Mortgage News

The latest industry news, digested.

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 »

Bernie Sanders Wants Every Homeowner to Get the Mortgage Interest Deduction

Bernie Sanders Wants Every Homeowner to Get the Mortgage Interest Deduction
April 20, 2016 No Comments »

It’s that time of the year again, when presidential hopefuls lay out their plans to save America and get the nation back on its feet. While a lot of it is just noise, I do enjoy reading about the candidates’ ... Read More »

LendingHome Declares Itself the Largest Mortgage Marketplace Lender

LendingHome Declares Itself the Largest Mortgage Marketplace Lender
April 13, 2016 No Comments »

LendingHome, a marketplace lender that claims it’s “the best way for borrowers to get a mortgage,” announced this week that it funded more than $550 million in mortgage loans during 2015. That represents a 600% increase from 2014 as marketplace ... Read More »

Trulia Chief Economist: May Be Reaching Housing Plateau, Not a Bubble

Trulia Chief Economist: May Be Reaching Housing Plateau, Not a Bubble
March 24, 2016 No Comments »

What Does a Plateau Look Like? With home prices showing no signs of letup, housing bubble fears continue to fester. The fact that we were talking about a potential bubble a couple years ago, before home prices notched even more ... Read More »

Fannie and Freddie Principal Reduction Modification Program Coming Soon!

Fannie and Freddie Principal Reduction Modification Program Coming Soon!
March 22, 2016 No Comments »

33,000 Lucky Borrowers May Get Their Mortgage Balances Reduced Well, it took a lot longer than anticipated, but Fannie Mae and Freddie Mac have finally unveiled the so-called “Principal Reduction Modification” program for underwater homeowners still struggling to make monthly ... Read More »

Now You Can Trade Your House In for a New One Like a Car Lease

Now You Can Trade Your House In for a New One Like a Car Lease
March 21, 2016 No Comments »

How It Once Was Back in the 1980s, I vividly remember a day when my father took me along with him to a real estate agent’s office. He was looking to buy a new home and this was how the ... Read More »