Housing Wire

FEBRUARY 15, 2024

Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. Federal Housing Administration (FHA) borrowers must pay mortgage insurance for the life of their loan regardless of equity levels.

Fixed-rate mortgage 482

Fixed-rate mortgage Equity Mortgages Loans 482

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

Renovation 379

Renovation Fixed-rate mortgage Equity Finance 379

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. The mortgage industry is different from 14 years ago.

Fixed-rate mortgage 368

Fixed-rate mortgage Mortgages Loans Loan Officer 368

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 393

Mortgages Seller concession Fixed-rate mortgage Loans 393

Housing Wire

JANUARY 5, 2024

Few things affect the real estate market more than the rise and fall of interest rates , which has a ripple effect that directly influences everything from buyer behavior to market trends. Back then, the FOMC lowered the rate to near zero, where it remained for several years.

Fixed-rate mortgage 432

Fixed-rate mortgage Agents Marketing Lending 432

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgages 393

Mortgages Equity Loans Seller concession 393

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. homeowners.

Equity 391

Equity Fixed-rate mortgage Principal Mortgages 391

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 trillion in 2021. homeowners.

Equity 382

Equity Fixed-rate mortgage Principal Loans 382

Housing Wire

APRIL 22, 2021

A year after issuing its first Single-Family Green Mortgage Backed Security on Earth Day 2020, Fannie Mae has now completed 25 transactions for the program, totaling $167 million in bonds backed by mortgages on newly constructed, energy-efficient homes. but are well-established in Europe. Horton, Lennar Corp. and NVR Inc.

Fixed-rate mortgage 367

Fixed-rate mortgage Finance Investor Loans 367

Housing Wire

AUGUST 10, 2023

The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Mortgage , and/or Closing Cost Credit. Wells Fargo’s mortgage originations reached $7.8

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

HomeLight

OCTOBER 30, 2023

If you have a second mortgage on your house and you’re thinking of selling, you probably have some concerns. According to FreddieMac, The 30-year fixed-rate mortgage is preferred by almost 90% of homebuyers due to its combination of affordability and flexibility, making it the top choice. What is a second mortgage?

Equity 105

Equity Loans Mortgages Fixed-rate mortgage 105

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond.

Mortgages 369

Mortgages Marketing Banks Loans 369

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgages 519

Mortgages Marketing Lending Loans 519

Housing Wire

OCTOBER 16, 2023

And the grind may not end anytime soon, Mortgage Bankers Association President and CEO Bob Broeksmit told attendees in a fiery speech at the trade group’s annual conference this week in Philadelphia. on a standard 30-year fixed-rate mortgage. The Fed, for example, could buy mortgage-backed securities.

Fixed-rate mortgage 402

Fixed-rate mortgage Banks Lending Mortgages 402

Housing Wire

JUNE 6, 2022

Fintech lender Figure Technologies and multichannel originator Homebridge Financial Services last August announced a merger that they claimed would usher in monumental change to the mortgage industry. They will also work together to develop new products, such as a home equity line of credit (HELOC) and piggyback products. “We

Fixed-rate mortgage 392

Fixed-rate mortgage Lending Technology Loans 392

Realty Biz

SEPTEMBER 30, 2023

Mortgages with Low Credit Scores Mortgages with low credit scores can appear challenging, but there are options available. Understanding how a low credit score affects your mortgage and exploring government-backed programs can help you navigate the process. Can you buy a house with bad credit?

Finance 97

Finance Debt-to-income ratio FHA loan Mortgages 97

Housing Wire

JULY 26, 2023

While the markets have already “priced in” this rate hike, which was widely expected, most investors are already wondering what it would take for the central bank to lift rates again later this year. For the housing market, that likely means a few more months with mortgage rates above 6%.

Fixed-rate mortgage 370

Fixed-rate mortgage Investor Mortgages Banks 370

Housing Wire

DECEMBER 8, 2020

Mortgage lenders are preparing for the end of LIBOR , which is set to be phased out by the end of 2021. The most viable replacement is the Secured Overnight Financing Rate (SOFR) index, which has been recommended by the Alternative Reference Rates Committee (ARRC) and endorsed by the New York Federal Reserve.

Fixed-rate mortgage 370

Fixed-rate mortgage Loans Mortgages Equity 370

Keeping Current Matters

FEBRUARY 4, 2021

In today’s housing market, there are clear financial benefits to owning a home: increasing equity , the chance to build your net worth , and appreciating home values, just to name a few. Personal finance advisor Dave Ramsey explains : “Every payment brings you closer to owning the house. You Won’t Always Have a Monthly Housing Payment.

Fixed-rate mortgage 277

Fixed-rate mortgage Equity Finance Mortgages 277

HomeLight

DECEMBER 27, 2023

Speaking with a mortgage lender — or several — before you buy a home shows that you’re a serious consumer, but talking with one of these experts before you sell a house also has several benefits. That starts with determining what it will take to pay off your mortgage. Learn More 1.

Pre-approval 109

Pre-approval Mortgages Equity Principal 109

Realty Biz

MARCH 30, 2023

Regardless, there are many things that first-time home buyers aren't aware of when it comes to getting a mortgage. We've put together a brief mortgage guide with the key information you need to know. Assess Your Finances As you might assume, a good place to begin is by assessing your finances. Let's take a closer look.

