Mortgage Industry News
Commercial/Multifamily Borrowing Surged During Q3
Originations for office, retail, hotel, and multifamily properties fueled the year-over-year upswing. Continue Reading Commercial/Multifamily Borrowing Surged During Q3
Report: Increasing Number of VA Loans Being Used in Homebuying
Nationwide, the number of VA loans rose 3% year-over-year in August, while the number of conventional loans declined 9%. Continue Reading Report: Increasing Number of VA Loans Being Used in Homebuying
BMO Unveils Spanish-Language Mortgage Application
The application is available both digitally and in a paper format available at branches. Continue Reading BMO Unveils Spanish-Language Mortgage Application
Mortgage Application Activity Up 9.4%
The Refinance Index increased 9% from the previous week and was 56% higher than the same week one year ago. Continue Reading Mortgage Application Activity Up 9.4%
Mortgage Rates Decline for Fifth Straight Week
The 30-year fixed-rate mortgage averaged 6.67% as of July 3. Continue Reading Mortgage Rates Decline for Fifth Straight Week
Zillow Partnership with iBuyer Opendoor Launches in Atlanta, Raleigh
In August 2022, Zillow and Opendoor announced a multi-year partnership, bringing them together to transform how people initiate their move. The two companies announced that homeowners in Atlanta and Raleigh have a new way to explore multiple home-selling options on...
Covius Announces Integration with Flueid as Part of Larger Digital Transformation of Loss Mitigation
Covius, a provider of technology-enabled solutions to the financial services industry, announced today that its Settlement Services division is integrating with Flueid to accelerate the digital transformation of Covius' loss mitigation offerings. Flueid is a real...
This Cost-Lowering Idea Could Prove Risky
Source: Scotsman Guide --- The Federal Housing Finance Agency, Fannie Mae and Freddie Mac are taking steps to ensure that everyone has access to affordable housing — especially low- and moderate-income families. Certain components of these initiatives, however,...
Want a Lower Interest Rate? Try This Strategy
Source: The Ascent --- With mortgage rates hitting 20-year highs, the monthly payment for a $500,000 home is $1,000 higher than it was for the same loan a year ago. Are you looking for ways to lower your monthly mortgage payments? A mortgage buydown may be the answer....
Single Renters pay a ‘singles tax’ of nearly $7,000 for living alone
Zillow has uncovered a heartbreaking truth for apartment-hunting singles: Renters living in a one-bedroom on their own face a yearly "singles tax" of nearly $7,000, according to an analysis by Zillow. While singles across the country pay a high price for a solo...
Rocket Companies Announces CEO Transition Plan
ay Farner, CEO of Rocket Companies, plans to retire from his position effective June 1, 2023 after 27 years with the company. Rocket Companies is a Detroit-based fintech platform company consisting of tech-driven mortgage, real estate and financial services...
Alliance Bring $3.8M in Affordable Housing Funding to DC Suburb
Home buyers in search of affordable housing in the DC Metro may find more homes in their price range soon. The City of Falls Church has launched an Affordable Homeownership Program (CFCAHP), which will make $3.8 million available to support affordable homeownership....
Does being married help or hinder when it comes to a mortgage?
Source: Yahoo! News --- With Valentine’s Day on the horizon, and the inevitable influx of proposals and engagements that come along with it, it’s worth knowing whether tying the knot has an impact when it comes to buying a new home. We asked some experts in-the-know...
Mortgage advice that you should think twice about following
Source: Mortgage Introducer --- Social media has given a platform for a lot of people claiming or making it appear that they are ‘experts’ on certain subjects, including mortgages. People can watch them anytime and anywhere, so the potential to reach a lot of...
Why growth of reverse mortgages is surging despite rapid rise in interest rates
Source: The Globe and Mail --- Reverse mortgages have always been a controversial financial product, but that hasn’t stopped their expansion in Canada or from becoming a growing source of interest among advisors as a potential recommendation for certain clients. A...
