Posts Covering Mortgage News

Mortgage payments may jump in 2019, so buy that house now

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.

How Americans are using the HELOC to their advantage

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.

Dodd-Frank repeal: Why you don’t have to worry about it

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.

Mortgage rate shopping especially effective in these U.S. cities

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.

Buying a house? New forecast says now’s the time to act

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.

HELOCs poised to rise; tappable equity jumps for most homeowners

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.

Home buying trends: Millennials are more conventional than you might think

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.

Becoming a homeowner? Here’s how much you’ll need to make in your city

How much money for a mortgage? Owning a home in one of the nation’s largest cities doesn’t have to come with equally large costs. In fact, in some American towns, a salary of only $20K is enough to afford a mortgage. Low-cost big cities Taking into account U.S. Census data, property taxes, current interest rates, […]

Airbnb: Fannie Mae to allow home-sharing income on refinance applications

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

Mortgage lender to offer fast-tracked application process, more accurate quotes

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.

Renovations named top reason for HELOCs – but many still don’t know what HELOCs do

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.

Planning to buy a home in 2018? Most Americans think now is the time to act

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.

Millennials keep refinancing, flock to Wyoming

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.

Housing affordability still high, despite increasing home prices

Despite rising home prices, American housing is actually quite affordable. According to new data, today’s home buyers actually have “historically high levels of house-purchasing power.”

You don’t have to pay your back taxes to get a mortgage

Can you get a mortgage if you owe back taxes? Fannie Mae says you can, if you follow these tips.

Mortgage applications rise, indicate strong 2018 ahead

It looks like 2018 is going to be another good year for housing. According to new data, mortgage applications were up the first week of the year, and last month, they jumped nearly 8 percent. Does that mean more competition’s on the horizon?

The Shutdown and your government mortgage: How it will affect FHA, VA and USDA loans

The government shutdown might impact your government mortgage — VA, FHA and USDA loan programs are all backed by the government and will be affected to some degree.

More homeowners refinance as tax reform looms overhead

Homeowners are refinancing in droves. According to new data, refinances accounted for 40 percent of all closed loans in December, and on just conventional loans, the refinance share was nearly half.

2018 conforming loan limits jump by nearly $30,000 [INFOGRAPHIC]

2018 conforming loan limits are higher by nearly 7% compared to last year. How this will help applicants who were considering a jumbo loan.

2018 To Be A Breakout Year For FHA Buyers

Home buyers love the FHA loan’s mortgage rates and small downpayment requirement. This year, FHA is loosening guidelines even more to prompt homeownership.

Could the new tax plan benefit home buyers? One report says yes

It seems the recently passed tax legislation may have some hidden benefits for this year’s home buyers. According to a new report, the changes could slow home price growth by as much as 4 percent.

Mortgage search engine paves clear path to home buying

Finding the right home buying partners is now easier than ever, thanks to a brand new mortgage-specific search engine. Dubbed Vendor Surf, the tool lets buyers find companies in 75 different categories to help with their home purchase and mortgage process.

Worth the risk? Not in these 16 housing markets

If you want a low-risk home purchase, steer clear of Florida. The Sunshine State claims 10 of the nation’s 16 riskiest housing markets — markets where prices are outpacing incomes and rents are more affordable than mortgages.

Alexa, pay my mortgage: Amazon partners with Quicken for game-changing mortgage offering

Amazon Alexa users can now use their device to make payments on their Rocket Mortgage loans, among other mortgage-related tasks.

Lenders are loosening the reins; what FICO score do you need to get a mortgage?

FICOs drop for average buyer It looks like mortgage lenders are loosening their credit standards a bit. According to data from Ellie Mae, November saw the average buyer FICO score drop two points over October. FICOs also dropped on refinance loans across the board. Lower FICO score? No problem According to Ellie Mae’s November Origination […]

Fed hikes rates. What does it mean for your mortgage?

The Fed hiked rates for just the fifth time since the financial crisis. What does that mean for mortgage rates?

The Millennial home buyer gender gap: male vs. female mortgage characteristics

The mortgage experience is not completely equal for the male versus female Millennial homebuyer.

Buyers dread mortgage application, but love their lenders; what gives?

While the mortgage application is still about as much fun as a DMV appointment for most, at the end of the day, borrowers are happy with their lenders and their home loans.

Forecast predicts boost in housing inventory, sales in 2018

Housing inventory is rising in many markets. That should increase the supply of affordable homes for new buyers.

New homes in high demand; sales surge as 2018 looms

Like new It’s all about new properties with today’s home buyers. According to new data from the U.S. Department of Commerce, sales of new homes spiked in October, jumping more than 6 percent over the month. Sales up About 685,000 new homes sold in October – up from 645,000 in September. It’s the third month […]

Are home prices finally dropping? They just might be

Home prices have risen alarmingly recently, putting pressure on first-time buyers to find affordable properties. But things might be improving for those trying to buy a home this year.

