Thursday, 23 January, 2020

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Tag: Mortgage News


American Financial Resources has announced that it now offers USDA renovation loans, which finance home purchases and provide buyers the opportunity to make needed repairs. The program enables eligible buyers in rural communities to combine their home loan with renovation costs in a single closing with a fixed interest rate. “USDA renovation allows borrowers the flexibility to purchase a home Read more…


Everyone is aging, right? “I finally did it! I bought a new pair of shoes with memory foam insoles. No more forgetting why I walked into the kitchen!” People change, populations change, and loan officers must adapt. economists have revised 2020 growth prospects higher and revised down recession probabilities, many economic indicators are positive: consumer spending and confidence is high, Read more…


What’s the average mortgage payment? The average mortgage payment is just over $1,500 per month, according to the U.S. Census Bureau. That might seem like a high price to pay. But believe it or not, average mortgage payments are almost equal to the cost of renting. National average rents clocked in at $1,476 in October. Even better, mortgage payments are Read more…


Forecast plus what’s driving mortgage rates today Markets were closed yesterday for the Martin Luther King Jr. holiday, and this report did not appear. Average mortgage rates nudged higher on Friday, as we predicted. Of course, the tiny rises on Thursday and that day still leave those rates very low by almost any standards. And a couple of mildly disappointing Read more…


Rents rise in 91% of cities There’s more bad news for renters. According to new data, rents rose yet again in 91% of the country’s biggest cities. At the top of the list? That’d be Phoenix, with a nearly 10% uptick in rents over the last year.  Verify your new rate (Jan 21st, 2020) The biggest rent spikes in the Read more…


Should I pay off my mortgage early? Being debt-free is a top financial goal for most Americans — and a mortgage is the biggest debt most people will ever have. With that, it makes sense to want to pay off your mortgage early. Yet many Americans are opting to keep their mortgage rather than paying it off as soon as possible. Read more…


Angel Oak Companies posted another record year in 2019, surpassing $17 billion in assets under management. The firm also completed a record six non-QM securitizations totaling approximately $3.1 billion, exceeding the 2018 volume by about $2 billion. “People want to invest with us because of our vertical integration, which allows us to control credit and grow thoughtfully,” said Sreeni Prabhu, Read more…


NerdWallet has recognized some of the leading mortgage lenders this year in its 2020 Best-Of Awards. The Bank of America and Citibank shared the title of the best mortgage lenders for first-time homebuyers. The banks made the list due to their affordable fees, online convenience, loan programs, and assistance options, as well as a variety of low-down-payment loan options that Read more…


Should I pay off my mortgage early? Being debt-free is a top financial goal for most Americans — and a mortgage is the biggest debt most people will ever have. With that, it makes sense to want to pay off your mortgage early. Yet many Americans are opting to keep their mortgage rather than paying it off as soon as possible. Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates just inched higher yesterday, as we predicted. Still, only Wednesday’s even lower level stops Thursday being the lowest average in way more than a month. And they’re still close to their three-year lows. » MORE: Check Today’s Rates from Top Lenders (January 17, 2020) Markets this morning are not looking Read more…


Foreclosure activity fell to at least a 15-year low in 2019, according to a new study. The ATTOM Data Solutions Year-End 2019 U.S. Foreclosure Market Report found that foreclosure filings – including default notices, scheduled auctions and bank repossessions – were reported on 493,066 properties last year. That’s a 21% drop from 2018 and an 83% drop from a peak Read more…


Notarize and Stewart Title have renewed their partnership that will give Stewart’s direct offices and independent agents the ability to offer fully online and hybrid closings powered by Notarize. The companies first teamed up in 2017 for their first online closing. Since then, Stewart and Notarize have completed thousands of both online and hybrid closings. Stewart said that this partnership Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates edged down again yesterday, as we predicted. That takes them close to their three-year low. Today, markets seem to be moving in ways that are mildly unfriendly to mortgage rates. This morning’s retail figures were roughly in line with expectations, which might have cheered up investors. »RELATED: January 2020 Mortgage Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates edged down again yesterday, as we predicted. That takes them close to their three-year low. Today, markets seem to be moving in ways that are mildly unfriendly to mortgage rates. This morning’s retail figures were roughly in line with expectations, which might have cheered up investors. »RELATED: January 2020 mortgage Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates edged down again yesterday, as we predicted. That takes them close to their three-year low. Today, markets seem to be moving in ways that are mildly unfriendly to mortgage rates. This morning’s retail figures were roughly in line with expectations, which might have cheered up investors. »RELATED: Mortgage Interest Rates Read more…