Currently In The News

CPI report is good news for mortgage rates

Shelter inflation is cooling and the 10-year yield looks like it peaked last year

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May 12, 2023

Survey Finds Current Market Conditions Are Not a Huge Deterrent for Buyers

According to Bank of America’s new 2023 Homebuyer Insights Report, many hopeful homebuyers – especially those in their 40s and younger – are forging ahead with plans to buy homes despite believing the market favors sellers.

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May 10, 2023

It’s time for a coherent policy on mortgage pricing

Housing policy has been thrust into the center of the culture wars.

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May 8, 2023

Uncle Sam Targets Pay-to-Play

Bad actors reported by financial institutions seeking level playing field

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May 1, 2023

DataDigest: Correcting the LLPA false claims

There’s a lot of false claims to dispel, but make no mistake – updates to the GSEs’ pricing framework are a tough pill to swallow for the mortgage industry

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April 26, 2023

FHFA Director Thompson speaks out to correct LLPA misinformation

“Higher-credit-score borrowers are not being charged more so that lower-credit-score borrowers can pay less,” Thompson says

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April 26, 2023

No, there aren’t more cash buyers in real estate these days

The number of applications for conventional purchase loans was down nearly 40% in mid-April from the same time last year, according to the Mortgage Bankers Association.

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April 25, 2023

5.5% may be a magic number for mortgage rates

Home buyers have proved to be mortgage rate sensitive, with home sales over the past year tanking as rates have surged, and improving during periods when rates have ticked down.

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April 21, 2023

Millennials became homeowners later than their parents and grandparents. Here’s why.

Millennials are now a homeowner-majority generation — a milestone achieved amid a global pandemic and an unsteady housing market.

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April 13, 2023

Early-Stage Homebuying Demand Hits Highest Level Since May

For independent mortgage bankers who survive the ongoing culling, the new normal unfolding looks much brighter, industry experts say

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April 3, 2023

Early-Stage Homebuying Demand Hits Highest Level Since May

Redfin says its Homebuyer Demand Index jumped to its highest level since last May.

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April 3, 2023

Opinion: Stop speaking mortgage to your clients

Learn to speak your client’s language.

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March 20, 2023

Remodeling ROI Not Always Great

Bathrooms are receiving a lot of attention from homeowners who are staying put rather than braving a housing market beset by high prices and climbing mortgage rates.

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March 17, 2023

Mortgage rates drop in wake of bank failures

Mortgage rates dropped this week in the wake of several bank failures, reversing course after rising half a percentage point over the past month.

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March 16, 2023

What LOs need to know about using ChatGPT

To put it in layman’s terms: ChatGPT is a free online tool you can use to generate writing.

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March 15, 2023

FHFA delays implementation of LLPA DTI fees

Sandra Thompson sets new deadline of Aug. 1 but says post-purchase price adjustments won’t affect any loans originated in 2023.

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March 15, 2023

The uptick in housing activity will be temporary: Fannie Mae

Fannie Mae expects a modest recession starting in Q2 2023

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February 21, 2023

Smaller nonbanks facing “come to Jesus moment” as MSR values dip

FHFA issues advisory mandating third-party valuations of MSR assets

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February 14, 2023

Opinion: New LLPA changes represent noble effort, but wrong approach

There are other ways to help first time homebuyers and minority buyers without violating the principles of risk based pricing

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February 6, 2023

MBA urges removal of DTI-based LLPA

Monthly income, debt payments often change during the loan process and will be difficult to provide an accurate rate to borrowers: MBA

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February 6, 2023

Are We in a Housing Recession?

A housing recession occurs when there is a slowdown in market activity; it’s usually characterized by a decline in housing starts and home sales and an increase in sales contract cancellations, among other factors.

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January 23, 2023

Some BIG Changes to Mortgage Costs Were Just Announced

In a single moment, the fees for a vast majority of new mortgages in the US have changed. In some cases, the changes are drastic, both for better and worse.

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January 19, 2023

Rocket CEO says housing isn’t a buyer’s or a seller’s market. Now it’s even

The buyer has a little bit more power or control on their side.

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January 13, 2023

Mortgage rates have peaked along with inflation

The CPI data cooled even though shelter inflation is lagging.

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January 12, 2023

When Will Housing Prices Drop?

Home prices are down month-over-month but still up year-over-year annually. Here’s what you should know about home prices and the other ways they can change.

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January 12, 2023

Here’s what to expect in the housing market this year

Last year was a wild ride in the US housing market. Mortgage rates doubled and sales plummeted, triggering the longest month-to-month slump on record.

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January 7, 2023

Mortgage rate watchers are closely tracking the labor market

With inflation growth rate falling slowly, employment data is now “very key” for 2023.

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January 7, 2023

Mortgage interest rates expected to drop in 2023

After home financing costs nearly doubled in 2022, some relief is in sight for potential homebuyers in 2023.

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January 7, 2023

Logan Mohtashami’s 2023 housing market forecast

Housing went into a recession in June and mortgage volume fell off a cliff. So where does all that drama leave us for 2023?

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December 23, 2022

Have we found the bottom in existing home sales?

Today’s data show a big collapse in demand, but forward-looking application data has gotten better.

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December 23, 2022

Here’s How Many Homeowners Could Be Stuck With ‘Underwater’ Mortgages in 2023

Some recent buyers may find themselves in the predicament of being underwater on their mortgages.

