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Increased Foreclosure Activity in First Six Months of 2022 Approaches Pre-Covid Levels

Published by Attom Data | July 14, 2022 U.S. Foreclosure Starts up 219 Percent in First Six Months of 2022; 96 Percent of Major Metro Areas Saw an Annual Increase in Foreclosure Filings; Foreclosure Rates Highest in Illinois, New Jersey, and Ohio ATTOM, a leading curator of real estate data nationwide for land and property data, today released its …

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Mortgage Rates Jump as Home Affordability Drops

Economy, Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | July 14, 2022 The average for a 30-year fixed-rate loan is now at 5.51%, up 2.88% from a year ago U.S. mortgage rates are up again after two straight weeks of declines, as the cost of homeownership continues to price would-be buyers out of the housing market. That’s causing some …

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Sky-High Listing Prices Are Finally Starting To Come Back Down To Earth

Mortgages / By W. J. Mencarow

Published by Forbes.com | July 3, 2022 The Fed’s historic mortgage rate hike put a damper on home buyer activity. More and more, home sellers are giving in to the mounting pressure on affordability posed by June’s rapid mortgage rate hike, according to a new report from Redfin, a technology-powered real estate brokerage. The median …

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3 Signs of a Great Mortgage Note Investment

Investments, Mortgages / By W. J. Mencarow

Written by: Catherine Way | Published June 27, 2022 Investing in real estate is a great way to not only diversify your portfolio but build passive income and see high returns. While house flipping or becoming a landlord may be too time-consuming, you can easily invest in real estate in a hands-free way. That is …

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JPMorgan’s Mortgage Business Lays Off, Reassigns Hundreds of Employees as Rates Climb

Economy, Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | June 22, 2022 Average 30-year, conventional, fixed-rate mortgage hit 5.23% in May: Freddie Mac JPMorgan Chase’s mortgage business has become the latest casualty of layoffs as the Federal Reserve’s efforts to tame scorching-hot inflation send rates higher and dampen housing demand. A source familiar with the matter confirmed to FOX Business …

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As Housing Cools, Mortgage Loan Size Falls

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | June 22, 2022 The average mortgage loan amount is down markedly from its peak in mid-March The average loan amount for a home mortgage in the U.S. is down markedly from the high in mid-March, indicating that the housing market is cooling as interest rates rise. The Mortgage Bankers Association’s latest Weekly …

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EXPERT: Recession Could Lead to Decline in Home Prices

Economy, Mortgages / By W. J. Mencarow

Published by FOX Business | June 21, 2022 Sales of existing homes slowed for the fourth straight month, according to the National Association of Realtors Chief Economist at Redfin Daryl Fairweather argued that a recession could coincide with a decline in home prices as prices continue to climb even while data reveals that sales have slowed. …

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Mortgage Rates Jump, Reaching 5.23%

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | June 9, 2022 This comes ahead of a Federal Reserve meeting where a raise in its main borrowing rate is expected Average long-term U.S. mortgage rates made a swift jump this week, further squeezing cash-strapped American homeowners. On Thursday, a 30-year fixed-rate mortgage averaged 5.23%, according to Freddie Mac. That’s up from …

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Home Sellers in Hot Markets are Dropping Prices as Demand Wanes

Interest Rates, Mortgages / By W. J. Mencarow

Published by FOX Business | May 31, 2022 The rise in mortgage rates is pricing out buyers Price drops are “becoming increasingly common” in some of the most popular housing markets across the United States. According to new Redfin data, more than 20% of home sellers dropped their price in seven of the 10 most …

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Chief Economist For NAR Predicts Uncertainty For Housing Market

Covid-19, Interest Rates, Mortgages, Russia-Ukraine War / By W. J. Mencarow

Published by Forbes.com | May 5, 2022 NAR calculates purchasing a home is now 55% more expensive than a year ago. Two years after enduring the devastating financial impacts of Covid-19, the U.S. economy has made an impressive comeback, in large part due to a booming housing market. But as Lawrence Yun, chief economist for …

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