Mortgage News

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

Study: Open Houses Result in Faster, More Expensive Home Sales

Study: Open Houses Result in Faster, More Expensive Home Sales
April 25, 2019 No Comments »

Aside from tracking mud through your beautiful home, it turns out open houses actually lead to higher sales prices and less time on market, per a new analysis from Redfin. The real estate brokerage, which studied 2018 for-sale listings, noted ... Read More »

Zillow Home Loans Is Now Live

Zillow Home Loans Is Now Live
April 10, 2019 No Comments »

Following the announcement made last summer to acquire Mortgage Lenders of America, “Zillow Home Loans” is now officially open for business. The new division of Zillow, which is 300 employees strong and operating out of Overland, Kansas, complements the company’s ... Read More »

Chase Launches Free Biweekly Mortgage Payment Option

Chase Launches Free Biweekly Mortgage Payment Option
January 22, 2019 No Comments »

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

2019 FHA Loan Limits Rise: Floor Climbs Above $300k
December 17, 2018 No Comments »

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

2019 Conforming Loan Limit Will Be $484,350 for Mortgages Backed by Fannie and Freddie
November 27, 2018 No Comments »

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

The Cash Out Refi Share Is Above 80%, But There’s a Catch
November 27, 2018 No Comments »

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

Wells Fargo the Top Mortgage Lender in 2017, Quicken Tops for Number of Loans
October 30, 2018 No Comments »

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

See How Home Purchasing Power Is Eroding Thanks to Higher Rates and Prices
October 24, 2018 No Comments »

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

Purchase Mortgages Expected to Increase Next Year Despite Higher Interest Rates, Pessimism
October 16, 2018 No Comments »

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

Allow Me to Introduce You to the 5% Mortgage Rate
October 3, 2018 1 Comment »

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 »