Why Are Mortgage Rate Spreads So High Right Now?
If you haven’t heard, the 30-year fixed has once again surpassed 7%, at least by some accounts. After settling in around 6.5% in early May,… Read More »Why Are Mortgage Rate Spreads So High Right Now?
Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.
I’ve been covering the mortgage industry since 2006, at a time when scores of banks and lenders were closing their doors after some very big boom years.
In fact, you can see my ongoing list of mortgage layoffs and closures if you’re curious just how many companies didn’t survive that period.
Fortunately, the climate has improved considerably since then, despite a big uptick in mortgage rates lately.
This too has led to companies merging or folding entirely, though this time around due to a lack of volume as opposed to an increase in loan defaults.
I strive to write compelling mortgage news stories, whether it’s the top lenders for a given year, a novel mortgage product, new loan limits, or a big policy change.
You can see all my latest mortgage news posts below.
Movement Mortgage Launches Zero Down FHA Loan
As housing affordability wanes, mortgage lenders have gotten increasingly creative to help borrowers qualify. The latest innovative product is “Movement Boost,” a zero-down FHA loan… Read More »Movement Mortgage Launches Zero Down FHA Loan
Rocket Mortgage ONE+: The Latest 1% Down Home Loan Program
Rocket Mortgage is the latest company to offer a 1% down payment mortgage to address ongoing affordability concerns. The new program, coined “ONE+,” offers a… Read More »Rocket Mortgage ONE+: The Latest 1% Down Home Loan Program
Top Mortgage Lenders in 2022: Rocket Squeaks Past UWM for #1 Spot
Last year, Rocket Mortgage was the top mortgage lender in the nation, per the latest HMDA data. While that wasn’t a big surprise, as they’ve… Read More »Top Mortgage Lenders in 2022: Rocket Squeaks Past UWM for #1 Spot
27 States Oppose New Fannie/Freddie Mortgage Fees That Appear to Punish High FICO Score Borrowers
Those new mortgage fees you’ve probably heard about are causing quite a stir. So much so that Pennsylvania State Treasurer Stacy Garrity sent a letter… Read More »27 States Oppose New Fannie/Freddie Mortgage Fees That Appear to Punish High FICO Score Borrowers
Nearly Half of Home Loan Applicants Paid Mortgage Points in 2022
A new analysis from Zillow revealed that nearly half of mortgage applicants opted to pay points when taking out a home loan last year. These… Read More »Nearly Half of Home Loan Applicants Paid Mortgage Points in 2022
Fannie Mae Is Predicting Much Lower Mortgage Rates by Year End
In its latest housing forecast, Fannie Mae has become much more optimistic with regard to mortgage rates. We’re talking 30-year fixed rates nearly 0.75% lower… Read More »Fannie Mae Is Predicting Much Lower Mortgage Rates by Year End
Home Prices Just Experienced the Biggest Annual Decline Since 2012
March was a rough month for home prices. The median U.S. home price fell a sizable 3.3% in March to $400,528, the largest year-over-year decrease… Read More »Home Prices Just Experienced the Biggest Annual Decline Since 2012
We Need 5.5% Mortgage Rates (or Lower) to Attract Home Buyers
A new survey from John Burns Research & Consulting found that 5.5% is the “magic mortgage rate.” By magic, they mean the threshold for a… Read More »We Need 5.5% Mortgage Rates (or Lower) to Attract Home Buyers
Nation’s Top Mortgage Lender Launches a 1% Down Payment Home Loan
The nation’s leading mortgage lender, United Wholesale Mortgage, has re-launched the 1% down payment home loan. It comes at a time when housing affordability continues… Read More »Nation’s Top Mortgage Lender Launches a 1% Down Payment Home Loan