Housing Wire

MAY 26, 2021

After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. The post Mortgage applications decrease 4% appeared first on HousingWire.

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Housing Wire

DECEMBER 15, 2021

“Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

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Housing Wire

JULY 28, 2021

Mortgage applications increased 5.7% for the week ending July 23, mostly on the back of fast-falling mortgage rates. And the 15-year rate fell to a record low last seen in 1990. Those ultra-low rates naturally resulted in a sharp uptick in refinancing activity. from 10.5%.

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Housing Wire

MARCH 17, 2021

Mortgage applications dropped for the second straight week — falling 2.2%, according to the latest report from the Mortgage Bankers Association. The continued increase in mortgage rates is to blame, according to MBA’s Associate Vice President of Economic and Industry Forecasting Joel Kan. from 11.1% the week prior.

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Housing Wire

JANUARY 20, 2021

Additionally, the 15-year fixed rate increased for the first time in seven weeks to 2.48%. The VA share of total mortgage applications increased to 13.8% The post Mortgage applications decrease as rates move higher appeared first on HousingWire. from 15.8% the week prior.

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Housing Wire

JUNE 9, 2021

Mortgage applications fell 3.1% in the week ending June 4, and refis took the biggest dip, according to the latest report from the Mortgage Bankers Association. Most of the decline in mortgage rates came late last week, with the 30-year fixed-rate mortgage declining to 3.15 the previous week.

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Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

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Housing Wire

MARCH 24, 2021

“As both home-price growth and mortgage rates continue this upward trend, we may see affordability challenges become more severe if new and existing supply does not significantly pick up.”. That’s coupled with a rise in mortgage rates , too. The VA share of total mortgage applications decreased to 9.8%

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Housing Wire

APRIL 7, 2021

Mortgage applications decreased for the fifth straight week – this time down 5.1%, according to the latest report from the Mortgage Bankers Association. Refinance mortgage applications declined for the fifth straight week. However, the VA share of total mortgage applications increased to 13.38% from 10.3% the week prior.

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Housing Wire

MAY 12, 2021

of total mortgage applications from 61% the previous week. The post Mortgage applications jump as rates fall to 2.96% appeared first on HousingWire. That’s also around the time the COVID-19 pandemic began spreading throughout the country, he noted. The refinance share of activity increased to 61.3%

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Housing Wire

OCTOBER 7, 2020

Refinances continued to hover around two-thirds the share of mortgage activity as they increased to 65.4% The average loan size increased again to a new record at $371,500, as activity in the higher loan size categories continues to lead growth.”. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 2.2%

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Housing Wire

MARCH 31, 2021

The 30-year fixed rate also dropped, reported at 3.33% after seven weeks of increases – but it’s still almost half a percentage point higher than the beginning of 2021. Record-low inventory is pushing home-price growth at double the rate from a year ago, and even above the 10% growth rates seen in 2005,” Kan said.

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Housing Wire

JANUARY 6, 2021

But mortgage applications dropped during the week ending Jan. The VA share of total mortgage applications increased to 13.6% The post Mortgage applications drop over holidays appeared first on HousingWire. 1 – an annual occurrence during the holiday season. That should change as the year progresses, Kan said. from 12.1%

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Housing Wire

MAY 19, 2021

. “Ongoing volatility in refinance applications is likely if rates continue to oscillate around current levels,” Kan said. As a result, home prices and average purchase loan balances continue to rise, with the average purchase application reaching $411,400 — the highest since February.”. of total mortgage applications from 61.3%

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Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. This article is part of our HousingWire 2022 forecast series.

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Marco Santarelli

SEPTEMBER 30, 2023

FHA mortgage rates are typically higher than conventional mortgage rates, but they can be a good option for borrowers with lower credit scores or smaller down payments. The minimum credit score for an FHA loan is 580 with a 3.5% However, many FHA lenders require credit scores of at least 620.

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Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory. 2022 to Dec.

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HomeLight

NOVEMBER 6, 2023

Partner with a top agent familiar with assumable mortgage listings HomeLight can connect you with a top real estate agent familiar with assumable mortgage listings in your market. Get Started What is an assumable mortgage? To determine if a mortgage loan is assumable, you need to consider the type of loan and its specific terms.

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Housing Wire

APRIL 5, 2023

Mortgage rates declined last week as headlines on the bank crisis slowed, which could have spurred borrowers’ demand for home loans. Overall, mortgage applications declined 4.1% last week on a seasonally adjusted basis, down from one week earlier, according to the Mortgage Bankers Association (MBA).

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HomeLight

NOVEMBER 20, 2023

Finding an assumable mortgage is like a dual treasure hunt. As a buyer, you will not only be looking for the right home at the right price, but you’ll also be on an expedition to discover if the seller’s loan is assumable. Because of these golden benefits, assumable loans are in demand. Get Started What is an assumable mortgage?

