Mortgage Industry News
Why the Fed Can Let the Housing Bust Rip: Mortgages, HELOCs, Delinquencies, Foreclosures, and Who’s on the Hook
Source: Wolf Street --- Mortgage balances ballooned because home prices ballooned in recent years, requiring more debt to finance the same home, and so mortgage balances in Q4 rose 2.2%, or by $253 billion, from the prior quarter, and by 9%, or by $1 trillion, from a...
Zillow Home Value Index Methodology, 2023 Revision: What’s Changed?
Source: Zillow --- The Zillow Home Value Index (ZHVI) now incorporates the more accurate neural Zestimate. Starting with Zillow’s January 2023 data release, and for all subsequent releases, the full ZHVI time series has been upgraded to harness the power of the neural...
Mortgage Rates in the US Restart Climb, Increasing to 5.51%
Source: Bloomberg --- Mortgage rates in the US rose, resuming an upward climb that threatens to further cool the housing market. The average for a 30-year loan jumped to 5.51% from 5.3% last week, Freddie Mac said in a statement Thursday. It’s up from 3.11% at the...
Mortgage rates rebound as US economy comes to grips with an ‘uncomfortable’ future
Source: Yahoo Finance --- After a two-week break, U.S. mortgage rates began climbing again this week, a new report shows. The higher 30-year fixed-rate mortgage is becoming yet another headwind for the shaky economy amid the Federal Reserve’s war on inflation. The...
Portfolio mortgage lenders: What are they and how do you find one?
Source: Bankrate --- Portfolio lenders make loans in the usual way to consumers, but rather than sell the mortgages to agencies like Fannie Mae and Freddie Mac, they keep the loans on their books and often service them as well. Some 30 percent of all mortgages are...
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