Mortgage News

The latest industry news, digested.

A Bank Is Offering Discounted Mortgage Rates Because Cleveland Won an NBA Championship

A Bank Is Offering Discounted Mortgage Rates Because Cleveland Won an NBA Championship
June 23, 2016 No Comments »

If you didn’t hear the news, LeBron James and his Cleveland Cavaliers won the NBA championship. It’s pretty amazing because they did so after being down 3-1 in the series, meaning they had to win three straight. It’s even more ... Read More »

Guaranteed Rate Launches 1% Down Payment Mortgage Program

Guaranteed Rate Launches 1% Down Payment Mortgage Program
June 13, 2016 No Comments »

This seems to be a theme lately – super low or no down payment mortgages. The latest of these not-so-novel loan programs comes courtesy of Chicago-based bank Guaranteed Rate. The lender, which you may have heard of thanks to its ... Read More »

There’s a New ‘Lite Doc’ Loan in the Mortgage World

There’s a New ‘Lite Doc’ Loan in the Mortgage World
June 8, 2016 No Comments »

It feels a little like 2006, but it’s entirely different, or so they say. A lender by the name of Quontic Bank based out of Astoria, New York (Queens) has been offering its so-called “Lite Doc” loan to homeowners who ... Read More »

3 Signs Another Housing Crisis Is Just Around the Corner

3 Signs Another Housing Crisis Is Just Around the Corner
June 2, 2016 No Comments »

Here’s yet another post in my growing series of wondering if home prices are too high. Earlier this week, Black Knight Financial Services noted that home prices increased to within 3.8% of their all-time highs set back in June 2006. ... Read More »

Chase Also Launched a 3% Down Payment Mortgage

Chase Also Launched a 3% Down Payment Mortgage
May 31, 2016 No Comments »

It’s been a busy month for the launch of low-down payment mortgages… It turns out Chase also has a 3% down offering, though it wasn’t widely publicized like the Wells Fargo yourFirst Mortgage was last week. And there might be ... Read More »

Wells Fargo yourFirst Mortgage: You Only Need a 3% Down Payment

Wells Fargo yourFirst Mortgage: You Only Need a 3% Down Payment
May 26, 2016 No Comments »

The nation’s largest mortgage lender, Wells Fargo, is now offering mortgages to home buyers with just 3% down via their new “yourFirst Mortgage.” I’m assuming the new loan program is based on Fannie and Freddie’s 97% LTV program announced back ... Read More »

A Return to Bubble-Era Home Prices Doesn’t Signal a Crisis

A Return to Bubble-Era Home Prices Doesn’t Signal a Crisis
May 18, 2016 No Comments »

There’s renewed fear that another housing crisis is on the horizon because home values are inching closer and closer to their so-called “bubble-era prices.” However, this line of thinking is flawed for a number of reasons, the most obvious being ... Read More »

High Home Prices Are Completely Canceling Out the Benefit of Ultra Low Mortgage Rates

High Home Prices Are Completely Canceling Out the Benefit of Ultra Low Mortgage Rates
May 2, 2016 No Comments »

It’s no secret mortgage rates have been on sale for a while now…the problem is homes aren’t anymore. Instead, they’re hitting new all-time highs in many regions of the country, and inching closer to their previous highs in plenty of ... Read More »

Home Sellers Seeing Biggest Price Gains Since 2007

Home Sellers Seeing Biggest Price Gains Since 2007
April 21, 2016 No Comments »

Should we worry? Home sellers are hitting it out of the park, a potentially ominous sign we’ve gotten a little too house happy again, this according to a new report from RealtyTrac. The company’s data revealed that U.S. home sellers ... Read More »

Should You Buy a Home Where the FHA Loan Share Is High?

Should You Buy a Home Where the FHA Loan Share Is High?
April 20, 2016 No Comments »

Another one of those wonky Federal Reserve papers was released last week, which made the claim that government-backed mortgage insurance promoted a faster recovery post Great Recession. I had to read it about four times to understand it, that’s a ... Read More »