Mortgage Industry News
Mortgage Application Activity Down Slightly
Among the federal program, the FHA share of total applications increased to 19.1% from 18.4% the week prior. Continue Reading Mortgage Application Activity Down Slightly
FHFA’s Pulte Debuts New Ad for ‘Great American Mortgage Corporation’
The advertisement touts President Trump as a leader “who stands by us and the basic principle that all Americans deserve to dream and dream big.” Continue Reading FHFA’s Pulte Debuts New Ad for ‘Great American Mortgage Corporation’
Residency Requirements Changed on FHA-Insured Mortgages to Shut Out Illegal Immigrants
“There will be no more illegal aliens getting HUD-backed home loans,” said Secretary Turner. Continue Reading Residency Requirements Changed on FHA-Insured Mortgages to Shut Out Illegal Immigrants
Homeownership Expenses Consume One-Third of National Average Wage
Nationwide, the typical $2,021 cost of mortgage payments, homeowner insurance, mortgage insurance and property taxes is down 0.7% quarterly. Continue Reading Homeownership Expenses Consume One-Third of National Average Wage
Sluggish Refinance Activity Drives Down Mortgage Application Levels
The Refinance Index decreased 5% from the previous week, although it was 63% higher than the same week one year ago. Continue Reading Sluggish Refinance Activity Drives Down Mortgage Application Levels
Mortgage rate buydowns are on the rise as homebuyers cope with high interest rates
Source: USA Today --- Anna Raymond was ready to make the switch from renting to owning a home last spring. But after five failed offers, she and her husband decided to take a step back from house hunting. Then, in December, their real estate agent presented an offer...
Survey finds Americans wildly misinformed on housing market
Source:The Hill --- A new survey finds Americans are woefully misinformed about the nation’s mercurial housing market, even as millions of them prepare to buy homes. Twenty-eight million Americans plan to purchase a home in 2023, according to a survey released Tuesday...
The 10 largest mortgage lenders in the U.S.
Source: Bankrate --- Mortgage rates have been volatile in recent months, but the roster of the biggest and most active mortgage lenders has stayed stable in the past year. Rocket Mortgage and United Shore Financial remained first and second by volume of loans...
Mortgage Rates Drop to Lowest Point in 4 Months
Source: U.S. News --- The average 30-year fixed mortgage rate fell to 6.46% this week, the lowest it's been since September 2022. Mortgage rates declined across the board this week, with the average fixed rate on a 30-year mortgage falling to 6.46%. This is the lowest...
How to Price Your Home Correctly in Massachusetts
Source: MassRealty --- Proper Housing Pricing in Massachusetts is Essential It can be challenging to price your home correctly, but with some preparation and helpful tips, you can make the process as smooth as possible. When it comes to pricing a home in...
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,...
Correct House Pricing is Essential For Success
Source: Maximum Real Estate Exposure --- How to Price a House For Sale Pricing a house in a way that will encourage a timely sale is quite challenging for home sellers and often for Realtors. House pricing isn’t rocket science, yet so many get it wrong. Numerous...
Some BIG Changes to Mortgage Costs Were Just Announced
Source: Mortgage News Daily --- In a single moment, the fees for a vast majority of new mortgages in the US have changed. In some cases, the changes are drastic, both for better and worse. Let's break it down. What do you mean by "fees/costs?" This refers to Loan...
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....
