Mortgage

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Mortgage Rates

Almost Half of Mortgaged Homes in US Now Considered Equity-Rich

(Bloomberg) — Home ownership has reached a milestone in the US. Nearly half of mortgaged properties were considered equity-rich in the second quarter — meaning owners had at least 50% in home equity. This marked the ninth straight quarterly rise, fueled by soaring house valuations in the pandemic era and an increase in down payments […]

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Home Mortgage
Mortgage
Mortgage Rates

Mortgage Rates Fall to 5.1% in Biggest Drop Since April 2020

(Bloomberg) — US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs. The average for a 30-year loan declined to 5.10% from 5.25% last week, Freddie Mac said in a statement Thursday. That was the biggest decline since April 2020, […]

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Home Mortgage
Mortgage
Mortgage Rates

Getting a Mortgage for Non U.S. Citizens

For many foreign-born individuals living in the United States, owning a home is one of the cornerstones of the American dream. But there’s a perception among some non-U.S. citizens that there’s no way they can obtain a mortgage, thus creating a huge barrier to that goal. However, according to the National Association of Realtors (NAR), […]

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Mortgage
Mortgage Rates

Mortgage Layoff Alert & 4 Shakeout Bets – after refi apps drop 45% in last 6 months

A Bloomberg story by Carmen Arroyo today underscores the cost-cutting focus I’m increasingly hearing from mortgage lenders this month. Mortgage layoffs and cost cuts are normal as rates rise, but lenders will still fund $2.6 trillion in 2022. Here are some bullet points on which lenders will thrive vs. struggle as this plays out. – […]

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Home Mortgage
Mortgage
Mortgage Refinance
Pay Off Mortgage

How to Pay off a Mortgage in Five Years

Young female mountain climber While homeownership is called “the American Dream,” owning a home also means taking out a mortgage for most people. And you don’t truly own your home until the mortgage is paid off, so many families want to pay their mortgage off quickly. If you really set your mind to it, you […]

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Home Mortgage
Mortgage
Mortgage Rates

Mortgage Rates in U.S. Cool After Four Weeks of Increases

(Bloomberg) — Mortgage rates in the U.S. dipped for the first time in a month. The average for a 30-year loan was 3.55%, down from 3.56% the prior week, Freddie Mac said in a statement Thursday. The dip may reassure homeowners there’s still opportunity to save money by refinancing. Still, borrowing costs are expected to […]

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Homeowners
Interest Rates
Mortgage
Mortgage Rates

Rising mortgage rates squeeze both homeowners and buyers

Mortgage rates surged again this week on inflation concerns, hitting the highest point in 22 months that sent homebuyers scrambling to lock in rates. Many homeowners, on the other hand, face a shrinking opportunity to refinance. The rate on the 30-year fixed rate mortgage – the most common home loan for buyers – increased to […]

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Home Mortgage
Mortgage
Mortgage Rates
Mortgage Refinance

Mortgage Rates Surge. The Pandemic’s Ultralow Rates Are Over.

The average rate of a 30-year fixed-rate mortgage was 3.45% this week. Brandon Bell/Getty Images Mortgage rates climbed to their highest point since March 2020, according to data released Thursday. It’s the latest sign that the pandemic’s ultralow rates are a thing of the past. The average rate of a 30-year fixed-rate mortgage was 3.45% […]

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Mortgage
One Hot Stock

Mr. Cooper Group Inc. (COOP) – Buy Price: $42.50 or better

Buy Price: $42.50 or better Sell Price: TradersPro Sell Signal Mr. Cooper Group Inc. provides servicing, origination, and transaction-based services related to single-family residences in the United States. The company operates through three segments: Servicing, Originations, and Xome. The Servicing segment performs activities for underlying mortgages, including collecting and disbursing borrower payments, investor reporting, customer […]

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Home Mortgage
Mortgage
Mortgage Rates
Mortgage Refinance

Real estate shock or a big nothing? Experts debate what rising mortgage rates will mean for the 2022 housing market

Federal Reserve officials were confident through the summer that spiking prices would reverse as the economy worked through supply and demand shocks caused by the pandemic. But that “transitory” narrative has been all but abandoned this month as the latest reading of U.S. inflation hit a 39-year high. Soon after that report came out, Fed […]

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Mortgage
Mortgage Rates

U.S Mortgage Rates Slide but Avoid sub-3%

Mortgage rates hit reverse ahead of the holidays, with volatility stemming from the Omicron strain weighing. In the week ending 23rd December, 30-year fixed rates fell by 7 basis point to 3.05%. 30-year fixed rates held above the 3% mark for a 6th consecutive week in spite of the decline. Compared to this time last […]

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