Top Headlines
MBA: Home Equity Lending Volume Remains Relatively Flat
Total originations of open-ended HELOCs and closed-end home equity loans increased to $2.13 billion per company in 2023. Continue Reading MBA: Home Equity Lending Volume Remains Relatively Flat
Leadership Shifts at SmartRent
John Dorman, the board’s lead independent director, has been appointed chairman of the board. Continue Reading Leadership Shifts at SmartRent
Leadership Shifts at Home BancShares
Chief Lending Officer Kevin Hester will become president of Home BancShares and Centennial Bank. Continue Reading Leadership Shifts at Home BancShares
Farmers Resumes Writing Business Insurance Lines in California
The company continues to offer small business insurance policies, including coverage for the retail, office and service industries. Continue Reading Farmers Resumes Writing Business Insurance Lines in California
Grant Cardone on Biden’s Homebuyer Tax Credit Plan: ‘Is Joe Dumb?’
Cardone cited homebuyer costs to dilute the impact of the Biden plan. Continue Reading Grant Cardone on Biden’s Homebuyer Tax Credit Plan: ‘Is Joe Dumb?’
The biggest Fed rate hike in 40 years? It could be coming next week.
Source: Market Watch --- Desperate times call for desperate measures, and times are, arguably, increasingly desperate. The persistence of high inflation might force the Federal Reserve to resort to the biggest increase in a key U.S. interest rate in more than 40...
Thinking About Rolling Closing Costs Into a Mortgage? Consider These Pros and Cons
Source: The Motley Fool --- When you purchase a home you are going to have to pay closing costs. These are fees for things like mortgage origination and transfer taxes. And they can be quite expensive. In fact, you can expect to pay around 2% to 5% of the value of the...
Mortgage Rates Spike Again to Highest Levels Since 2008
Source: US News Money --- Mortgage rates surged higher this week, according to Freddie Mac, continuing a monthlong trend of rate increases. The average interest rate on a fixed 30-year mortgage is the highest it's been since 2008, at 5.89%. For the 15-year fixed...
Bank of America CEO pushes back on criticisms of zero-down mortgages for minority communities
Source: Fox News --- North Carolina-based Bank of America recently came under fire over a reported plan to offer zero-down mortgages in minority communities, with some critics lodging complaints over the racial aspect, while others warned it reminded them of the...
Are we seeing a mortgage rate lockdown?
Source: Housing Wire --- The premise of a mortgage rate lockdown is simple: so many American households have such low mortgage rates that some will never move once rates rise, which then locks up housing inventory. This is something I’ve never believed in because we...
Bridge to let: Everything you need to know
Source: Mortgage Introducer --- Bridge to let mortgages work well for homebuyers who would be unable to afford a property using a traditional mortgage. But what is bridge to let finance? Who does bridge to let work best for and what are the main advantages? Here is...
Fixed-rate mortgage bomb set to go off
Source: Elite Agent --- Thousands of borrowers on fixed-interest home loans are facing an interest rate “cliff” and could be plunged into mortgage stress by the end of the year. According to Finder, $29.8 billion worth of fixed-rate mortgages are due to expire by the...
Should I pay off my mortgage or use the money for a deposit on a second property?
Source: The Guardian --- Q I’m a 42-year-old full-time professional and in a rather fortunate but tricky situation, which I would like your help with. My seven-year fixed-rate mortgage is coming to an end on 2 May 2023, after which I am not sure whether I should...
The 7 Best Reverse Mortgage Alternatives
Source: Entrepreneur --- Reverse mortgages let older homeowners cash out their home equity without selling their residences or taking on debt payments. However, the loans have costs and eligibility restrictions that can cause other solutions to be more favorable. If...
Citi to Expand Program Making Homeownership More Attainable
Source: The Motley Fool --- Buying a home can be challenging for low- and moderate-income mortgage applicants for a number of reasons. First, those who don't earn a lot of money often struggle to come up with funds for a down payment. Also, mortgage applicants with...
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