Mortgage News

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

Mortgage Lenders Now Providing Payment Relief Due to Coronavirus

Mortgage Lenders Now Providing Payment Relief Due to Coronavirus
March 19, 2020 2 Comments »

CARES Act permits 6-12 month forbearance for mortgage payments on federally-backed home loans HUD has announced a foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages for the next 60 days Fannie Mae has suspended foreclosure sales and ... Read More »

RedfinNow Temporarily Halts Offers as Housing Market Takes Turn for the Worse

RedfinNow Temporarily Halts Offers as Housing Market Takes Turn for the Worse
March 18, 2020 No Comments »

We’re now getting our first indication of how the coronavirus may affect the once booming housing market, thanks to a blog post from Redfin boss Glenn Kelman. It’s not good news, as indicated by the title of this post. RedfinNow ... Read More »

No, You Aren’t Getting a 0% Mortgage Rate

No, You Aren’t Getting a 0% Mortgage Rate
March 16, 2020 No Comments »

At least not yet… As you probably know, the Fed slashed the federal funds rate to near-zero yesterday afternoon to prop up the economy as it contends with the growing coronavirus pandemic. If you read the headlines, you might falsely ... Read More »

The Federal Reserve Has Swooped In to Save Mortgage Rates

The Federal Reserve Has Swooped In to Save Mortgage Rates
March 15, 2020 No Comments »

In light of the ongoing coronavirus outbreak, which were the Federal Reserve’s very own words, the Committee took bold action to lower the target range for the federal funds rate to 0% to 0.25%. That’s a full percentage point lower ... Read More »

So Much for the Record Low Mortgage Rates

So Much for the Record Low Mortgage Rates
March 11, 2020 No Comments »

What Happened to Mortgage Rates? They hit a record low of around 3% last week Then quickly reversed course over the past two days Now 30-year fixed mortgage rates are pricing closer to 3.5% Because lenders are too busy to ... Read More »

Quicken Loans CEO Doesn’t See the 30-Year Fixed Falling Below 3%

Quicken Loans CEO Doesn’t See the 30-Year Fixed Falling Below 3%
March 6, 2020 No Comments »

Call him a party pooper, but the CEO of top retail mortgage lender Quicken Loans doesn’t expect mortgage rates to decline any further from their new all-time lows. If anything, Jay Farner believes they will rise over the next few ... Read More »

Just How Popular Has iBuying Become?

Just How Popular Has iBuying Become?
March 2, 2020 No Comments »

In 2019, one out of every 100 homes were purchased by an iBuyer, short for instant buyer, per a new report from real estate brokerage Redfin. While it doesn’t sound like iBuying is catching on, consider the fact that the ... Read More »

LemonBrew Launches Real Estate Agent Match and Rebate

LemonBrew Launches Real Estate Agent Match and Rebate
February 26, 2020 No Comments »

A new tech company called LemonBrew has launched its so-called “custom matching platform” to link up home buyers (and sellers) with local, expert real estate agents. The team behind the operation consists of “experienced entrepreneurs and operators” who work in ... Read More »

The Next Big Thing in Mortgage Is Keeping in Touch

The Next Big Thing in Mortgage Is Keeping in Touch
February 25, 2020 No Comments »

I wrote a while back that more than half of consumers switched mortgage companies when obtaining a subsequent home loan. The message was pretty clear – there’s not much loyalty in the mortgage business. Ultimately, it’s hard to be loyal ... Read More »

Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows

Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows
February 24, 2020 No Comments »

Mortgage rates can be pretty volatile. Just like stocks, they can change daily depending on what’s happening in the economy. Beyond that, mortgage rates can move based on news that doesn’t involve a report on the economic calendar, such as ... Read More »