Mortgage Industry News
Letter to the editor: How do I tell the difference between a business and consumer mortgage?
Source: firsttuesday Journal --- Question: What is the difference between a business and consumer mortgage loan? Answer: A business mortgage — also known as a commercial loan — is a separate category of mortgage controlled by California rules and practices than a...
Mortgage rates drop to the lowest level since September: Freddie Mac
Source: Fox Business --- Mortgage rates dropped further last week to the lowest level since September, creating more opportunities for homebuyers, according to Freddie Mac. The average rate for a 30-year fixed-rate mortgage fell to 6.15% for the week ending Jan. 19,...
Keep an eye on these ‘overvalued’ housing markets as the housing boom implodes
Source: Fortune --- Fundamental economics tells us that home price growth and income growth are interwoven. Neither can outrun the other for very long. That is what’s concerning about the pandemic’s housing boom: Over the past year, home price growth (20.6%) is four...
Calendar: What’s driving mortgage rates the week of May 30-June 3, 2022
Source: Bankrate --- Mortgage rates are notoriously difficult to predict. They rise and fall based on market sentiment, headlines and a variety of economic indicators. Here’s a look at what could move markets this week. The major dose of economic news comes Friday,...
Even as rates go down, affordability remains a problem
Source: Business Insider --- Mortgage rates continue to hold steady around 5%. Rates have been inching down for the past few weeks after hitting a peak of 5.3% in the second week of May. Even though rates are softening slightly, they're still having an impact on...
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