of May 1, down from last week when it averaged 6.81%. Continue Reading Mortgage Rates Continue Their Decline
Mortgage Application Activity Remains Weak
The seasonally adjusted Purchase Index was down by 4% from one week earlier while the unadjusted index fell 3%. Continue Reading Mortgage Application Activity Remains Weak
Mortgage Application Activity Continues to Drag
The Market Composite Index was down by 5.2% on a seasonally adjusted basis. Continue Reading Mortgage Application Activity Continues to Drag
GO Mortgage and PacRes Mortgage Announce Merger
GO Mortgage CEO Michael Isaacs will become the chief executive of the combined company. Continue Reading GO Mortgage and PacRes Mortgage Announce Merger
Most Homebuyers Are Not Shopping Around for a Mortgage
Baby boomers were the least likely to comparison shop (28%) while millennials were most likely. Continue Reading Most Homebuyers Are Not Shopping Around for a Mortgage
Paying Your Mortgage With Bitcoin Is a Bad Idea. Here’s Why
Source: Next Advisor --- Could you imagine paying your mortgage — one of life’s biggest expenses — with a bag of magic marbles that were sometimes worth $11,000 each and other times worth $60,000 each? If you wanted to pay your mortgage with Bitcoin, that’s...
How to know if you’re ready to buy a home
Source: Business Insider --- This time last year, Christie Heimbach was shelling out $1,000 in rent every month to live with a roommate in Lancaster, Pennsylvania. Heimbach, a teacher and photographer, realized she could spend the same amount of money each month —...
Buying a home is a goal for many Americans. How this bank is helping members of low- and moderate-income communities achieve that
Source: CNBC --- Even as prices for homes soar, the American Dream of owning a home is still alive and well. Yet that can be a high hurdle for first-time home buyers to reach. New data from the National Association of Realtors shows sales of previously owned homes...
Buying a home or refinancing? A 30-year mortgage may not be your best option
Source: CNN --- If you're thinking of buying a home or refinancing one, a big question will be whether to get a 30-year mortgage or opt for a shorter term loan. Most people get a 30-year fixed rate mortgage, which offers lower monthly payments. But there are some...
BBB expert explains potential pitfalls of reverse mortgages
Source: Fox 2 Now --- ST. LOUIS – Reverse mortgages have been around for 60 years now and they are advertised to seniors as a way to access the equity of their home quickly. Since the pandemic began more than a year and a half ago some have been turning to these loans...
Q3 real estate market trends report
Source: Colorado Biz --- With fall winding down and winter on the horizon, the traditional seasonal market tempering is also following suit – if just a bit. Buying opportunities still remain and for those looking to make a move and sell, it’s still a good time. ...
The Market for Single-Family Rentals Grows as Homeownership Wanes
Source: New York Times--- The lawns are manicured. The swimming pools sparkle in the sun. And the homes, all of them turnkey and smelling of fresh paint, are lined up in tidy rows, an army of cookie-cutter porches standing at attention. Covid-19 inflamed the real...
How to buy a house with a low income
Source: Bankrate --- If you have a stable job but are earning less than you’d like, you might be concerned that this can impede your ability to purchase a home. The good news: There are mortgages and assistance options that can help you become a homeowner, even with a...
Mortgages tied to ‘green’ home improvements considered by UK
Source: The Guardian --- The government is exploring plans to link mortgages to green home improvements by imposing targets for lenders, to help decarbonise the UK’s ageing and leaky housing stock. Highlighting the move in its net zero strategy, published on Tuesday,...
Current mortgage rates for Oct. 19, 2021: Rates cool off
Source: CNET --- Today a number of important mortgage rates declined. Let's see how that could affect your home loan payments. A few closely followed mortgage rates fell today. Average 15-year fixed mortgage rates climbed, while average 30-year fixed mortgage rates...
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