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MBA: Purchase Loan Applications at 28-Year Low
The adjustable-rate mortgage share of activity increased to 7.6% of total applications, its highest level in five months. Continue Reading MBA: Purchase Loan Applications at 28-Year Low
Foreclosure Inventory Hits 15-Month Low
Among the states, Mississippi had the highest non-current percentage at 7.65% and Colorado had the lowest with 1.95%. Continue Reading Foreclosure Inventory Hits 15-Month Low
Additional Reading: Top Mortgage Industry News & Headlines
15-year mortgages – back in the spotlight but are they the right choice?
Source: MPA Mag --- With interest rates rising in light of inflation, some would-be homeowners are eyeing 15-year mortgages in lieu of the traditional 30-year variety to build equity quicker. But one industry veteran urges caution against the option unless one is...
What Real Estate Investors Need to Know About the 2% Rule
Source: Yahoo! --- There are several metrics you can use to evaluate whether a rental property investment has potential, including the 2% rule. The 2% rule in real estate dictates that a property’s rental income should be at least 2% of the purchase price....
The Difference Between a 3% and 7% Mortgage Rate: $1,000 Per Month
Source: NAHB --- As the Federal Reserve continues to fight inflation, mortgage rates increased rapidly in 2022, starting the year at 3% and rising above 7% before dropping back to roughly 6.5% at the end of the year. How do rapidly rising mortgage rates affect housing...
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