Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. In early January, rates were as low as 3.4%.

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Marketing Fixed-rate mortgage Loan Officer Pre-approval 421

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.

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Equity Fixed-rate mortgage Principal Mortgages 394

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.

Equity 384

Equity Fixed-rate mortgage Principal Loans 384

Housing Wire

SEPTEMBER 17, 2021

Recent comments from Federal Reserve Vice Chair Richard Clarida reaffirmed the Fed’s previously stated timeline of 2023, and unless economic conditions improve drastically over the next 12 to 18 months, this would be the earliest that the Fed would consider raising the Fed funds rate.

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Marketing Fixed-rate mortgage Mortgages Principal 399

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.

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Mortgages Fixed-rate mortgage Principal Loans 121

RIS Media

MARCH 28, 2022

A brand-new report from the Mortgage Bankers Association (MBA) says homebuyer affordability decreased in February, with the national median payment applied for by applicants jumping 8.3% in January 2022, meaning payments on new mortgages take up a larger share of a typical person’s income. to $1,653 from $1,526 in January.

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Mortgages FHA loan Fixed-rate mortgage Principal 98

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 458

Mortgages Fixed-rate mortgage Equity Loans 458

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.

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Mortgages Fixed-rate mortgage Principal Loans 56

Redfin

JULY 11, 2023

In this comprehensive guide, by Redfin, we will delve into ten common questions about mortgages, offering valuable insights and expert answers. What is a mortgage? A mortgage is a loan specifically designed for purchasing a property, commonly a home. How does a mortgage work? What are the different types of mortgages?

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Pre-approval Mortgages Pre-qualification Debt-to-income ratio 59

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.

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Mortgages Loan Officer Loans Equity 450

Toronto Realty Blog

JUNE 20, 2022

It’s impossible to satisfy every individual, every industry, and every market segment and/or participant. So what was it like “back in my day,” as some of our parents would say, when interest rates were sky-high? monthly payment, how much, on average in the first year, was principal being paid down? $7.

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Principal Fixed-rate mortgage Pre-approval Mortgages 97

Housing Wire

MARCH 20, 2023

Much as the Fed was blind to the liquidity crises created by its rapid pace of rate increases, we believe the Fed has also failed to appreciate how severely its actions have imperiled the housing market. In 2021, mortgage originations hit a record high of $4.4 Independent mortgage companies have no such luxury. trillion in 2023.

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Banks Mortgages Fixed-rate mortgage Loans 388

Housing Wire

OCTOBER 5, 2023

Fannie Mae on Thursday announced that its Desktop Underwriter (DU) system will include new changes to the maximum allowable loan-to-value (LTV) ratios for two- to four-unit, principal residence, purchase and limited cash-out transactions, as well as other updates to further align the system with recent changes to the Selling Guide.

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Loans Fixed-rate mortgage Principal Renovation 450

Housing Wire

AUGUST 11, 2022

Likewise, Atlanta-based A ngel Oak Mortgage Inc. , a real estate investment trust focused on nonqualified mortgages, or non-QM, recently announced that it was struggling with red ink — recording a net loss of $52.1 a long-term player in the non-QM mortgage market. Redwood Trust Inc. , The Angel Oak Cos.

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Mortgages Loans Residential Lending 383

Norada Real Estate

JUNE 22, 2022

In a conventional mortgage, the down payment is the smallest and the rate of interest is also lower. There are three basic ways to finance turnkey rental properties – Cash, Borrowing, and Loan or Mortgage. You don't need to pay a bank attorney for the mortgage. Fixed-rate mortgages.

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Finance FHA loan Investor Loans 95

Redfin

SEPTEMBER 27, 2021

Shopping for a mortgage, you might encounter lenders who pre-qualify you for a higher loan amount than you expected. Step 1: Understand what percentage of your income should go toward your mortgage . The first step is understanding how much you can afford to spend on a mortgage. Determine your debt to income ratio (DTI).

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Debt-to-income ratio Closing costs Loans Title 72

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. And they need answers to their mortgage questions. As a first-time homebuyer, you’re likely among the 85% of buyers who will apply for a home mortgage instead of paying cash.

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Debt-to-income ratio Mortgages FHA loan Loans 90

HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. A great agent also has relationships across the industry. Getting a mortgage can be a stressful and frustrating process. Here are a few tips to get ahead of the game and mortgage like a champ!

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Housing Wire

AUGUST 29, 2022

In 2021, United Wholesale Mortgage (UWM) CEO Mat Ishbia set a three-year goal to make UWM the No. Ishbia, who started running his father’s mortgage firm in 2013 and has since grown it into the country’s No. 2 lender, isn’t satisfied with second place, behind Rocket Mortgage. “I 1 lender in the country.

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Equity Loan Officer Loans Mortgages 410

HomeLight

AUGUST 28, 2020

If you’re buying a home, you probably already know you want to get the lowest mortgage rate possible. And you’ve also likely heard that mortgage rates are super low (and have been for years!) What, exactly, is a mortgage rate? How is your rate determined? And how do you get a low rate?

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Mortgages Loans Fixed-rate mortgage Principal 86

Toronto Realty Blog

MAY 26, 2022

Looks like you’ve got a pretty good following and a good foothold in this industry. It could take five-year rates from sub-2% to upwards of 6%. Now, consider that the overnight lending rate only has a direct impact on the variable rate mortgage, whereas the fixed-rates are affected by the bond market.

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Real Trends

NOVEMBER 7, 2022

Claiming the mortgage interest tax deduction. To incentivize homeownership, the government offers a mortgage interest tax deduction. Let’s say you get a 30-year fixed-rate mortgage of $350,000 with a 6.5% interest rate to buy a condo. Claiming the interest deduction on second mortgages.

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Fixed-rate mortgage Agents Equity Principal 92

Marco Santarelli

OCTOBER 22, 2022

When the Fed raises its benchmark interest rate, all types of financing become more expensive. Mortgage rates rise. Fannie Mae expects the Fed to continue raising short-term interest rates and anticipate another 75 basis point hike at its September meeting, but markets are partially pricing in a total 100 basis point increase.

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Fixed-rate mortgage Mortgages Principal Banks 52

HomeLight

JANUARY 18, 2023

In other words, it’s the amount of your home’s value minus any loans, mortgages, or other liens that are attached to your home. Equity can come from paying down your mortgage loan, gains from home appreciation, or adding upgrades that increase the value of your property. The principal balance you still owe on your mortgage.

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Equity Marketing Loans Principal 89

The Close

DECEMBER 29, 2022

Furthermore, in today’s market, understanding our complex mortgage industry could actually help you close more deals and maybe even save clients money. So we’ve included a handy download with questions your clients should ask their mortgage broker. 4 Key Interest Rate Questions That Could Save Your Clients Money.

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Toronto Realty Blog

SEPTEMBER 8, 2022

Now, having said the preceding, there were a lot of awesome suggestions and even better comments to pick-and-choose from, so let me continue with my “Top Ten” discussion points for the fall market, picking up with our fourth point… – 4) Mortgage Matters. There is so, so, so much that we can talk about here!

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Marketing Fixed-rate mortgage Banks Principal 91

Marco Santarelli

JULY 30, 2020

2018’s FRM interest rate increase decreased the principal amount homebuyers can borrow while making the same sustainable mortgage payment. Mortgage applications to purchase a home are increasing with the easing of restrictions. Compared to May, the home sales in June were up in all the six counties.

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