Surging Mortgage Rates Set Off Scramble to Buy Homes

~ what are your thoughts? ~ Surging Mortgage Rates Set Off Scramble to Buy Homes U.S. homebuyers, already contending with escalating prices, now are getting hit with the most-expensive mortgage rates in seven years. Funny thing: It’s only making them move faster. The average rate for a 30-year fixed mortgage jumped to 4.61 percent, up … Continue reading Surging Mortgage Rates Set Off Scramble to Buy Homes

7 Programs That Help First-Time Home Buyers

~ know of or have used any of these? ~ 7 Programs That Help First-Time Home Buyers Programs with low down payments for first-time home buyers include FHA and VA loans and loans backed by Fannie and Freddie. Others can help you remodel or upgrade a home. At NerdWallet, we adhere to strict standards of … Continue reading 7 Programs That Help First-Time Home Buyers

First-Time Homebuyers

First-Time Homebuyers: Financial Missteps and Opportunities Single women continue to outpace single men as homebuyers in the U.S. housing market. Last year, single men only made up 8 percent of homebuyers, while single women made up a whopping 18 percent, according to the National Association of REALTORS®' (NAR) 2017 Profile of Home Buyers and Sellers. Related: … Continue reading First-Time Homebuyers

Reverse Mortgages

Why reverse mortgages are a harder sell now The millions of Americans who haven’t saved enough money for retirement still have a potential safety net: their home equity. But recent changes to reverse mortgages mean seniors and their families may have tougher decisions to make. Reverse mortgages allow people 62 and older to tap their … Continue reading Reverse Mortgages

Navigating the Mortgage Ecosystem

Navigating the Mortgage Ecosystem Editor's Note: This story was originally featured in the March issue of MReport, out now. Thirty years ago, mortgage origination was a simple process. An application was taken at the local savings and loan branch, documents were prepared within 48 hours, sent to a title company with a note to close, … Continue reading Navigating the Mortgage Ecosystem

Trigger Leads Are Hurting Borrowers

~be careful out there~ Trigger Leads Are Hurting Borrowers The National Association of Mortgage Brokers (NAMB) wrote to Congress on Wednesday seeking a ban on the sale of trigger leads for mortgages through the PROTECT Act of 2017, which was passed after a credit bureau data leak affecting more than 143 million Americans. A trigger … Continue reading Trigger Leads Are Hurting Borrowers

A Tale of Two Decades

~ I think this is a really good outline of the last 10 years, hopefully you find it helpful. Let me know if you have any questions! ~ A Tale of Two Decades   From a macroeconomic perspective, the mortgage market entering 2008 was in tatters. The collapse of the subprime and the Alt-A markets, … Continue reading A Tale of Two Decades

A Fight Over the Credit Score Lenders Use for Your Mortgage

~very interesting, what do you think?~ A Fight Over the Credit Score Lenders Use for Your Mortgage Banks and rival lenders are butting heads over the credit scores used to decide millions of mortgage requests by U.S. home buyers. Now, a federal agency is weighing whether to step into the fight, which revolves around a … Continue reading A Fight Over the Credit Score Lenders Use for Your Mortgage

LGBT and Mortgage Leaders Collaborate to Better Diversity and Inclusion

LGBT and Mortgage Leaders Collaborate to Better Diversity and Inclusion On Thursday, the American Mortgage Diversity Council is partnering with Bank of America to host an LGBT roundtable Town Hall in Dallas, Texas. The roundtable is the first of several such events planned across the country during 2018, designed to spur communication between the mortgage … Continue reading LGBT and Mortgage Leaders Collaborate to Better Diversity and Inclusion

Borrowers: Increase Your Buying Power

Borrowers: Increase Your Buying Power In an effort to empower consumers by providing additional information on how their credit profile affects their loan prospects, LendingTree.com  recently released its November Mortgage Offers Report with their Chief Economist Tendayi Kapfidze’s analysis of November’s mortgage offers. Utilizing data from actual loan terms offered to borrowers by lenders,  Kapfidze finds … Continue reading Borrowers: Increase Your Buying Power