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Lab Coat Agents

FEBRUARY 7, 2023

Types Of Mortgage Loans Several types of mortgage loans are available to borrowers, and the type that is best for you will depend on your circumstances. The most common types of mortgages are: 30-year fixed-rate mortgage: With this type of loan, the interest rate remains fixed for the entire term, typically 30 years.

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Point2Homes

AUGUST 26, 2021

In this guide, we’ll take a quick look at the different types of mortgage loans available. Conventional Loans. A conventional loan is any mortgage loan that is not guaranteed or insured by a government entity. Here are the most common types to look out for: Fixed-Rate Mortgages.

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Housing Wire

OCTOBER 21, 2020

Fratantoni brought up this point, saying that short-term rates will stay at 0% at least until 2022 and said that we will see a very cautious Fed when it comes to raising rates from here. However, he forecasted that rates will steadily rise over the next year. And the recovery will likely depend on how long the pandemic lasts.

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Marco Santarelli

APRIL 24, 2024

Holding Your Ground: The Waiting Game's Potential Pitfalls Let's imagine you decide to wait for rates to fall. Housing prices might surge further while you wait patiently, potentially negating any benefits from a lower interest rate. You're essentially betting on a future decrease, aiming to secure a better deal.

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Pre-approval Mortgages FHA loan Fixed-rate mortgage 52

Realty Biz

DECEMBER 30, 2022

Conventional Mortgage. Of all the different types of mortgage loans that we're going to discuss, conventional mortgages are the most common. As long as you're able to qualify for one, it's probably the type of mortgage loan that you'll want to take out when you're buying a house.

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Housing Wire

APRIL 13, 2021

The share of refinances in mortgage origination volume dipped below 50% for the first time in 15 months in March, according to Black Knight ‘s new monthly data report, the Originations Market Monitor. With interest rates continuing to tick up, the purchase mortgage market is where most lenders will focus operations over the next year.

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Norada Real Estate

JUNE 22, 2022

In a conventional mortgage, the down payment is the smallest and the rate of interest is also lower. In the case of a Non-Recourse Loan, the investor puts an asset forward. You don't need to pay a bank attorney for the mortgage. We all know that in a real estate investment “cash-is-king.”

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HomeLight

OCTOBER 15, 2020

We talked to Jessica Sanchez, Director of Underwriting & Loan Management at HomeLight Home Loans, to walk through the ins and outs of conventional loans. What’s a conventional loan? A conventional loan is a private mortgage that’s not backed by the federal government (we’ll get to government loans in a bit).

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Realty Biz

SEPTEMBER 30, 2023

Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements. Higher interest rates: Keep in mind that having bad credit may result in higher interest rates on your mortgage.

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HomeLight

JUNE 22, 2023

All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. All of these things are stressful and confusing, but you’d be surprised by how many people struggle with the mortgage process. And they need answers to their mortgage questions.

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Windemere Buying

FEBRUARY 14, 2022

So, which home loan is the right one for you? Knowing the different types of mortgage loans available to you will allow you to pinpoint the one that best fits your needs and is financially viable. Due to the added risk taken on by the lender, non-conforming loans typically have higher rates.

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Realty Biz

APRIL 8, 2024

This includes checking your credit score, saving for a down payment, and getting pre-approved for a mortgage. Answer: What you can afford depends on your income, credit rating, current monthly expenses, down payment, and interest rate. What Is a Mortgage Pre-Approval? Buying your first home is a big deal. What Is PMI?

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Realty Biz

FEBRUARY 7, 2023

Some people will search for mortgage lenders near me if they want their bank to be nearby. For example, do you want a 30-year fixed or adjustable-rate mortgage? A fixed-rate mortgage will give you more stability if you stay in the home longer. Each of these types of loans has its pros and cons.

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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. To get the best rate for your situation, be sure to look closely at each type of mortgage. Let's take a closer look.

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Realty Biz

APRIL 11, 2022

Her friend said to call a local real estate agent and ask for the name and number of someone that can help us shop for a mortgage. My sister did call an agent and was told she needs to act fast because interest rates are going up and the longer we wait, the more expensive buying a house is going to be.

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Realty Biz

JANUARY 3, 2023

Anybody who’s thinking about buying a home might be interested in knowing the average mortgage rate. As of January 2023 , the average mortgage rate sits right around 6.59%. That’s more than double the rate that borrowers were getting in early 2021. Homebuyers Are Watching Other Factors beyond the Interest Rate.

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Realtor.com

JANUARY 10, 2022

Some mortgages are still structured to reflect that idea. Given rising home costs, the reduced buying power that comes with a single income, and the way mortgages are structured, becoming a homeowner as a single person might not seem easy. Government-insured loans are a good option and have a lower down payment requirement, too.”

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