Mortgage Industry News
Mortgage Rates Surge Onward and Upward for Fifth Straight Week
Sam Khater, Freddie Mac’s chief economist, noted, “The good news is that the economy and incomes continue to grow at a solid pace.” Continue Reading Mortgage Rates Surge Onward and Upward for Fifth Straight Week
Slight Uptick in Mortgage Application Activity
“The level of ARM applications increased by 15% over the week,” said MBA’s Joel Kan. Continue Reading Slight Uptick in Mortgage Application Activity
Mortgage delinquencies edge higher going into 2023
Source: firsttuesday Journal --- Underwater homeowners gain more company While an economic recession is not yet official in 2023, consumers are struggling to keep up with everyday expenses — including housing payments. 3.0% of U.S. mortgaged loans were 30 or more...
Taking a flying leap into mortgages
Source: MPA Mag --- It’s only during life’s more painful episodes that people are invariably forced to reconsider their place in the world, and sometimes their career. Inevitably, it involves change, but taking that momentous first step is often the hardest because...
What to Do With an Underwater Mortgage
Source: US News --- An underwater mortgage, also called an upside-down mortgage, occurs when the loan's principal balance is higher than the home's fair market value, resulting in negative equity. In other words, a mortgage becomes underwater when you owe more than...
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