Mortgage Industry News
With mortgage rates dropping and fee changes in the pipeline, now may be the time to buy that home
Source: CNBC --- The average rate for a 30-year mortgage dropped to 6.15% last week — the lowest in 18 weeks. This dip in rates provides welcomed relief for many potential homebuyers who’ve put their dreams on pause thanks to high mortgage interest rates, which have...
Mortgage rate buydowns are on the rise as homebuyers cope with high interest rates
Source: USA Today --- Anna Raymond was ready to make the switch from renting to owning a home last spring. But after five failed offers, she and her husband decided to take a step back from house hunting. Then, in December, their real estate agent presented an offer...
Why Home Loans Today Aren’t What They Were in the Past
Source: Keeping Current Matters --- In today’s housing market, many are beginning to wonder if we’re returning to the riskier lending habits and borrowing options that led to the housing crash 15 years ago. Let’s ease those concerns. Several times a year, the Mortgage...
Housing Market Update: Homebuyers Regain Some Control as Supply Grows and Demand Pulls Back
Source: Redfin --- May marked a turning point in the pandemic housing frenzy, as buyers regained some control over the market. This limited sense of control comes at a great cost, as 5% mortgage rates and record-high prices have edged many buyers out of the market....
Homebuyer Competition Falls for Second Consecutive Month
Source: World Property Journal --- National property broker Redfin is reporting this week that 60.7% of home offers written by Redfin agents nationwide encountered competition on a seasonally adjusted basis in April, the lowest level since March 2021. That's down from...
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