Remove As-is Remove Finance Remove Fixed-rate mortgage Remove Seller concession
article thumbnail

Surging mortgage rates prompt borrowers to leave no stone unturned

Housing Wire

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. A year ago at this time, rates averaged 3.14%. United Wholesale Mortgage (UWM) launched the product in August.

Mortgages 368
article thumbnail

Will new products stop the bleeding for mortgage lenders? 

Housing Wire

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 391
article thumbnail

Onto the Next: What to Know Before Selling Your Recently Purchased Home

HomeLight

If you want to, you could sell your house immediately after the paperwork says it is officially yours,” says Kimberly Porter, CEO of Microcredit Summit , a top personal finance publication. Or perhaps it is just a seller’s market and selling makes sense, even after a short time.”. Has your home appreciated enough to sell?