Wednesday, 08 April, 2020

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Category: The Mortgage Reports


Mortgage lenders don’t want rates to keep falling Mortgage rates should be much lower. Probably in the 2’s. But in many cases, banks and end investors won’t let rates drop much further. Lenders are already experiencing expensive “lock fallout.” That’s when borrowers bail on their locked loan applications to seek lower rates elsewhere. And investing groups aren’t exactly excited about Read more…


A streamline refinance lets you take advantage of low rates, fast With mortgage rates pushing 50-year lows, many homeowners are moving to refinance. And they want to do it fast, before rates rise again.  The best way to do that is with a streamline refinance.  If you qualify for one, a streamline refinance program lets you refi into today’s rates Read more…


Overview Rocket Mortgage is owned by parent company Quicken Loans. Together, the two lenders are the nation’s largest mortgage company. They’re also — as Quicken points out on its site — the biggest lenders for FHA and VA loans. Both Rocket Mortgage rates and Quicken rates tend to be a little above the industry average. However, it’s hard to beat Read more…


Mortgage rates hit their second-lowest in 48 years On Monday (February 24, 2020), the average 30-year mortgage rate clocked in at 3.34%. That’s the second-lowest 30-year rate in history. (Or at least, since Freddie Mac started recording mortgage rates in 1972.) Lowest 30-Year Rates on File Month Recorded 3.31% November 2012 3.34% February 2020 3.41% July 2016 Source: Freddie Mac Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates just inched lower yesterday, as we predicted. But, for some, the rates they’re now being offered are the best seen since 2012. And that was when all-time lows were seen. Why didn’t they fall further yesterday? Read on to find out. First thing this morning, markets were acting in ways Read more…


Can I lower my mortgage payment without refinancing? So, you’re stuck with a high monthly mortgage payment. But you’d rather not refinance and pay thousands in closing costs. How can you lower your monthly mortgage payment without refinancing? One option may be a mortgage recast. Recasting lets you reduce your monthly bill, and usually only costs a few hundred dollars Read more…


Easiest vs. toughest homebuying markets Want to buy a home but aren’t looking for an uphill battle? You should probably head to Florida. According to new data, the Sunshine State is home to three of the easiest homebuying markets in the country.  Verify your new rate (Feb 25th, 2020) Homebuying is easy in Florida A new analysis from Realtor.com looks Read more…


Compare the best home improvement loans for 2020 Home renovations can be spendy. The good news is, you don’t have to produce the cash out of pocket.  There are a number of home improvement loans that let you finance the cost of your upgrades.  For example, there are specialized home improvement loans like the FHA 203(k) mortgage.  And there are Read more…


Compare the best home improvement loans for 2020 Home renovations can be spendy. The good news is, you don’t have to produce the cash out of pocket.  There are a number of home improvement loans that let you finance the cost of your upgrades.  For example, there are specialized home improvement loans like the FHA 203(k) mortgage.  And there are Read more…


Mortgage rates forecast for March 2020 March should be another stellar month for mortgage rates. Rates hit a 3-year low in February and are holding to similar levels. There have been few better times to lock in a mortgage. A $300,000 home loan now costs $250 per month less than it did in late 2018, according to Freddie Mac data. Read more…


Forecast plus what’s driving mortgage rates today Average mortgage rates rose modestly yesterday, as we predicted. But it’s not time to panic yet. Those rates are still a shade lower than they were last Friday. And they’re still ultralow in the wider context. Markets this morning remain subdued, making big movements in mortgage rates unlikely. And, first thing, they were Read more…


What is a lender? What is a lender? Put simply, a lender is a person or party who loans out money. In many cases, it’s a bank, credit union, or corporate entity, but sometimes, it may be an individual, a group of individuals, or an investor.  Lenders can come into play in many situations. You might need one if you Read more…


Top-searched home features Want to spark a bidding war when you list your home? Adding a man-cave or she-shed may be able to help. According to new research, these and other alternative living spaces are some of the most-searched home features among homebuyers today. Verify your new rate (Feb 20th, 2020) What buyers want According to new research from Realtor.com Read more…


What to know before buying a house from your parent(s) You’re looking to buy a home. Or your parents are eager to sell theirs. Maybe both things are true. In any event, buying a house from your parents can be a smart strategy. The home buying process is often simpler and less expensive with loved ones involved. The tricky part? Read more…


Forecast plus what’s driving mortgage rates today Markets were closed yesterday for Presidents Day. Last Friday, average mortgage rates held steady, which wasn’t a bad outcome. True, they were modestly higher than they were at the start of the week. But they were still in ultralow territory and within striking distance of three-year lows. First thing this morning, investors were Read more…