What To Do If Your Mortgage Application Is Declined
Tighter lending standards mean some consumers are being turned down for mortgages for issues that can be remedied.
August 26, 2021 4 MIN
Tighter lending standards mean some consumers are being turned down for mortgages for issues that can be remedied.
A Delta-driven resurgence of the Covid-19 pandemic will chill the nation’s economic recovery and suppress mortgage rates, according to a forecast by Fannie Mae.
The average U.S. rate for a 30-year fixed mortgage rose to the highest level in a month, reversing six weeks of declines, after last week’s employment report.
The market share of purchase loans increased to 51% in June from 47% in the prior month as demand for refinancings weakened.
Mortgage rates are falling because of "uncertainty" caused by a resurgence of the pandemic, Freddie Mac's chief economist said.
The Federal Reserve on Monday announced guidelines for a $10 billion program aimed at keeping people with non-traditional mortgages in their homes.
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.
Mortgage rates dropped this week to the lowest level in five months as bond market investors worried a pandemic resurgence could slow the economy.
Mortgage rates dropped to a five-month low on Friday as mortgage investors worried about the economic impact of the pandemic’s hyper-transmissable Delta mutation.
Cybersecurity criminals are targeting borrowers with VA loans, often claiming to be from the government, the Consumer Financial Protection Bureau said.
Allowing the VA loan fees to reset as scheduled will save veterans and active-duty military members about $200 million annually, the lenders’ group said.
Shelling out more upfront means you'll get a lower rate and a smaller mortgage payment, but is it the right course for everyone?
Should you buy a house now, at whatever mortgage rate is available, and plan to refinance later?
Opting for an ARM instead of a fixed-rate mortgage can be a good strategy if a homebuyer doesn't plan to stay in the house for more than five to seven years.
