2024 FHA Loan Limits Rise to $498,257
The Federal Housing Administration (FHA) announced new loan limits for 2024 this week, bumping up the “floor” on FHA loans to $498,257. This represents a… Read More »2024 FHA Loan Limits Rise to $498,257
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.
2024 Conforming Loan Limit Climbs to $766,550
Another year, another increase in the conforming loan limit, thanks to continued home price gains. The FHFA announced today that the new limit for loans… Read More »2024 Conforming Loan Limit Climbs to $766,550
Foreclosures Halted for VA Loan Holders Until June 2024 (Extended to December 31st)
In an effort to keep more veterans and servicemembers in their homes, the VA has paused foreclosures for the next six months. The move was… Read More »Foreclosures Halted for VA Loan Holders Until June 2024 (Extended to December 31st)
Guaranteed Rate Launches Lock It, List It: Real Estate Agents Can Secure a Discounted Mortgage Rate for the Buyer Before They List
A new program called “Lock It, List It” allows real estate agents to secure a mortgage rate for a buyer before the property even hits… Read More »Guaranteed Rate Launches Lock It, List It: Real Estate Agents Can Secure a Discounted Mortgage Rate for the Buyer Before They List
Down Payments on Houses Rise to Highest Levels in Over 20 Years
Gone are the days of the zero-down mortgage. At least for the typical home buyer. Instead, the 2023 Profile of Home Buyers and Sellers from… Read More »Down Payments on Houses Rise to Highest Levels in Over 20 Years
CEO of Nation’s #1 Mortgage Lender Expects Mortgage Rates to Be Lower Before the Election
Mortgage rates finally caught a break last week after steadily rising throughout much of 2023. The 30-year fixed fell about a half a percentage point… Read More »CEO of Nation’s #1 Mortgage Lender Expects Mortgage Rates to Be Lower Before the Election
Lender Will Split the Difference If You Give Up Your 3% Mortgage Rate
You’ve probably heard of the mortgage rate lock-in effect, where homeowners are unwilling (or unable) to give up their ultra-low mortgage rates. Also known as… Read More »Lender Will Split the Difference If You Give Up Your 3% Mortgage Rate
Use of VantageScore May Boost Annual Mortgage Volume by $1 Trillion
How does an additional $1 trillion in annual home loan origination volume sound? At the moment, it sounds incredible if you’re in the mortgage industry… Read More »Use of VantageScore May Boost Annual Mortgage Volume by $1 Trillion
8% Mortgage Rates Look Imminent, But Could That Be Their Peak?
On a day when mortgage rates are officially close to hitting 8%, I decided to write a post about why they might be a lot… Read More »8% Mortgage Rates Look Imminent, But Could That Be Their Peak?
Now You Can Use ADU Income to Qualify for an FHA Loan
The U.S. Department of Housing and Urban Development (HUD) announced today that lenders will now be able to count income from ADUs when underwriting FHA… Read More »Now You Can Use ADU Income to Qualify for an FHA Loan