Published by FOX Business | February 8, 2023 The average loan size increased in the past week to $428,500 – the largest average since May 2022 Activity in the housing market showed a rebound in the past week as mortgages rates fell for a fifth straight week. The 30-year fixed mortgage rate inched lower to 6.18%. …
Mortgage Activity Rebounds, Skewed Toward High-Priced Homes Read More »
Published by Forbes.com | January 16, 2023 In an attempt to correct perceived abuses, the NY legislature may have made the foreclosure process even worse. Between Christmas and New Year’s Day of 2022, New York’s Governor signed legislation designed to correct an alleged potential for “abuse” of the foreclosure process by mortgage lenders. The context …
New York Legislature Gives Lenders A New Way To Screw Up Foreclosures Read More »
Published by Forbes.com | January 11, 2023 Wells Fargo will not make any new mortgage loans to white people who are not already customers. They’ll be focusing on providing mortgages to those in minority communities. One of the three biggest mortgage lenders (and once holding the number one spot) in the United States, Wells Fargo, …
Wells Fargo Is Backing Out Of The Mortgage Market – What Does It Mean For Homebuyers? Read More »
Published by REALTOR.com | December 19, 2022 Rising borrowing costs have dramatically increased the cost of buying a home this year, reviving interest in mortgage products like temporary buydowns that fell out of favor after the 2008 financial crisis. Carley Chase found her dream home in Chandler, Ariz., this summer: a three-bedroom ranch, close to work, with a …
Published by FOX Business | December 15, 2022 The 30-year fixed-rate mortgage (FRM) averaged 6.31% The average long-term U.S. mortgage rate declined for the fifth straight week, even as the Federal Reserve just raised its key borrowing rate for the seventh time this year and signaled there were more to come in 2023. The 30-year fixed-rate …
Published by WJTV News | December 10, 2022 The findings reflect a real estate market that has seen home prices cool in recent months amid a period of rapidly rising mortgage rates. More than 250,000 borrowers who purchased homes this year now owe more than their house is worth today, according to a new analysis. …
Study: More Than 250K Homebuyers in 2022 are Underwater on Mortgages Read More »
Published by Forbes.com | November 24, 2022 Given that rising interest rates are what has prompted the slow down, it stands to reason that continuing on this path will put more pressure on real estate. Over the past few weeks mortgage demand has crept up slightly as mortgage rates have come down. Even so, the …
Mortgage Demand Down Up To 88% From This Time Last Year Read More »
Published by FOX News | November 17, 2022 Redfin reports homebuyers need to make at least $107K annually to afford typical U.S. home The leader of the nation’s largest trade association for homebuilders has warned of a “worst-case scenario” facing some housing markets as homebuyers get squeezed. “Right now, in almost no market in this …
Affordability Squeezing Homebuyers’ Wallets as Builders Face ‘Worst-Case Scenario’ Read More »
Published by FOX Business | November 15, 2022 FHA’s capital reserves rise to $141.7 billion, up $42 billion from 2021, giving officials room to trim mortgage costs A federal housing agency on Tuesday said its financial reserves have reached record levels and that it was well positioned to weather a mortgage-market downturn. The audit, released …
Housing Agency Reports Record Financial Cushion as it Braces for Market Downturn Read More »
Published by REALTOR.com | November 11, 2022 All eyes have been glued to mortgage rates lately as those all-important fees continue their seemingly inexorable upward march. While average rates for a 30-year fixed-rate mortgage dipped to 6.95% last week, that figure climbed back to 7.08% for the week ending Nov. 10, according to Freddie Mac. And if inflation refuses …
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