Mortgage Industry News
What You Need to Know About Foreclosure Rates
Source: US News --- As a homeowner, homebuyer or aspiring real estate investor, you want to understand the housing market more. Median home prices, mortgage interest rates and average days on market are all valuable metrics to grasping current activity on the market....
First-time homebuyers are pretty much screwed in 2023
Source: Insider --- First-time homebuyers just can't catch a break. The massive government stimulus issued during the early stages of the pandemic combined with rock-bottom mortgage rates led to one of the most dramatic home-buying frenzies in US history. The buying...
‘Highest and Best’ vs. ‘Best and Final’: A Homebuyer’s Guide to Offers and Winning a Bidding War
Source: Realtor --- There are signs that the housing market is easing off the record-high prices it’s seen during the past few years, but bidding wars for homes are far from over—especially in competitive markets. And the difference between landing your dream home and...
Home Sellers in Migration Hotspots Increasingly Turn to Price Drops
Source: Redfin --- The sudden surge in mortgage rates has reduced homebuyers’ budgets in many markets, forcing sellers to reset their price expectations. Price drops are becoming increasingly common, particularly in relatively affordable places that have seen home...
US mortgage rates see biggest fall for over two years
Source: MPA --- US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs. The average for a 30-year loan declined to 5.10% from 5.25% last week, Freddie Mac said in a...
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