Mortgage Industry News
UWM and Bilt Partner on Rewards Program for Mortgage Payments
“This platform helps brokers win new, high-intent, leads from Bilt’s ecosystem,” said UWM’s Mat Ishbia. Continue Reading UWM and Bilt Partner on Rewards Program for Mortgage Payments
Experian Offers Free VantageScore 4.0 to Mortgage Lenders
“Experian is dedicated to fostering a more competitive mortgage landscape,” said CEO Brian Cassin. Continue Reading Experian Offers Free VantageScore 4.0 to Mortgage Lenders
Gen Z Accounts for 12% of VA Purchase Loan Market
Gen Z homebuyers using VA loans are most concentrated near large military communities like San Antonio, Virginia Beach, and Colorado Springs. Continue Reading Gen Z Accounts for 12% of VA Purchase Loan Market
Mortgage Application Activity Down by 2.6%
The refinance share of mortgage activity increased to 37.3% of total applications from 36.7% in the previous week. Continue Reading Mortgage Application Activity Down by 2.6%
Mortgage Applications for New Home Purchases Down in May
The average loan size for new homes increased from $376,992 in April to $379,209 in May. Continue Reading Mortgage Applications for New Home Purchases Down in May
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...
Three New England Markets Experience Sharp Increase in Rents
Three housing markets in the U.S. Northeast are dealing with rent spikes even as the nation’s rental crisis showed signs of moderation in January. Renters in Springfield, Massachusetts paid an average of about $1,615, a year-over-year increase of 14.73 percent...
Fundhomes appoints Ryan Feit as Strategic Advisor
Fundhomes announced that CEO and Founder of SeedInvest Ryan Feit joined their advisory board. Fundhomes is a fractional investing platform for real estate properties where investors can buy shares of individually acquired vacation rentals that are operated on their...
Realogics Sotheby’s International Realty Releases 2023 Forecast Report
Realogics Sotheby’s International Realty (RSIR) released its 2023 Forecast Report, a macroeconomic housing report authored by Pacific Northwest brokerages who have analyzed the trends in 2022, evaluated what's occurred so far in Q1 for 2023 and are focused on where...
Repayment Terms: Home Equity Loan vs. Mortgage
Source: Investopedia --- Buying a home is one of the most significant investments you can make. For most home buyers, that large of a purchase requires financing in the form of a mortgage. But once you have made your purchase, your mortgage payments start working for...
Redfin Reports Sale Prices Flatten, Demand for Mortgages Falls as Mortgage Rates Climb
Source: Yahoo! --- As mortgage rates rise, serious homebuyers are scarce. But plenty of people are searching for homes online and touring them, waiting until rates decline to buy. SEATTLE, February 23, 2023--(BUSINESS WIRE)--(NASDAQ: RDFN) — The median U.S. home-sale...
U.S. Housing Market Stalls as Mortgage Rates Edge Up Again
Source: World Property Journal --- National property broker Redfin is reporting this week that many U.S. homebuyers are retreating back to the sidelines as mortgage rates ascend toward 7 percent. Redfin's Homebuyer Demand Index -- a measure of requests for tours and...
That 3% Mortgage Just Keeps Getting Better
Source: The Washington Post --- The economy has been stronger and inflation stickier than markets and forecasters expected at the start of 2023, prompting traders to place bets that the Federal Reserve could ultimately raise rates as high as 6% — a level not seen...
