Mortgage News - Page 23

It’s a good time to be an American homeowner. Not only has home equity topped $6 trillion, but foreclosures have now dropped to 0.5 percent — their lowest point in more than a decade.

The 5 percent mortgage rate is here, and borrowers may want to re-think their mortgage options. But don't worry. There are strategies to reduce mortgages rates and interest costs.

Though the recent 0.1 percent dip in national rents may seem like a reason for optimism, it turns out things are pretty bad for today’s renters. In fact, according to new data, nearly half of all U.S. renters are cost-burdened, spending more than 30 percent of their monthly income on rent.

You can get approved for a mortgage after bankruptcy in as little as one year. But there are a lot of details to get through. Here are your FAQs about getting a mortgage after bankruptcy.

Today's Federal Reserve (FOMC) meeting ended with a .25 percent increase in interest rates, surprising no one and having little impact on markets.

The mortgage process is getting more and more digital. In fact, according to a new study, a whopping 92 percent of recent mortgage borrowers did online research before even speaking to a lender. Just 57 percent of borrowers did the same five to 10 years ago.

If buying a home is anywhere in your sights, you’ll probably want to act fast. According to a new forecast, average mortgage payments will jump nearly 10 percent by early next year.

Home equity topped $1 trillion in the U.S. last month, and American homeowners are certainly taking advantage of it. According to a new study, Home Equity Lines of Credit (HELOCs) are becoming especially popular – especially with Generation Xers and homeowners in the Midwest.

Congress just approved a partial rollback of the Dodd-Frank mortgage reform law. But the part that affect borrowers -- the collection of information to detect discrimination -- won't harm consumers who shop for mortgages online.

Rate shopping can save home buyers immensely on their mortgage loans, but apparently it doesn’t stop there. According to a new analysis from LendingTree, rate shopping in certain markets can save even more.

When it comes to buying a house, time is of the essence – at least according to Freddie Mac’s latest forecast. The GSE expects mortgage rates to jump nearly a half-percent by the end of 2019.

It looks like HELOCs are about to rise. According to a new survey, nearly half of all homeowners have a Home Equity Line of Credit on their radar, with 42 percent saying they’re somewhat, very or extremely likely to apply for one in the next 18 months.

Millennial home buyers seem to have pretty good credit. According to new home buying trends, not only are their credit scores rising, but they’re also qualifying for more conventional loans – products that are traditionally more difficult to get without stellar credit.

Good news for those who pay private mortgage insurance (PMI) premiums on their mortgage. They are still tax deductible -- for now.

Are you renting out your property on Airbnb? Soon, you might be able to count that income on your refinance application.

Want to buy a home but don’t want to deal with the time-consuming, tedious process? One new mortgage lender may have the solution for you.

Home renovations are the No. 1 reason homeowners take out HELOCS – or Home Equity Lines of Credit, but that doesn’t mean they’re popular by any means. In fact, according to a new survey, the majority of homeowners have never even heard of a HELOC – or the ways it can benefit their home and pocketbook.

If you’re looking to buy a home this year, you’ll likely want to act fast – at least that’s what an increasing number of Americans think. According to new data, the number of consumers who think now is a good time to buy is on the rise and likely won’t stay that way for long.

Inventory might be low, but that’s not stopping Millennials from upping their housing game. According to new data, Millennials are refinancing in droves month after month.