article thumbnail

How the Fed’s rate hike will affect the housing market

Housing Wire

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. There’s still demand for homes, loan officers told HousingWire. “I

Marketing 417
article thumbnail

Mortgage rates might soar even higher

Housing Wire

Marty Green, principal with mortgage law firm Polunsky Beitel Green , described increasing affordability pressures in the housing market as “throwing cold water on what was a frenzied residential real estate market.”. A five-to-seven-month supply is viewed as a healthy balance between supply and demand.

Mortgages 417
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Mortgage Partnership Gives Georgia Broker the Edge in a Red-Hot Market

RIS Media

“With Rocket Mortgage, I’m able to get people approved fairly quickly, and they are as flexible and available to me as I am to my client,” says DaCosta, an agent at Better Homes and Gardens Real Estate Metro Brokers. “I also have two loan reps who are there when I’m putting in a loan referral.”

article thumbnail

How to Apply For a First-Time Home Buyers Loan: Simplifying the Process Into 8 Doable Steps

HomeLight

Second mortgages : These are loans you can take out to subsidize the down payment in addition to taking out a principal mortgage. These classes may be available online or in-person, and you will need to supply a certificate of completion to your loan officer. Step 5: Get preapproved for your loan.

Loans 93
article thumbnail

Options to Unlock Your Home Equity When Finances Are Tight

HomeLight

As determined as ever to achieve their dream of paying off debt (or owning a vacation home), the homeowners investigate the possibility of a home equity loan. If that application is approved, they now have two loans. They do not repay principal and interest immediately.

Equity 100
article thumbnail

The strategy behind UWM’s multibillion dollar investment

Housing Wire

Ishbia is confident his firm can benefit from this trend by cutting prices for brokers and bringing more retail loan officers to its wholesale channel, whose market share currently stands at around 20%. I can get you (borrower) a conditional loan approved in 20 minutes. million in the first quarter.

Equity 407
article thumbnail

Looking for a Mortgage Lender? Here Are 19 Questions to Ask Them Before You Commit

HomeLight

These are things you just might not know as a buyer — but your agent and loan officer can give you guidance! What type of home loans do you offer? There are several types of home loans out there, and you’ll want to ask any potential lender which ones they offer, as not all lenders support all loan types.