Mortgage Industry News
Fannie and Freddie Conforming Loan Limits Raised for 2026
The increase is linked to the 3.26% house price increase recorded between the third quarters of 2024 and 2025. Continue Reading Fannie and Freddie Conforming Loan Limits Raised for 2026
Report: Ontario Households Spend More Than 50% of After-Tax Earnings for Mortgage Payments
“There is a perception that housing outside of the GTA is still somewhat affordable, but that’s not true,” said Austin Thompson, senior policy analyst with the Fraser Institute. Continue Reading Report: Ontario Households Spend More Than 50% of After-Tax Earnings for Mortgage Payments
Freddie Mac Expands CHOICEHome Mortgage Program to Single-Section Manufactured Homes
Freddie Mac (OTCQB: FMCC) announced the expansion of its CHOICEHome conventional financing options to include modern single-section manufactured homes. Previously, Freddie Mac provided multi-section factory-built homes with a 3% down payment option. As of today,...
Mortgage Application Activity Up 3.1%
The Refinance Index took a 5% week-over-week rise and was 18 percent higher than the same week one year ago. Continue Reading Mortgage Application Activity Up 3.1%
Senate Approves Bill Prohibiting Trigger Leads
Mortgage Bankers Association President and CEO Bob Broeksmit said it was “a long-overdue measure.” Continue Reading Senate Approves Bill Prohibiting Trigger Leads
HUD Announces 30bps decrease in Mortgage Insurance Premium (MIP) for FHA Loans
The U.S. Department of Housing & Urban Development (HUD), through the Federal Housing Administration (FHA), has announced a 30-basis-point reduction to the annual mortgage insurance premiums (annual MIP) charged to homebuyers who obtain an FHA-insured mortgage....
‘Signs of resilience’: Mortgage demand plummets to lowest 2023 level as rates rise for second week — but experts predict cooling rental prices will eventually bring rates below 6%
Source: Yahoo! --- U.S. mortgage rates have inched up for the second week in a row, following reports that the economy added a staggering 517,000 jobs and inflation climbed 0.5% in January. “At this rate, Americans need to put at least 18% down on the purchase of a...
Ask These 4 Questions to Save Money on a Home Purchase
Source: The Ascent --- Buying and owning a home is likely to be one of the most expensive money moves you'll ever make. Not only will you have upfront costs (such as a down payment to secure a mortgage loan), but you'll also be responsible for ongoing expenses like...
Mortgage overpayments vs savings: what’s the best option for your cash?
Source: Which --- With interest rates hitting heights not seen for years, overpaying on your mortgage is a tempting move that could save you tens of thousands in the long run. Having the extra cash available to make overpayments isn't something open to everyone in...
Housing market once again braces for higher mortgage rates—where 8 experts see rates going this year
Source: Yahoo! Life --- Builders and real estate agents alike are celebrating signs of life in the U.S. housing market. That'll happen when a mild home price correction coupled with mortgage rates falling from 7.37% in early November to 5.99% in February improves...
With Home Prices Stabilizing, Realtors Looking Forward to Good Spring Home Buying Season
Home sales nationwide in January were up 6% from a year ago and are 39% higher than in 2020, according to Zillow’s first monthly market report of 2023. Buyers took advantage of slightly lower mortgage rates in January, but sellers have yet to join the fray. The number...
Fewer people are taking out mortgages as interest rates increase
Source: Gazette-Times --- Experian examined mortgage rate data from Freddie Mac and the number of mortgage applications to see how rising interest rates are affecting potential homebuyers. Fewer people are taking out mortgages as interest rates increase Americans are...
4 Tips to Get Approved for a Mortgage With Bad Credit
Source: The Ascent --- Your credit score is a major cornerstone of your personal finances, and sometimes it feels as if that three-digit number plays a role in just about every money move you want to make. Getting a mortgage loan is no exception, and if your credit...
In this volatile housing market, here’s how to know when the bottom is in
Source: CNBC --- Chicago realtor Jeremy Fisher headed to Florida after Christmas counting on five mostly-relaxed weeks, after a slow second half of 2022 left him with a bunch of unsold listings exiting the year. Instead, the Compass broker ended up flying back to the...
Why the Fed Can Let the Housing Bust Rip: Mortgages, HELOCs, Delinquencies, Foreclosures, and Who’s on the Hook
Source: Wolf Street --- Mortgage balances ballooned because home prices ballooned in recent years, requiring more debt to finance the same home, and so mortgage balances in Q4 rose 2.2%, or by $253 billion, from the prior quarter, and by 9%, or by $1 trillion, from a...
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