All posts by Kim Bratic

Higher Interest Rates Soften Sales

With the presidential election now having been decided, a recent rise in mortgage interest rates is starting to affect home sales. The average rate on a 30-year conventional loan reached the highest level in more than a year. What this increase means for people who can afford it is just an additional frustration, however, for … Continue reading Higher Interest Rates Soften Sales


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As financial markets still react to the results of the U.S. presidential election, the stock market rose sharply, reaching record highs late last week. As a result, mortgage interest rates rose, too. According to Zillow, the 30-year fixed rate went from an average of 3.38% to 3.8% in just a few days. Most mortgage experts … Continue reading Election Results Push Interest Rates Higher… For Now


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Despite ongoing rumors the millennial generation isn’t buying homes, new evidence in a recent report from mortgage lending software company, Ellie Mae, shows that not only are millennials buying, they’re even refinancing. While the total number is small, it’s growing. Refinances comprised 20% of all mortgage loans closed during the month of September – an … Continue reading Millennials Making a Move


A young couple purchases a new home from a real estate agent.

Avoid These Mortgage Mistakes Think you have a pretty good handle on what to do and not do when you’re thinking about getting a mortgage loan? Make sure you avoid these six pitfalls. Failing to review your credit Mortgage lending experts recommend checking your credit at AnnualCreditReport.com at least six months before you begin your … Continue reading Avoid These Mortgage Mistakes


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The Mortgage Bankers Association (MBA) recently announced projections showing the market will enjoy an 11% increase in 2017 to $1.1 trillion in mortgage originations. Conversely, the MBA says that refinances will decrease by as much as 40% to just $529 billion. The prediction of a bullish increase in 2017 is based, in part, on further … Continue reading Look for Double-Digit Mortgage Lending Growth


3 Reasons Homeowners Haven’t Refinanced

With interest rates having been at near-record lows for much of 2016, millions of homeowners wisely opted to refinance. Surprisingly, however, industry insiders say roughly 13% of eligible homeowners still haven’t refinanced their higher-rate mortgages. Let’s take a quick look at why that is the case. Creditworthiness Approximately half of the homeowners that should refinance … Continue reading 3 Reasons Homeowners Haven’t Refinanced


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Major changes are on the way for the credit reporting industry. Fannie Mae announced that it planned to release previously approved trending credit data update to its Desktop Underwriter program. The program is used by mortgage lenders throughout the United States. The program had been scheduled to be released back in June, but a number … Continue reading Fannie Mae to Release Credit Underwriting Update


Ready to Apply for a Mortgage?

If you’ve been thinking about applying for a mortgage loan either to purchase a home or refinance, there’s no time like the present. Interest rates have been at near-historic levels for months and are just starting to ease upward. Now could be the time to act. Here are a few tips to help prepare you … Continue reading Ready to Apply for a Mortgage?


The Effect of Rising Interest Rates

  Mortgage interest rates have risen slightly in the past week or so, ending several months of near-record lows. However, the jury is still out as to what effect, if any, the small increase may have on the housing industry. Some mortgage analysts say the slight uptick in the interest rates will have little overall … Continue reading The Effect of Rising Interest Rates


FHA to Help Borrowers Keep Their Homes

Borrowers who have a high LTV (loan-to-value ratio) got some good news recently as the Federal Housing Finance Agency announced its intention to extend the Home Affordable Refinance Program (HARP) into 2017. In addition, the Agency introduced a new refinance program designed to take the place of HARP when it expires. The programs are for … Continue reading FHA to Help Borrowers Keep Their Homes