According to Zillow, 5.9 million borrowers still owe more on their mortgages than their homes are worth. Despite rising home prices in the past few years in addition to being 5 years removed from when the housing recovery began – the negative equity rate in the U.S. is falling. It is now at 12%, down … Continue reading Almost 6 Million Borrowers Are Still Underwater


At their current pace, mortgage loan applications are anticipated too reach $2 trillion this year. That’s the first time in more than four years it’s happened, according to the recently published Freddie Mac Outlook report. The Freddie Mac reports cites near-record low interest rates with fueling an increase in home refinances. In addition, their forecast … Continue reading Mortgage Lending to Reach the $2 Trillion Mark in 2016


Just over a decade ago the home ownership rate was at its all-time high. Now it’s at the lowest point since 1965. During the second quarter of this year, the national home ownership rate fell to 62.9%. The housing boom in the mid-2000s saw the rate soar to 69.2%. Experts say the drop in home … Continue reading Despite Near-Record Home Ownership Lows It’s Still a Good Time to Buy


If you’re like most Americans, you make certain sacrifices to ensure you’re able to stay where you’re living now – no matter what changes may take place in your life. Whether you’re renting or paying on a mortgage, making the monthly payment is the top priority when it comes to paying bills. According to a … Continue reading How Important is it to Stay in Your Home?


Time To Buy

Fueled in part by low interest rates, existing home sales reached 5.45 million units in April, exceeding projections of 5.4 million units. The gain suggests the U.S. economy continues to improve during the second quarter of this year. According to the National Association of Realtors (NAR), existing home sales increased 1.7% to an annual rate … Continue reading It’s Still a Good time to Buy


HMDA

As is the case with most government forms, when you’re asked to complete a mortgage loan application there are questions about your race, ethnicity, gender and age. Have you ever stopped to wonder who wants to know that information and why it’s so important? Let’s answer those two questions and maybe others, too. The Equal … Continue reading I Want a Mortgage Loan… Why is my Race, Gender and Age Important?


Home prices

With home prices rising throughout the nation, one of the bright spots so far in 2016 has been low interest rates. The median sales price of a house in 27 major metropolitan areas in the U. S. is $222,700. Let’s take a look at what it takes to be able to afford a home selling … Continue reading Home Prices and Income Levels


January

Not surprisingly, mortgage activity dropped substantially over the recent holidays. However, it was just temporary. According to the Mortgage Bankers Association application volume increased by 21.3% last week compared to the previous week. Mortgage applications were up and down during the month of December as some borrowers in the first half of the month tried … Continue reading Loan Applications Make a Comeback in January


As 2015 ends, it’s time to look into the proverbial crystal ball and see what’s in store for the market in 2016. Economic growth is expected to continue, as should gains in employment. When that occurs, it should mean Americans will have more money to buy their first home or upgrade to a newer one. … Continue reading 5 Real Estate Trends to Watch For in 2016


Recent reports show that mortgages made for the purchase of residential real estate are being granted to borrowers with high credit scores. In fact, industry experts say the scores are among the highest in recent history. And because credit is favoring a smaller segment of the borrowing public, the end result is high loan performance. … Continue reading Homebuyers Reaching Record–High Credit Scores


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