Mortgages 102

Mortgages Pre-approval Pre-qualification Due diligence 102

Marco Santarelli

MARCH 30, 2024

The decision to buy a house is a significant one, often influenced by a variety of economic factors, including interest rates. High interest rates can lead to higher monthly mortgage payments and overall borrowing costs, which may deter potential homebuyers.

Fixed-rate mortgage 111

Fixed-rate mortgage Finance Equity Mortgages 111

Redfin

DECEMBER 15, 2023

The resulting low rates sparked a surge in real estate transactions, with numerous homebuyers securing 30-year fixed-rate mortgages below 3%. If you’re a homeowner who locked in at a record-low mortgage rate, refinancing your mortgage now would be an impractical choice. What is a mortgage refinance?

Fixed-rate mortgage 66

Fixed-rate mortgage Mortgages Title search Equity 66

HomeLight

JANUARY 23, 2023

As a homeowner feeling financial pressure, you might consider refinancing your mortgage to get a lower rate or selling your home to cash out on the steep rise in home values over the last few years. The choice may be a difficult one, however, given recent interest rate hikes and historically high housing costs.

Mortgages 100

Mortgages Fixed-rate mortgage Equity Loans 100

Marco Santarelli

JULY 29, 2022

Forecast: How High Will Mortgage Rates Go in 2022. Mortgage rates have risen since the start of 2022, reflecting investors' concerns that the economy is heating up and that the Fed will cool it down and reign in inflation. Bond yields and mortgage rates declined throughout these times.

Mortgages 111

Mortgages Fixed-rate mortgage Loans Investor 111

Realtor.com

MARCH 12, 2021

Getty Images Mortgage rates are on the rise after nearly a year of record lows, providing a nudge to homeowners who want to refinance but didn’t get around to it yet. Here are some questions to consider: What rate makes sense for me? The rate for a refi will vary based on the particular homeowner.

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

Realtor.com

JULY 5, 2021

Getty Images Mortgage payments that grew more expensive over time were one of the main culprits of the housing bust that led to a worldwide, financial disaster in the mid-2000s. More homebuyers are choosing adjustable-rate mortgages, which offer lower monthly payments initially, to contend with record-high home prices.

Mortgages 121

Mortgages Fixed-rate mortgage Principal Loans 121

Realtor.com

APRIL 5, 2021

Getty Images What is an interest-only mortgage? Most interest-only home loans are adjustable-rate mortgages, or ARMs , says Scott Sheldon , a senior loan officer and consumer advocate in Sonoma County, CA. However, the rate adjusts after a specified initial period—usually three, five, seven, or 10 years—based on market indexes.

Loans 122

Loans Mortgages Principal Equity 122

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. When interest rates hovered around 8%, it really hurt affordability,” Steinway said. HousingWire’s Mortgage Rates Center showed 30-year conforming rates at 6.998% on Monday.

Mortgages 450

Mortgages Fixed-rate mortgage Equity Loans 450

HomeLight

SEPTEMBER 30, 2020

Mortgage payments can take up a good chunk of your income, especially with a new home. And the interest you pay on that mortgage loan is nothing to sneeze at. In 1982, mortgage rates hit an annual average of 16.03%. That means for a 30-year conventional mortgage loan for $250,000, you’d be paying $962,458.72

Mortgages 98

Mortgages Fixed-rate mortgage Equity Loans 98

Marco Santarelli

OCTOBER 15, 2023

If you are thinking of buying a home or refinancing your existing mortgage, you might be wondering why mortgage rates are so high in 2023. Mortgage rates have been climbing steadily since December 2021, when they hit a record low of 2.97%. Why are Mortgage Rates Going Up in 2023? at the end of 2021.

Mortgages 52

Mortgages Debt-to-income ratio Fixed-rate mortgage Loans 52

Toronto Realty Blog

FEBRUARY 24, 2021

The entire world consists of people who want to pay off their mortgage, either those who work every day with the goal in mind, or those who dream of doing so in that hypothetical, ‘what would you do if you won the lottery’ type of way. TorontoRealtyBlog. But consider the buyer of a $1,500,000 house with a 20% down payment.

Mortgages 90

Mortgages Fixed-rate mortgage Finance Equity 90

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The Federal Reserve recently signaled plans to slash interest rates three times in 2024, shifting toward the next phase in its monetary policymaking. “It There’s still going to be a lag.

Mortgages 441

Mortgages Loan Officer Loans Equity 441

Lighter Side of Real Estate

MAY 17, 2023

By buying a house, you’re paying down the mortgage and gaining equity over the years. Your mortgage payment can stay more or less the same for 30 years when you own a house. Eventually you won’t have a mortgage to pay. Rent never ends, but you can eventually pay off your mortgage.

Fixed-rate mortgage 84

Fixed-rate mortgage Equity Mortgages Finance 84

Housing Wire

SEPTEMBER 27, 2023

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. “These trends are likely to continue given further increases in interest rates in 2023.” At Mortgage News Daily , it was at 7.50%. million in 2022. million in 2021.

Debt-to-income ratio 401

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 401

Housing Wire

SEPTEMBER 9, 2021

The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.86%.

Fixed-rate mortgage 464

Fixed-rate mortgage Mortgages Equity Lending 464

HomeLight

SEPTEMBER 13, 2021

Unless you’ve been living under a rock, you’ve seen news reports touting record-breaking, rock-bottom mortgage interest rates. According to the Federal Reserve Bank of Saint Louis, the average 30-year mortgage interest rate plummeted by 33% from January 2018 to January 2021, from 3.95% to 2.65%.

Mortgages 79

Mortgages Equity Closing costs Loans 79