Mortgage Industry News
Mortgage Application Activity Inches Up Again
The FHA share of total applications decreased to 18.7% from 19% the week prior. Continue Reading Mortgage Application Activity Inches Up Again
Mortgage Rates on the Rise Again
The 30-year fixed-rate mortgage averaged 6.75% as of July 17. Continue Reading Mortgage Rates on the Rise Again
Union Home Mortgage Acquires Nations Reliable Lending
The financial terms of the deal were not disclosed. Continue Reading Union Home Mortgage Acquires Nations Reliable Lending
Bank7 Acquires First American Mortgage
First American Mortgage has operated since 1993 and facilitated over $3 billion in funding. Continue Reading Bank7 Acquires First American Mortgage
Mortgage Rates Decline Again
The 30-year fixed-rate mortgage averaged 6.76% as of Feb. 27. Continue Reading Mortgage Rates Decline Again
What Do Agents Need To Have This Year
Debbie Bloyd is a contributing author to Weekly Real Estate News and can be contacted at 469-768-0337 or [email protected] What do agents need to have this year? A great mortgage lender that they can call or one that can sit in the open houses with them on...
Loan Level Price Adjustments (LLPAs) Explained
Loan Level Price Adjustments (LLPAs) are additional fees implemented by the Federal Housing Finance Administration (FHFA) on certain types of mortgage loans. These fees are designed to account for the increased risk associated with certain loan characteristics, such...
Why higher mortgage rates mark a return to normality
Source: FT Adviser --- Fixed rate mortgages have begun to fall after reaching 6 per cent last year, but remain relatively high, but with the prospect of falling interest rates, some are questioning whether borrowers may revert to tracker mortgages. When compared to...
Fed policymakers call for further rate hikes to beat inflation
Source: Reuters --- Jan 18 (Reuters) - Federal Reserve policymakers on Wednesday signaled they will push on with more interest rate hikes, with several supporting a top policy rate of at least 5% even as inflation shows signs of having peaked and economic activity is...
UWM Continues To Lead The Market Forward With Major Enhancement To Safe Check Program
PONTIAC, January 18, 2023 – United Wholesale Mortgage (UWM), the #1 overall lender in America, announced it has enhanced its Safe Check program, initially launched in October 2022, to provide loan officers more certainty and confidence to pull valid pricing. Now,...
What is mortgage insurance?
Source: Insurance Business Mag --- Lenders typically require home buyers to provide a down payment equivalent to 20% of the property’s purchase price to qualify for a loan. This amount, however, which can easily hit upwards to the tens to the hundreds of thousands of...
Today’s best mortgage deal? Look to 15-year rates for greater interest savings | Jan. 17, 2023
Source: Fox Business --- Based on data compiled by Credible, mortgage rates for home purchases have risen across all terms since last Friday. 30-year fixed mortgage rates: 6.625%, up from 6.500%, +0.125 20-year fixed mortgage rates: 6.500%, up from 6.125%, +0.375...
With Rising Interest Rates, Do Adjustable Rate Mortgages Make Sense?
Source: Albany Herald --- As rates on traditional mortgages have risen, a growing number of home buyers are turning to adjustable rate loans in order to save a few dollars. But do buyers risk getting hit with significant increases when that lock expires? Don't let...
Five ways to reduce your mortgage repayments in 2023 – and why rates have risen so high
Source: The Conversation --- Around 4 million UK households will face higher mortgage costs in 2023 with average monthly payments expected to increase from £750 to £1,000. Banks’ lending rates are directly influenced by the Bank of England’s base rate, which rose nine...
Real Estate Rebound: Demand for New Mortgages Jumps 28% in One Week
Source: Yahoo Finance --- The U.S. housing market’s topsy-turvy ride shows no sign of letup in the new year, as mortgage applications rose sharply last week despite fears that home sales will keep sinking in 2023. Mortgage applications for the week ending Jan. 13,...
