Mortgage Industry News
John Cady Named President of Citywide Home Loans
“The company is the perfect mix of culture, service and programs that many mortgage professionals have been looking for,” said Cady. Continue Reading John Cady Named President of Citywide Home Loans
Mortgage Applications Plunge to 27-Year Low
Among the federal programs, the FHA share of total applications increased to 14.5% from 14.1% the week prior. Continue Reading Mortgage Applications Plunge to 27-Year Low
Mortgage rates fall for the sixth week in a row
Source: Yahoo! News --- Mortgage rates dropped for the sixth straight week, but housing activity remained muted going into the holidays. The rate for the average 30-year fixed mortgage slipped to 6.27% from 6.31% the week prior, according to Freddie Mac. Rates have...
How do fixed-rate mortgages work? Is a fixed-rate loan best?
Source: The Mortgage Reports --- What is a fixed-rate mortgage? In mortgage terms, a fixed rate means the interest rate remains the same for the life of your home loan — keeping your monthly principal and interest payment consistent. The rate on a fixed mortgage is...
Mortgage financing options in a higher interest rate environment
Source: Consumer Financial Protection Bureau --- Over the past two years, interest rates have risen from historical lows to as high as 7% for 30-year fixed-rate mortgages. Interest rates have remained elevated at levels that haven’t been seen for nearly 20 years....
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