Live Rate Quotes
Real Estate Chart of the Day
Welcome to my blog. I'm glad you're here. Get notified by email when I write something new on The Mortgage Reports. Click here for free email alerts or subscribe to the RSS feed in your browser.
Buying a foreclosed home? Spring 2012 may be your best chance yet. A combination of aggressive legislation and low mortgage rates have left today's market ripe for value.
Last quarter, 1 in 4 conforming mortgage applicants ditched their 30-year mortgage for a 15-year fixed. There are good reasons why, too.
A program to dispose of large blocks of REO could help clearing out home inventory which, in turn, would benefit the U.S. economy as a whole.
How FHA mortgage insurance works, and how to cancel your monthly MIP requirement. Depending on your loan type, the rules for FHA MIP cancellation vary.
U.S. homeowners have lost an estimated $7 trillion in home equity since 2007. That's the equivalent of 28 million homes losing $250k each!
New data proves what REALTORS® have known for months. The housing market bottomed September 2011. It's since made slow, steady growth.
In 2011, 17% of refinanced mortgages featured “other length” loans, according to the MBA. The majority were 15-year fixed and 30-year fixed.
Want to know where the housing market is headed? Talk to the guys on the street. No one knows housing like homebuilders and builders say 2012 will be blowout.
If the housing's recovery will be closely tied to jobs, then 2012 purchase market is about to heat up.
The viability and future of PACE -- an energy improvement-related mortgage program -- is in jeopardy.
The Home Affordable Refinance Program (HARP) is revamped and extended. There are no LTV requirements and fewer loan fees. It's a complete refinance overhaul.
Mortgage rates are down more than 1% in the last year and mortgage payments are down 13%. The "break-even point" on today's mortgages comes relatively quickly -- even after accounting for closing costs.
The $25 billion mortgage settlement deal is expected to flood the housing market with low-cost properties, which would cause a near-time decline in home prices.
Homeowners that let lenders collect and pay their real estate taxes and insurance bills tend to get lower rates and lower fees. Here's how escrows work, and how you can use them to your advantage.
For the mortgage industry, the $25 billion servicing settlement clears up uncertainty, but no one predicts an end to the troubles and legal fees.
Banks have started to offer more than $35,000 in cash to delinquent homeowners so that they can sell their properties for less than they owe.
In a huge win for FHA homeowners, the FHA will exclude Streamline Refinances from its "Compare Ratios". In response, expect banks to open the FHA Streamline Refinance floodgates. You'll get a "true" FHA underwrite going forward -- no verification of income, job or credit required.
Fannie Mae has been given the authority to proceed with a short sale or complete a deed in lieu of foreclosure by five mortgage insurers, without needing to secure their approval.
With Freddie Mac's published mortgage rates now sub-4 percent, homeowners are doing what it takes to refinance into today's low mortgage rates -- even if it means bringing some cash to closing.
The FHA has many programs to offer lenders and borrowers, but many lawmakers and industry professionals are unsure if the FHA is up to yet another challenge of this scale.
