Mortgage rates are continuing to move higher this week. We’ve now seen them rise for two consecutive weeks in the Freddie Mac PMMS. The consensus is for them to continue rising for the foreseeable future. Read on for more details. Where are mortgage rates going?           … View Article
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Conventional loan home requirements: Is an inspection required?
Conventional loans have a few basic property standards, but no in-depth home condition requirements. You likely want a home inspection anyway.
Continue readingRefinance soon to avoid the FHFA adverse market refinance fee
Fannie Mae and Freddie Mac’s 0.5% refinance fee is delayed until December 1. But to avoid the fee and higher refinance rates, you need to apply sooner than that.
Continue readingHave We Seen The End of Record Low Rates?
While it might not seem like the sort of thing mortgage rates should care about, the senate run-off election in Georgia was by far and away this week’s most important event. This wasn’t a surprise either. In fact, interest rates have been bracing for this potential impact since the inconclusive results in early November. But why do rates care about politics? Actually, they don’t! Not too much, anyway. Rates care about the prices and yields of certain bonds in the bond market above all else. Bond prices can take a variety of cues, but the most basic and most objective input is that of supply and demand. Supply and demand can be influenced by several underlying factors. For instance, the Fed currently buys more than $100 billion in bonds each month. That has a huge impact on the demand side of
Continue readingPandemic Took a Bigger Bite Out of Upbeat Housing Attitudes in December
Posted To: MND NewsWire
That the pandemic is worse today than it was last spring appears to be finally dawning on a lot of consumers and the Home Purchase Sentiment Index (HPSI) for December reflects it. Fannie Mae says its index, based on six questions from its monthly National Housing Survey, dropped 6.0 points to 74.0. Five of the components moved lower and the sixth was unchanged from the prior month. It was the second month in a row that the index declined, and it is now 17.7 points lower than one year ago. Positive responses dropped for the question of whether it is currently a good time to buy a home. Fifty-two percent of respondents said it was, down from 57 percent in November, while the percentage who say it is a bad time increased from 35 percent to 39 percent. As a result, the net share of Americans who…(read more)
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Mortgage Borrowers Should Know Their Rates
Not knowing your mortgage rate can be an expensive mistake, especially in this rising interest rate market.
Yet nearly three-in-10 mortgage borrowers (29 percent) either didn’t know their mortgage rate or wouldn’t say, according to a survey by Bankrate.
This is a big problem, says Martin Choy, operations manager at Westwood Mortgage in Seattle.
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Mortgage applications rebound as mortgage rates drop
After two weeks of decreases, the Mortgage Bankers Association reported that mortgage applications increased 1.1% during the week ending Dec. 11 amid mortgage rates that hit a new survey low.
The post Mortgage applications rebound as mortgage rates drop appeared first on HousingWire.
Continue readingMortgage rates drop, housing market remains ‘strong’ amid coronavirus crisis – Fox Business
Mortgage rates drop, housing market remains ‘strong’ amid coronavirus crisis Fox Business
Continue readingLoanLock Mortgage Review: Their Goal Is to Deliver Stress-Free Loans
While shopping for a home loan, you may have come across âLoanLock,â a SoCal-based mortgage company that wants to make lending simple. In fact, their one goal is to deliver stress-free loans to every borrower, every time. Theyâre also big on transparency, with a promise to never charge âcredit check, application, or lock-in fees.â Since [&hellip
The post LoanLock Mortgage Review: Their Goal Is to Deliver Stress-Free Loans first appeared on The Truth About Mortgage.
Continue readingBest Home Loans For Single Mothers
Affording to buy a house can be hard enough even as a couple. And for single mothers, unless they earn a high income, getting home loans is even harder. Fortunately, there are home loans for single mothers out there. FHA loan, for example, is a good option for a single parent on a low income …
Continue reading “Best Home Loans For Single Mothers”
The post Best Home Loans For Single Mothers appeared first on GrowthRapidly.
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