Mortgages

The States With the Highest Number of Assumable Mortgages—and How To Get One

Mortgages, Residential / By

Published by REALTOR.com | July 31, 2024 Would-be homebuyers are getting increasingly savvy when it comes to buying a house as mortgage rates continue to hover around 7%. One way is through home loan assumption—which means the buyer takes over the house’s original mortgage (and interest rate) upon purchase. But, the loan can be assumable …

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Mortgage Refinance Falls Again, Despite Homeowners Sitting On $17T in Equity

Interest Rates, Mortgages / By

Published by FOX Business | July 10, 2024 American homeowners are sitting on a record $17 trillion in equity, yet the rapid rise in mortgage rates over the past two years has prevented many of them from tapping their equity in order to refinance. Data published Wednesday by the Mortgage Bankers Association (MBA) shows that …

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Why Mortgage Rates Vary by State and Which States Have the Lowest

Housing Market, Interest Rates, Mortgages / By

Published by REALTOR.com | June 6, 2024 As with everything in real estate, where you live also has an impact on what kind of mortgage rate you can get. It’s a challenging housing market for home buyers, with home prices at an all-time high and mortgage rates above 7%. Eagle-eyed house hunters may notice a …

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Mortgage Fraudster Who Served 13 Years in $55M Scheme Now Helps Fight Scammers

Behind The News, Fraud, Mortgages / By

Published by REALTOR.com | May 4, 2024 Since his guilty plea, Cox says he’s reformed and has turned his unusual talents to fighting fraud. In the late ’90s, Matthew Cox was 29 and starting a new job as a mortgage broker in Tampa, FL, when he committed his first act of mortgage fraud by erasing a borrower’s late payment …

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Mortgage Rates Just Topped 7%, Triggering a ‘Sense of Helplessness’ for Many Would-Be Homebuyers

Interest Rates, Mortgages, Residential / By

Published by REALTOR.com | April 18, 2024 These higher rates are frustrating homebuyers and sellers, thwarting many of their plans. Mortgage rates are back up above 7%. Even worse, rates could rise further after U.S. Federal Reserve Chair Jerome Powell said policymakers were in no rush to cut rates while inflation remains stronger than anticipated. …

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How We Bought A Home With A 2.6% Assumable Mortgage

Mortgages, Residential / By

Published by REALTOR.com | March 1, 2024 Assumable mortgages are considered the unicorns of the loan world. Some say it’s because there’s not much in it for lenders. But these homebuyers prevailed. Here’s how, and why they’re so glad they did. Mickey Ricard and Grace Lucchese were excited to buy their first home together. But …

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The New Battle in Divorce: Who Gets Custody of the Low Mortgage Rate?

Interest Rates, Mortgages / By

Published by REALTOR.com | January 23, 2024 When a marriage splits up, the question of who walks away with the lower mortgage rate sparks far more than casual jealousy When Ann Shea, 44, was finalizing a divorce last year, she knew she wanted to keep the suburban Chicago home where she was raising her school-age …

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What Happens With Mortgages if There’s a Recession?

Economy, Interest Rates, Mortgages / By

Published by Real Estate News | December 18, 2023 Even if the hoped-for economic “soft landing” isn’t so soft, don’t expect to see a wave of short sales and foreclosures this year. Though mortgage rate relief appears to be on the horizon, it’s still anyone’s guess which direction the housing market will go in 2024. The …

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Mortgage Rate Forecasts For 2024 Signal A Comeback For Real Estate

Interest Rates, Mortgages / By

Published by Forbes.com | January 5, 2024 Falling mortgage rates will make it easier to buy homes this year, economists say. Economists predict the real estate market will recover in 2024 after a spike in mortgage rates and a shortage of properties sent sales tumbling to a 28-year low in 2023. Home sales likely will climb …

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