Fannie Mae announces new higher loan limits for 2018

Fannie Mae and Freddie mac loan limits will go up in 2018 for most borrowers. find out about your area’s loan limit here.

Confidence in new home construction: building starts and completion up

Builders are confident and doing well, and new home construction is up. This is good news for buyers who are looking for affordable homes

Mortgage refinancing in high demand as rates fall lower

Mortgage refinancing is popular again, as interest rates fall.

Mortgage customer satisfaction: best mortgage lenders

Mortgage customer satisfaction: what do homebuyers and homeowners want, and who delivers it best?

How will Trump’s tax reform proposals affect my homeownership plans?

Tax reform is trying to make its way through Congress. If passed, what would it mean for the everyday home buyer and home owner?

Home construction comeback: Could more housing starts be on the way?

An increase in new home construction is good for today’s homebuyers.

Forget listing prices; affordable housing is historically high

Affordable housing is widely available and historically high in all but three states, according to new data.

How millennials influence the housing market

Millennials impacting the housing market According to one national housing trend report, first-time buyers make up 47 percent of all purchases. Half of those buyers are under 36 years old. It’s safe to say that (finally!) millennials comprise a large segment of homebuyers. Millennials only group “moving up” in homeownership The Zillow report indicated that […]

Rising rent crisis: Tenants struggle to keep up as costs skyrocket

Rising rents don’t just make monthly existence hard for enters. They harm the economy for many of the rest of us.

Want the small-town life? The Northeast has the best small cities

If you like amenities but crave a small town atmosphere, these best small cities deliver. And hey are mostly in the northeast,

Want to save cash? Save on closing costs and buy in Missouri

Want to save on closing costs? Try moving to a different state. Costs differ substantially by location. If that’s not possible, however, we have more tips for you at The Mortgage Reports.

Realtors optimistic about next six months in housing markets

Housing markets are coming up roses, even though summer’s over. Here’s what you need to know if you’re buying or selling today.

Buyer survey: online, mobile tools on the rise in mortgage shopping

Top tools for mortgage shopping Mortgage shopping has changed, for the better. Home buyers are using more online and mobile tools in their quest for a mortgage today. And according to a recent survey from Fannie Mae, they hope to use even more in the future. Mining for mortgage data According to the recent National Housing […]

MBA predicts 7% jump in home purchase applications for 2018

What’s the mortgage and real estate forecast for 2018? MBA says home buying will pick up, but for now, sellers are still in control.

Houston, we have affordable housing

4 U.S. cities ranked among world’s most affordable Houston, Texas has some of the most affordable housing in the world. According to Bloomberg’s recent Global City Housing Affordability Index, it’s one of just four U.S. cities to make the top 10 list. The index considers average housing cost as a percentage of monthly income. The world’s most […]

Freddie Mac survey: Mortgage rates edge down yet again

Mortgage rates fell slightly again, leaving analysts, investors and borrowers wondering when they are going to begin what most believe to be an inevitable move higher.

Moving this fall? Here are the strongest housing markets this season

The South takes the cake If you’re looking to buy a home in this fall, you might want to consider heading south. According to Ten-X’s fall 2017 Top Single-Family Housing Markets Report, that’s where the majority of the nation’s strongest markets lie. In fact, the Lone Star State alone claimed the top three spots. Texas […]

Mortgage payments: Freddie Mac feels your pain (and is doing something about it)

Making your mortgage payment just got easier — if you have a Freddie Mac loan. But this innovation is likely to become popular with all lenders.

P2P mortgage lending could be a game changer for Millennials

P2p mortgage lending is big news. Peer-to-peer lending has come to the mortgage industry.

Single women experience slower home appreciation than single men

When it comes to the appreciation value of a home, single men see a better return than single women.

Home construction spending rises: Could it impact home prices?

Building is up, but so is buyer demand. Is increased construction spending by builders enough to alleviate price increases?

Mortgage approvals get way easier for those with student loans in 2018

Fannie Mae just unveiled surprising new rules for home buyers and refinancing homeowners with student loans. Many formerly turned-down applicants will be approved this year.

No down payment? You could crowdfund it

One lender allows home buyers to use platforms like Kickstarter and GoFundMe to gather their down payment funds from backers.

In some college towns, buying a condo is more affordable than a dorm

Buying a condo in a college town can be cheaper then renting through the school. Compare school housing to the “for sale” market before you commit.

Mortgage lenders loosening credit standards, taking more risks

Mortgage lenders could afford to be picky when interest rates were low and business was booming. Today, they have to be less picky to keep business coming in. That could be good for anyone buying a home right now.

