Remove Brokerage Remove Fixed-rate mortgage Remove Pre-approval
article thumbnail

How the Fed’s rate hike will affect the housing market

Housing Wire

The federal funds rate doesn’t directly dictate mortgage rates, but it does steer market activity to create higher rates and reduce demand. It’s painful that on the same $300,000 mortgage, the monthly payment rose to $1,800 today from $1,265 in December. mortgage industry to fund $4.1 Labor Department.

Marketing 448
article thumbnail

The strategy behind UWM’s multibillion dollar investment

Housing Wire

But for brokers, price isn’t the only determining factor when comparing rates for the borrower. On top of competitive rates, getting approved for a mortgage has to be an easy and quick closing process for the customer, said Kevin Leibowitz, CEO of brokerage Grayton Mortgage.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

NYC Real Estate Market 2020 Overview

Marco Santarelli

Let us continue to explore the housing market trends — from pre-COVID-19 days until July. The following analysis of the NYC housing market has been prepared by Redfin.com , a national real estate brokerage. percent on a 30-year fixed-rate mortgage. NYC Real Estate Market Prices & Trends Before COVID-19.

Marketing 142
article thumbnail

What’s On Your Real Estate Mind For 2024?

Toronto Realty Blog

And excited as you may be, you simply can’t get over the fact that your 5-year, fixed rate mortgage pre-approval comes with an interest rate of 5.49%. Because your cubicle-mate at work talks about her 2.69% rate and your boss won’t shut up about being in the third year of his – wait for it – 1.49% rate.

Sales 98
article thumbnail

8 Surprising Lessons a Real Estate Editor Learned Buying Her First House

Realtor.com

Not only that, we were about to sign up for 30 years of fixed-rate mortgage payments. A friend had urged me to shop around, since mortgage lenders often match better deals from their competitors. I found an online brokerage, with no physical locations, that was offering lower rates with no points required, so I applied.

article thumbnail

Top Five: Real Estate Stories Of 2022

Toronto Realty Blog

October 19th, 2022, I wrote, “Should Tenants Be Pre Approved For Candidacy?” Instead of showing a condo, gathering supporting documents, and submitting an offer to lease, agents are sending supporting documents first , to ask if their tenants would be “approved.” That listing was terminated in December.

article thumbnail

131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

If your clients are concerned about getting approved for a loan, you can remind them that a co-borrower agrees to back the borrower in a mortgage loan. It’s kind of like a fixed-rate mortgage and an adjustable-rate mortgage had a baby. Got Clients With Interest Rate Questions? Pre-approval.