Mortgage News
The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.UWM’s Exact Rate Lets Borrowers Choose Exact Mortgage Rates
The mortgage industry can be a little bit old school. Similar to how the stock market used to operate in sixteenths, and later eighths, mortgage rates are mostly offered in eighths. Before 2001, the stock market only allowed price movements ... Read More »
Homeowners in Forbearance Plans Have Lower Credit Scores, Higher DTI Ratios
The latest weekly Forbearance and Call Volume Survey from the Mortgage Bankers Association (MBA) revealed that 7.80% of outstanding home loans were in forbearance. That number was up slightly from 7.74% a week earlier, putting roughly 3.9 million homeowners in ... Read More »
Knock Home Swap: Buy, Sell, a Get a Mortgage with Just One Company
One of the trickiest aspects of homeownership is unloading an existing property while acquiring a replacement. Aside from being stressful, it can also be difficult it not impossible thanks to financing constraints and unwanted contingencies, which a home seller likely ... Read More »
A Look Inside the Books of Rocket Companies, Inc.
Thanks to a newly released SEC Form S-1 associated with their upcoming initial public offering (IPO), we now know a lot more about closely held Quicken Loans, aka Rocket Mortgage, aka “Rocket Companies, Inc.” The company, which bills itself as ... Read More »
Now Home Prices Are Expected to Fall By 2021 Thanks to COVID-19
While the housing market has been coming up roses lately, even in the face of COVID-19, it might turn out to be a short-lived affair as widespread unemployment takes hold. A new report from CoreLogic today revealed that despite a ... Read More »
The Top 25 Mortgage Lenders of 2019
If you’re curious which mortgage lender closed the most home loans in 2019, I’ve got your answer. You probably already guessed it was Detroit, Michigan-based Quicken Loans, which also led on total dollar amount in recent quarters. But if you ... Read More »
Record Number of Home Buyers Searching Outside Their Own City as Properties Fly Off the Shelf
After some uncertain months while COVID-19 first emerged, home buying has become hot again. Super-hot. In fact, homes are being scooped up at the fastest pace in more than two years, per Zillow. Homes Are Going Pending Fast Homes went ... Read More »
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 »