October 2017 mortgage rates forecast (FHA, VA, USDA, Conventional)

Mortgage rates are poised to move in September. Rates are low, but they may not stay that way for long. Analysis and advice.

No down payment? New startup Loftium can help

One company, Loftium, has created a new opportunity, advancing the down payment for would-be homebuyers who agree to put their new home in a rental program.

Buying a home? Act fast: Freddie Mac says rates will rise

Rates are low, but how long will they stay that way? Freddie Mac says: not very much longer.

What Hurricane Harvey means for real estate and mortgage rates

Natural disasters frequently affect real estate markets where they occur. But Hurricane Harvey’s impact could be far more wide-reaching.

September 2017 mortgage rates forecast (FHA, VA, USDA, Conventional)

Mortgage rates are poised to move in September. Rates are low, but they may not stay that way for long. Analysis and advice.

Why Are Mortgage Rates Still So Low?

The economy is heating up, and the Fed is on a firm rate-hike schedule. So why aren’t consumer mortgage rates rising? Analysis and advice.

VA Mortgage Rates Are The Lowest, So Why Aren’t More Veterans Using Them?

Veterans have access to low VA mortgage rates, but too often, they choose another loan type. Correcting myths deter eligible veterans from the benefit.

Judgments? Liens? New Guidelines May Help You Qualify For A Home Loan

New mortgage credit guidelines can help you qualify for a home loan if you have liens or judgments in your credit history.

Low Income Home Buying : 50 Cities Where You Can Buy A Home Now

Low income home buying is possible, even if you are not looking in one of the 50 most affordable markets. Qualification strategies that work in any region.

Lenders May Never Again Ask You For Pay Stubs, W-2s, Or Bank Statements

Mortgages are on their way to being 100% paper-free. Consumers are loving new processes put in place by the nation’s largest lending agencies.

Consumers: Maybe Mortgage Rates Won’t Rise After All

A recent Fannie Mae survey shows a shift in consumer attitudes about mortgage rates. Twelve months from now, say survey takers, rates could be lower.

Report: 6-In-10 Consumers Now Believe Getting A Mortgage Is Easy

The majority of consumers now think getting a mortgage isn’t that hard. That’s a marked change from just a few years ago.

You Don’t Need Sky-High Income To Buy A Home

A new report shows you don’t need a large income to buy a home. An abundance of low-income home loans and programs are making homeownership possible for a new batch of buyers.

Fast-Falling Foreclosure Rates Are Pushing Up Your Home’s Value

Falling foreclosure rates are good for the real estate market. Here’s how they affect home prices and the homebuying experience.

Mortgage Lenders Are Loosening Credit Standards Rapidly

A Federal Reserve survey shows mortgage lenders making it drastically easier to get mortgage-approved. Been denied for a mortgage in the past? It’s time to re-apply.

Six Online Tools Every Mortgage Consumer Should Use

Mortgage applicants enjoy access to more information than ever before. Use these six tools to make the best decision about your mortgage.

Brexit : Mortgage Rates Near All-Time Low After UK Vote

The bottom fell from U.S. mortgage rates after Britain voted to leave the European Union. “Brexit” is creating one of the best days for rates in history.

TILA-RESPA Integrated Disclosures (TRID) Changing The Way Homes Are Bought

The new TILA-RESPA Integrated Disclosures (TRID) is changing the way homes are financed. Will the mandatory 3-day “waiting periods” affect your closing?

Conventional Loans Dominate U.S. Mortgage Market

64% of August home loans were linked to conventional mortgage financing. Find out why, and read about FHA and VA financing, too. Get live mortgage rates.

Foreclosure Activity Drops; 2014 Foreclosures To Sell At Steep Discounts

Foreclosures sell for an average discount of 17%, but foreclosed homes are getting harder to find. Here’s where to look, and how to get the best mortgage deals.

International Real Estate Investors Should Consider Buying U.S. Real Estate In 2008 Instead Of 2012

When foreign national buyers consider investing in U.S. real estate, they often focus on projects set to deliver 2-4 years out as opposed to projects that are ready to deliver today. Considering the path of the world’s economy , this long-term investment strategy may be a bit short-sighted. For non-U.S….

What International Buyers Need To Know About Today’s Foreign National Mortgage Market

As the dollar slides against the world’s currencies, foreign national buyers are flocking to U.S. housing market for second homes and investment properties. Looking at the graph, it’s not hard to see why. Since September 2007, a European’s cost to buy a $300,000 property in the United States has fallen…

2018 Conforming, FHA, & VA Loan Limits

Mortgage loan limits for every U.S. county, as published by Fannie Mae & Freddie Mac, the Federal Housing Administration (FHA), and the Department of Veterans Affairs (VA)