Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.The 2021 Housing Market Is Kind of Like the Toilet Paper Shortage
To say residential real estate is on fire would be a huge understatement. In fact, it’s so popular that we’re literally running out of homes. Simply put, there are too many home buyers and not enough properties for sale, nor ... Read More »
Don’t Freak Out About the Recent Mortgage Rate ‘Spike’
Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Mac’s weekly survey. Freddie Mac Chief Economist ... Read More »
15-Year Fixed Mortgage Rates Just Hit Record Lows: Should You Consider One?
While 30-year fixed mortgage rates tend to steal all the headlines, 15-year fixed mortgage rates quietly reached record lows this week as well, per Freddie Mac’s weekly survey. This morning, Freddie announced that the 30-year fixed fell to a new ... Read More »
Home Prices Are Expected to Rise Another 10% by Next November
If you’re an existing homeowner, get excited, very excited. A new forecast from Zillow says home prices are going to rise 10.3% from this November until November 2021. That’s on top of the already stellar growth realized since around 2012, ... Read More »
2021 Mortgage and Housing Market Predictions
Welp, it’ll be nice to close out 2020 and look ahead to a brand-new year that hopefully features a lot less drama and much more good news. While the housing market actually absorbed both the COVID-19 pandemic and the presidential ... Read More »
2021 Mortgage Rate Predictions: Mostly Flat But More Record Lows Possible
Yet another year is about to come to an end, and that means it’s time to look ahead to what next year has in store. I think just about everyone wants to see the back of 2020, though it wasn’t ... Read More »
Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance
The Department of Veterans Affairs (VA) has proposed a new loss mitigation method to help homeowners with VA loans in COVID-19 related forbearance get back on track. The new program, known as the COVID-19 Veterans Assistance Partial Claim Payment program, ... Read More »
United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%
The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low ... Read More »
2021 Conforming Loan Limit Rises to $548,250
Thanks to another year of stellar home price appreciation, the 2021 conforming loan limit will increase to $548,250, per the Federal Housing Finance Agency (FHFA). This is the maximum loan amount for mortgages that can be acquired by Fannie Mae ... Read More »
It’s Taking a Really Long Time to Get a Mortgage Right Now
Similar to the increased waiting times to get a COVID-19 test these days, it’s taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The ... Read More »
