Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.Chase Launches Free Biweekly Mortgage Payment Option
In an effort to make life a little easier for its mortgage customers, Chase has launched a new suite of “flexible automatic payments,” including a biweekly option. If you happen to have a home loan serviced by the banking giant, ... Read More »
2019 FHA Loan Limits Rise: Floor Climbs Above $300k
Following the release of the 2019 conforming loan limit, HUD announced the 2019 FHA loan limits, which like the former will move higher next year. Similar to conforming loans, FHA loans have loan amount limits set either at the floor, ... Read More »
2019 Conforming Loan Limit Will Be $484,350 for Mortgages Backed by Fannie and Freddie
As expected, the conforming loan limit for 2019 has increased thanks to an ongoing rise in property values, according to a news bulletin released by the Federal Housing Finance Agency (FHFA) this morning. Beginning in 2019, the maximum loan amount ... Read More »
The Cash Out Refi Share Is Above 80%, But There’s a Catch
While it would appear that borrowers are using their homes as ATMs again, it’s a bit misleading. Yes, the share of home mortgage refinances that resulted in cash out rose above 80% in the third quarter, per Freddie Mac data, ... Read More »
Wells Fargo the Top Mortgage Lender in 2017, Quicken Tops for Number of Loans
Despite closing a higher number of mortgage loans last year, Quicken was unable to wrestle the coveted top spot away from Wells Fargo, per HMDA data parsed by iEmergent. During 2017, the under-fire San Francisco-based bank managed to fund $93 ... Read More »
See How Home Purchasing Power Is Eroding Thanks to Higher Rates and Prices
It’s no secret that residential real estate is expensive right now, at least relative to where it stood just a few short years ago. Home prices have moved higher and higher for about five straight years since bottoming out post-Great ... Read More »
Purchase Mortgages Expected to Increase Next Year Despite Higher Interest Rates, Pessimism
There’s been a lot of negativity regarding the housing market lately, some that I feel reflects the usual seasonal slowdown more than anything else. Yes, listing prices often fall in autumn because there are typically more homes on the market ... Read More »
Allow Me to Introduce You to the 5% Mortgage Rate
For those new to the mortgage realm, the number five might feel a little foreign. You see, for the past seven years or even longer, the popular 30-year fixed mortgage has always been in the 3-4% range. Today though, mortgage ... Read More »
Redfin Launches the Owner Estimate to Give Homeowners Control
Are you sick and tired of your Redfin Estimate or Zillow Zestimate being too low? Do you feel your property is worth much, much more than they say it is? Well, I’ve got great news for you! Redfin has introduced ... Read More »
The Largest Nonbank Home Purchase Lender in the Nation Is a Wholesaler
Everyone wants to be #1 these days. I guess that’s no different than any other days, but the battle to be on top is growing more and more contentious, especially as overall home loan volume wanes. Rather surprisingly, a nonbank ... Read More »
