Mortgages

Affordability Squeezing Homebuyers’ Wallets as Builders Face ‘Worst-Case Scenario’

Economy, Mortgages / By

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 …

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Housing Agency Reports Record Financial Cushion as it Braces for Market Downturn

Economy, Mortgages / By

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 …

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Just How Low Will Home Prices Go This Year?

Economy, Interest Rates, Mortgages / By

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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Report: Mortgage Holders Lost Massive Equity In The Third Quarter

Economy, Mortgages / By

Published by FOX Business | November 8, 2022 The report stated a loss of $1.3 trillion U.S. mortgage holders saw a massive loss of equity in the third quarter, mortgage-lending software and analytics company Black Knight found. Black Knight’s Mortgage Monitor Report, released Tuesday, said the total homeowner equity lost in the three-month period amounted to …

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5 Practical Tips To Get The Lowest Mortgage Rate Possible

Interest Rates, Mortgages / By

Published by Forbes.com | October 28, 2022 If you’re in the market to purchase a home, you know that mortgage rates are rising. Rates surpassed 7% for the first time in 20 years. And higher mortgage rates send monthly payments up significantly. A $240,000 mortgage at a 7.544% rate on a 30-year loan generates a monthly principal …

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60K Real Estate Deals Called Off in September

Interest Rates, Mortgages / By

Published by FOX Business | October 20, 2022 Redfin projects mortgage rates may not fall until early to mid-2023 Red-hot mortgage rates are giving home buyers and sellers cold feet. About 17% of homes that went under contract with real estate brokerage Redfin last month were called off. The technology-powered real estate firm reported that approximately …

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30-Year Mortgage Rates Increase to 6.92% — Highest Since 2002

Interest Rates, Mortgages / By

Published by Breitbart News | October 13, 2022 The 30-year fixed mortgage rate rose to 6.92 percent on Thursday, the highest rate in over 20 years. According to data from Freddie Mac, after the 30-year-mortgage fixed mortgage rate declined by 0.04 percent from 6.7 percent on September 29 to 6.66 percent a week ago, it has since …

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FHA Moves to Include On-Time Rental Payments for First-Time Buyers

Mortgages, Rental Property / By

Published by REALTOR Magazine | September 28, 2022 “If you’re regularly paying your rent on time, that’s a good indication you will also pay your mortgage on time,” says the Federal Housing commissioner. The Federal Housing Administration published a letter to lenders urging them to consider including a borrower’s positive rental payment history when applying …

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Mortgage Rates Surge to 6.7% — More than Double Since Last Year

Interest Rates, Mortgages / By

Published by Breitbart News | September 29, 2022 The 30-year fixed mortgage rate surged to 6.7 percent on Thursday, more than double what it was a year ago. According to data from Freddie Mac, the 30-year fixed mortgage rate jumped by 0.41 percent from a week ago. A year ago, the rate was at 3.01 percent. It is …

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