Mortgage Industry News
New Home Purchase Mortgage Applications Surged in March
The average loan size for new homes decreased from $397,516 in February to $381,921 in March. Continue Reading New Home Purchase Mortgage Applications Surged in March
Ohio AG Sues United Wholesale Mortgage, Claiming ‘Conspiracy’ with Brokers
Yost launched his campaign for governor in January. Continue Reading Ohio AG Sues United Wholesale Mortgage, Claiming ‘Conspiracy’ with Brokers
NAHB: Families Must Spend 38% of Their Income on Mortgage Payments
California’s San Jose-Sunnyvale-Santa Clara market was the most severely cost-burdened market during the first quarter. Continue Reading NAHB: Families Must Spend 38% of Their Income on Mortgage Payments
Independent Mortgage Banks Report Q1 Net Production Losses
The average production volume was $384 million per company in the first quarter. Continue Reading Independent Mortgage Banks Report Q1 Net Production Losses
Mortgage Rates Drop Below 7%
A year ago at this time, the 30-year fixed-rate mortgage averaged 6.57%. Continue Reading Mortgage Rates Drop Below 7%
1.5 Million Americans Face a Financial Cliff as Mortgage Forbearance Ends. These Are Their Options
Source: Time --- If it hadn’t been for a mortgage forbearance program, Destiny Blackmon says she could have lost her home. Destiny Blackmon and her husband pose for a photo at the site of their new home construction in 2017.Courtesy of Destiny Blackmon ...
FP Explains: Everything you need to know about using a reverse mortgage
Source: Sault Star --- Have you ever viewed a reverse mortgage commercial and wondered whether it would help you maintain and enhance your retirement lifestyle? One of my clients certainly did. They knew they didn’t have quite enough money and they didn’t want to...
Today’s Mortgage Rates & Trends – September 23, 2021: Rates flat
Source: Investopedia --- With yesterday's Fed announcement revealing little new news, mortgage rates are mostly holding steady this week, with the 30-year rate marking time for a second day. Rates have been in a narrow bouncing pattern since early August, keeping the...
Today’s 30-year mortgage rates climb to 3% for first time in 69 days | Sept. 24, 2021
Source: Fox Business --- Based on data compiled by Credible, mortgage rates have risen across all terms since yesterday. 30-year fixed mortgage rates: 3.000%, up from 2.750%, +0.250 20-year fixed mortgage rates: 2.625%, up from 2.500%, +0.125 15-year fixed mortgage...
How To Start A Real Estate Empire With Only $12,500
Source: Forbes --- If you’re not currently a homeowner or haven’t purchased your first multi-residential property, you may still have hopes of building a multi-million or billion-dollar real estate portfolio. Yet that goal appears to be far-fetched amid a global...
How To Purchase Your First House Without Overspending
Source: Tamp AFP --- Purchasing your first house is a thrilling experience, but it can also be expensive. That isn’t to say that you need to let go of your life savings to secure a home. It is essential to acquire the right information so you can make the right...
Knowing the best home survey options for your clients
Source:Financial Reporter --- As the modern mortgage market continues to evolve, so too does the complexity attached to product offerings, criteria, lending policy, affordability and accessibility. I could go on but I’m sure you all have your own lists. Whilst...
Hall Financial: Why refinancing can increase your home equity
Source: F --- As a homeowner, you've worked hard paying off the mortgage on your house and updating it when you can. Now it's time for the house to work for you! Low rates mean there's a bit more equity in your home, which is an opportunity to use that equity to put...
New Mortgage Rule Aims to Stop Avoidable Foreclosures
Source: Investopedia --- The Consumer Financial Protection Bureau (CFPB) has announced a new rule to help prevent foreclosures in situations where they can be avoided. The new rule, which went into effect on Aug. 31, requires that most mortgage servicers help...
FHFA Reverses Previous Housing Market Reform Progress
Source: American Action Forum --- Executive Summary The Federal Housing Finance Agency (FHFA) has suspended restrictions from earlier this year that prevented the government-sponsored enterprises (GSEs) from purchasing “high-risk” mortgages; it also announced a...
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