Mortgage Industry News
Mortgage Application Activity Up 9.2%
The seasonally adjusted Purchase Index increased 7% from one week earlier but the unadjusted index retreated by 6%. Continue Reading Mortgage Application Activity Up 9.2%
Housing Is Not a Game — It’s the American Dream
For far too long, housing has been reduced to a prop in America’s political theater. It’s the backdrop for campaign rallies, the bullet point slipped into glossy mailers, the soundbite dropped to score applause. But behind every hollow promise, real families are...
American Pride Bank Launches Third-Party Origination Mortgage
“In partnership with brokers, APB Wholesale is going to open new doors to homeownership for Americans nationwide,” said CEO Dominik Mjartan. Continue Reading American Pride Bank Launches Third-Party Origination Mortgage
The State with the Greatest Increase in Mortgage Debt Is…
Vermont was the only state with an increase above 2%. Continue Reading The State with the Greatest Increase in Mortgage Debt Is…
Mortgage Rates Continue Their Decline
The 30-year fixed-rate mortgage averaged 6.76% as of May 1, down from last week when it averaged 6.81%. Continue Reading Mortgage Rates Continue Their Decline
Credit Union Documentary Racks up Festival Wins
A documentary film produced by the digital media division of PenFed Credit Union, the nation's second-largest federal credit union, has been winning awards on the film festival circuit. The documentary short film "The Shot" has won numerous awards and screened for...
S&P Corelogic Case-Shiller Index Declined Again in December
Home price gains continued to drop across the United States according to the latest results for the S&P CoreLogic Case-Shiller Indices. Before seasonal adjustment, the U.S. National Index posted a -0.8% month-over-month decrease in December, while the 10-City and...
What is an independent broker? Pros and cons
Source: Inman --- For real estate agents who are looking for a chance to take their professional life to the next level, pursuing the role of real estate broker is a natural step. While part of the pursuit of this goal involves additional education and training, it...
Pending Home Sales Improved for Second Consecutive Month, Up 8.1% from December 2022
Pending home sales improved in January for the second consecutive month, according to the National Association of Realtors. All four U.S. regions posted monthly gains but saw year-over-year drops in transactions. The Pending Home Sales Index (PHSI) — a...
Homes owned by Black households appreciated the fastest during the pandemic
Homes owned by Black families appreciated more than any others since the start of the pandemic, with the typical Black homeowner gaining nearly $84,000 in equity. Black Americans also made slight gains in homeownership rates, despite disproportionate job and income...
Are iBuyers good or bad for the real estate ecosystem
iBuyers, short for "instant buyers," are companies that use technology and data analysis to make fast cash offers on homes, usually at a discount. The concept of iBuyers first emerged in the early 2010s as a response to the traditional home selling process, which can...
Here’s What Happens When You Can’t Make Your Mortgage Payment
Source: The Ascent --- It's been a very difficult time to be an ordinary American homeowner as of late. If you bought a home in the last few years, you might be grappling with higher housing payments due to elevated home values. They climbed in the last three years...
Should I Refinance My Mortgage?
Source: Buy Side from WSJ--- For most people, the prime reason to refinance a mortgage is to lower their interest rate and monthly payments. So, when mortgage rates dipped to record low levels early in the coronavirus pandemic, refinancing activity soared. Right now,...
This is why you need a mortgage pre-approval before shopping for a home
Source: CNBC --- If you’re ready to begin your home shopping journey, make sure you get a mortgage pre-approval first. A mortgage pre-approval letter is an essential step in the homebuying process. Without pre-approval, it might be difficult to determine your budget....
The mortgage rate you get depends partly on your credit score. Here’s what to expect
Source: CNBC --- Anyone who’s exploring homeownership may know that rising interest rates and elevated home prices are making that goal challenging. The average rate on a typical 30-year, fixed-rate mortgage has been zigzagging between 6% and 7% for the last several...
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