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UWM turns to seller concessions with new mortgage product launch

Housing Wire

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment. Staying nimble in a fast-paced market with the right mortgage technology.

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UWM expands buydown options to combat high mortgage rates

Housing Wire

United Wholesale Mortgage (UWM) this week expanded its temporary rate buydown offerings amid higher interest rates and fierce competition. The Pontiac, Michigan-based lender now has an option for borrowers to reduce their rates by 3% during the first year of the loan, compared to the maximum 2% previously offered.

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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
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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. Homepoint is in a tough spot. Homepoint’s financial statements tell the story.

Mortgages 391
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New Study Finds Seller’s Market May Shift in 2021

Realty Biz

At the beginning of 2021, median home prices were up 10% across most of the nation, the fastest rising pace since 2006, fueled by low mortgage rates and high demand. Mortgage rates are low … for now. Other factors such as inflation and Federal Reserve policies will impact mortgage rates as well. .

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Proceeds vs Profit: How Much Will I Make Selling My House?

HomeLight

During the pandemic years, plunging interest rates were counter-balanced by rising home sales. Interest rates on 30-year fixed-rate mortgages reached their highest since April 2020. Answering this question requires more than subtracting your remaining mortgage loan balance from the sales price. Net proceeds.

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When Is the Best Time to Buy a House in Colorado?

HomeLight

Across the state, the market is shifting from a hot seller’s market to a more stable, but still seller’s market. Across the state, the market is shifting from a hot seller’s market to a more stable, but still seller’s market. But even with this trend, markets are highly local, and now is a good time for buyers to jump in.