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December 20, 2022

The Worst Is Over for Mortgage Rates Despite Another Fed Hike

The Federal Reserve raised interest rates this week, but that doesn’t mean mortgage rates are going up.

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December 14, 2022

Dave Stevens on understanding this housing market

5 things loan originators need to remember

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December 6, 2022

The housing market downturn is different this time

Low delinquency rates and healthy household net worth point to faster recovery

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November 30, 2022

Economists: Inflation May Have Peaked

CPI slipped to 7.7% in October, the smallest YOY increase since January.

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November 15, 2022

Home equity line of credit and home equity loans

Homeowners are sitting on an estimated $20 trillion worth of home equity, boosting the demand for home equity lines of credit and home equity loans.

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November 15, 2022

Housing market will lead us into a recession, and will lead us out

Mortgage rates won’t move much higher than they are now, economist says

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November 4, 2022

Is the US headed toward a housing crash?

Sharply rising mortgage rates, a steep decline in home sales and a record price slowdown have raised concerns that the housing market could crash.

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November 1, 2022

Zillow: Homes Still Lingering On The Market

Zillow says that since homes are staying on the market longer, sellers need to appease to potential buyers.

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November 1, 2022

What the midterm elections mean for the housing market

A new report by Cowen lays out the implications of the November midterms for the housing market.

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November 1, 2022

Will millennials ever be able to buy a house?

Will millennials ever be able to buy a house?

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October 18, 2022

3 charts showing that we’re not repeating the housing bubble

Mortgage rates have surged to their highest level since October 2008.

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September 27, 2022

Home-buying Strategies in a Changing Market

Despite current challenges, the right tools can enable buyers to land a property.

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September 14, 2022

Homebuyers Might as Well Take the Plunge

Affordability isn’t going to get any better as shrinking inventories ensure prices will rise even if mortgage rates eventually fall.

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September 14, 2022

The Overcapacity That Still Needs To Be Cut

How many mortgage industry layoffs need to happen to balance out falling origination volume?

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September 6, 2022

Housing Economists: Mortgage-rate Volatility

Some housing economists aren’t expecting another big surge in mortgage rates now or in the coming months.

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August 4, 2022

Condo Buying Challenges

Real estate agents, condo associations and mortgage brokers say the new rules from Fannie Mae and Freddie Mac are having a chilling effect on the market.

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July 20, 2022

Interactive Rate Chart

Interactive historical chart showing the 30 year fixed rate mortgage average in the United States.

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June 17, 2022

Why FHFA and GSEs should revisit their pricing framework

Recent pricing changes to high-balance loans and second homes deserve reconsideration.

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June 3, 2022

Proposed VA appraisal law looks to even the playing field

The piece of legislation would allow for desktop appraisals, and in some circumstances, wave appraisals all together.

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June 3, 2022

Future of Condo Lending

Watch the video in the link below to learn more about the future of condo financing from Fannie Mae.

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May 25, 2022

Qualifying with Medical Collections Just Became Easier

Debts that are paid off after they go to collections will be removed, instead of staying on credit reports for up to seven years, Equifax, Experian and TransUnion announced.

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March 21, 2022

What Home Prices Will Look Like In 2023

Heading into 2022, there was a broad consensus in the real estate industry that home price growth would decelerate significantly this year. But just over two months into the new year, some of those same firms are walking back their 2022 forecasts. Zillow was forecasting that home price growth—which was up 18.8% between December 2020 and December 2021—would decelerate to 11% growth this year. Then last month, Zillow revised that rate up to 17.3%.

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March 9, 2022

The True Cost of Homeownership

For many Americans, homeownership conjures thoughts of comfort and financial security.

But that optimism can evaporate if a first-time home buyer isn’t prepared for unexpected costs. Among the 1,000 homeowners we surveyed, 52% admit the true cost of owning a home surprised them

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February 25, 2022

How The 10-Year U.S. Treasury Note Impacts Mortgage Rates

Historically, the 10-year U.S. Treasury yield has been considered a key benchmark for mortgage rates. However, mortgage rates are not actually based on the 10-year U.S. Treasury note (as is commonly believed).

Fixed mortgage rates and Treasury yields generally move together. Why? As a fixed-rate asset, mortgage-backed securities (MBS) are in direct competition with Treasury instruments for investor money.

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February 17, 2022

40% Of Americans Are Considering A Move In 2022

Plenty of Americans are expected to move in 2022, seeking more space to accommodate their new remote working lifestyle. Nearly half of these on-the-go consumers hope to realize their homeownership dreams, according to the latest LendingTree survey. Over 50% of them say they need a Fido-friendly house, while a little less than half require outdoor space to call their own.

LendingTree surveyed 2,100 U.S. consumers to ask about potential relocation plans, refinancing and renovation aspirations for 2022. The key takeaway from the survey was about 40% of Americans are considering a move in 2022.

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February 9, 2022

Fixed Mortgage Rates Hit 20-Month High

What a difference a year makes. One year ago this week, the 30-year fixed mortgage rate sank to its lowest level in history. This week, fixed mortgage rates followed long-term bond yields and rose to their highest levels in 20 months.

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January 6, 2022

Lender Letter

This Lender Letter provides information about changes to loan-level price adjustments (LLPAs) that will apply to second home and high-balance loans.

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January 6, 2022

Human Lenders Are More Valuable Than Ever

The Mortgage Bankers Association (MBA) estimates that lenders helped home buyers with $1.6 trillion of loans in 2021.

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January 5, 2022