Mortgage News

The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.

2021 Mortgage Rate Predictions: Mostly Flat But More Record Lows Possible

2021 Mortgage Rate Predictions: Mostly Flat But More Record Lows Possible
December 14, 2020 No Comments »

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

Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance
December 10, 2020 No Comments »

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%

United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%
December 3, 2020 No Comments »

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

2021 Conforming Loan Limit Rises to $548,250
November 30, 2020 No Comments »

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

It’s Taking a Really Long Time to Get a Mortgage Right Now
November 23, 2020 No Comments »

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 »

National Association of Realtors Says Home Prices Are Rising Too Fast

National Association of Realtors Says Home Prices Are Rising Too Fast
November 16, 2020 No Comments »

It’s good to be a homeowner these days. After all, home prices are rising at an incredible pace, and have been for nearly a decade now since bottoming out. On top of that, many of today’s homeowners hold fixed-rate mortgages ... Read More »

Value of U.S. Housing Market Hits Another All-Time High

Value of U.S. Housing Market Hits Another All-Time High
October 29, 2020 No Comments »

In the second quarter of 2020, the U.S. housing market hit an all-time high of $32.8 trillion, per The Federal Reserve’s Flow of Funds Report, as referenced in the latest Monthly Chartbook from the Urban Institute. That was up from ... Read More »

Record Home Purchase Activity Expected in 2021 Despite Higher Mortgage Rates

Record Home Purchase Activity Expected in 2021 Despite Higher Mortgage Rates
October 26, 2020 No Comments »

While mortgage rates are projected to be slightly higher next year, home purchase activity should hit a new record high, per the latest forecast from the Mortgage Bankers Association (MBA). The group said it expects purchase loan origination volume to ... Read More »

Will Mortgage Rates Go Up or Down If Trump/Biden Wins the Election?

Will Mortgage Rates Go Up or Down If Trump/Biden Wins the Election?
October 14, 2020 No Comments »

As everyone knows, we have a very important U.S. presidential election just around the corner. In fact, it’s now less than three weeks away. It could be the biggest in U.S. history, at least in terms of drama and friction, ... Read More »

Costco Mortgage Review: What Don’t They Do?

Costco Mortgage Review: What Don’t They Do?
October 10, 2020 3 Comments »

Costco, the well-known mega wholesaler that runs a chain of membership warehouses internationally, rolled out it’s so-called “Mortgage Services” back in 2011. Now known as “The Mortgage Program,” their lending partners have funded nearly 200,000 mortgages worth more than $51 ... Read More »