Refinancing Share Retreats in June and FICO Scores Drop
The market share of purchase loans increased to 51% in June from 47% in the prior month as demand for refinancings weakened.
August 9, 2021 1 MIN
The market share of purchase loans increased to 51% in June from 47% in the prior month as demand for refinancings weakened.
Homebuyers applying for a mortgage may find the credit score their loan officer sees isn’t the one they thought they had.
Mortgage rates are falling because of "uncertainty" caused by a resurgence of the pandemic, Freddie Mac's chief economist said.
An inventory shortage and high standards for mortgages will keep the U.S. from a repeat of the housing bust that occurred in 2008, Wells Fargo economists said.
The Federal Reserve on Monday announced guidelines for a $10 billion program aimed at keeping people with non-traditional mortgages in their homes.
Home prices are surging as low mortgage rates allow borrowers to get bigger mortgages, making it possible to bid higher on properties in a market where listings are scarce.
New-home sales fell 6.6% in June, the third consecutive decline, as the lack of properties remained a hurdle for house-shoppers who sought to take advantage of low mortgage rates.
Homeowners with mortgages backed by the departments of Housing and Urban Development, Agriculture or Veterans Affairs could get their monthly payments reduced under new guidelines aimed at avoiding foreclosures.
Sales of existing homes rose 1.4% and prices surged in June as an uptick in listings helped buyers find properties.
Mortgage rates dropped this week to the lowest level in five months as bond market investors worried a pandemic resurgence could slow the economy.
A homebuyer would need $48,435 of annual income to qualify for a mortgage on a $180,000 median-priced home in Detroit, making it the most affordable U.S. metro area.
Don't wait until you find your dream house to check your credit reports for errors.
Flood insurance is separate from your standard homeowner’s insurance, and if you are buying in a flood plain, most lenders
Shelling out more upfront means you'll get a lower rate and a smaller mortgage payment, but is it the right course for everyone?
