Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.Veterans Can Now Get Rates as Low as 2.25% on a 30-Year Fixed Mortgage
It seems mortgage rates keep moving lower and lower, and now some veterans and active duty military might be able to snag a 30-year fixed as low as 2.25%! That’s pretty unheard of. While it sounds too good to be ... Read More »
Mortgage Rates Should Be Lower, Here’s Why They Aren’t
You’re probably pretty stoked about the record low mortgage rates currently available with most banks and lenders nationwide. What’s not to like about an interest rate at or below 3% that is fixed for the next 30 years? While that’s ... Read More »
The 30-Year Fixed Just Hit a New Record Low, What Should You Do?
Another week, another record low for mortgage rates. It’s all becoming rather humdrum at this point. Really, how excited can you get about a record that repeatedly gets broken with relative ease in a short span of time? The other ... Read More »
Quicken Loans IPO: Top Mortgage Lender Reportedly Going Public
Some very big news in the mortgage world – Quicken Loans is reportedly going public, with an IPO currently being worked on by Credit Suisse, Goldman Sachs, JPMorgan, and Morgan Stanley. It’s now confirmed. Quicken has officially filed its IPO, ... Read More »
Home Equity Could Prevent Flood of Forbearance-Related Foreclosures
The latest Mortgage Monitor report from Black Knight reveals that many homeowners in forbearance plans are sitting on a healthy amount of home equity, meaning if they’re forced to sell banks may not lose out. Per the data analytics company, ... Read More »
FHA Will Insure Mortgages in Forbearance, With a Catch
The Federal Housing Administration (FHA) finally announced a new policy, which is temporary, to endorse mortgages where the borrower has requested or obtained COVID-19 forbearance. Mortgagee Letter 2020-16 temporarily reverses the FHA’s existing policy that doesn’t permit FHA insurance for ... Read More »
Have Home Prices Finally Hit a Ceiling?
While rising property values have continued to defy expectations, could it be the end for home price appreciation after nearly a decade of gains? There’s been talk of frothy home prices for years now, with affordability stretched even as mortgage ... Read More »
46% of Homeowners in Forbearance Plans Still Made Their Mortgage Payments
Another interesting trend has emerged from the latest mortgage forbearance data, this time courtesy of a new report from data analytics company Black Knight. Nearly 5 Million Now in Mortgage Forbearance Plans 4.75 million borrowers in active forbearance plans (9% ... Read More »
Only 5% of Homeowners Who Got Approved for Mortgage Forbearance Needed It
Just five percent of homeowners who recently got approved for mortgage forbearance actually needed it, according to a shocking survey from home loan comparison company LendingTree. The company said 70% of those in forbearance plans could have made mortgage payments, ... Read More »
Despite COVID-19, You Can Still Get a Jumbo Home Loan
While lots of lenders have recently cut back on offerings that aren’t backed explicitly by the government, some are rolling out new loan programs to help homeowners get the financing they need. We’ve already seen non-QM lending basically dry up ... Read More »
