Housing Wire

OCTOBER 21, 2020

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. The chart below shows interest rates for the 30-year fixed-rate mortgage will end this year at about 3% and could hit around 3.3%

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Housing Wire

AUGUST 22, 2022

July was another rough month for homebuilders, with mortgage applications for new home purchases dropping 16.1% from a year ago, according to the latest Mortgage Bankers Association ‘s builder application survey. On an unadjusted basis, the MBA estimated that there were 50,000 new home sales in July 2022, a decrease of 10.7%

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Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. this week, Fannie Mae Chief Economist Doug Duncan believes that mortgage rates will stay elevated before the Fed makes further rate cuts. “We’ve Kim: Spreads in the mortgage space are wide.

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Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. for 30-year fixed-rate loans.

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Housing Wire

JULY 26, 2021

Zillow Economist Matthew Speakman said demand for new homes should remain hot, as home shoppers continue to favor new construction as an alternative to the “ultra-competitive” resale sector. By product type, conventional loans were 74.4% That pace for the Northeast, specifically, is down 27.9% from June 2020.

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Housing Wire

MAY 31, 2022

Mortgage lenders and real estate investment firms this month entered tight housing markets in the Midwest and the Northwest to better reach prospective homebuyers, despite a challenging mortgage market. The expansion comes amid a surge in mortgage rates and declining loan origination volume.

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Housing Wire

FEBRUARY 1, 2023

Rob Nunziata , co-CEO and co-founder of Florida-based FBC Mortgage , says one mortgage sweetener that holds out some promise for making houses more affordable for a broader swath of borrowers is the temporary rate buydown. “It Nobody was doing buydowns in 2020 and 2021 [when 30-year fixed mortgage rates were in the 3% range].

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Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory.

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Realtor.com

JANUARY 11, 2023

Getty Images Many first-time homebuyers might presume they’re better off going used rather than new—in other words, purchasing a pre-existing property rather than pricey new construction. “Simply put, total homeownership costs are more than a monthly mortgage payment alone.” Getty Images. Getty Images.

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RIS Media

SEPTEMBER 21, 2021

Mortgage applications for new-home purchases decreased 17% compared to last year, according to the Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2021. By product type: – Conventional Loans: 75.1% of loan applications. – FHA Loans: 13.8%.

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Realty Biz

JULY 20, 2022

The Federal Housing Administration regulates and backs the FHA Loans program. These government-insured loans allow home buyers low down payments of just 3.5%. Though, you will need to pay private mortgage insurance with down payments of less than 20%, increasing your monthly outgoings. Fannie Mae and Freddie Mac.

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Realtor.com

NOVEMBER 28, 2022

Getty Images With mortgage interest rates near 7% and home prices hovering at a national median of $425,000, many homebuyers might be wondering how they’ll be able to pay for a property, and searching for ways to reduce costs. Here’s everything you need to know about USDA loans, and whether they’re right for you.

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HomeLight

AUGUST 31, 2021

In addition to 12 years of experience as a real estate agent, Forney has personal experience using a 203(k) loan to purchase and fix up his first home. What’s a 203(k) loan? Many mortgage lenders will not finance the purchase of a home that needs significant repairs. Who is eligible for a 203(k) loan?

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HomeLight

SEPTEMBER 1, 2022

Raymer says that for her clients, especially first-time buyers, she suggests an FHA loan, which only requires 3.5% FHA is really one of the best options,” she advises. The loan is repaid as a 0% interest second mortgage, which is deferred until the homeowner either sells, refinances, or no longer occupies the property.

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HomeLight

APRIL 14, 2023

You’ve done some math, and the monthly mortgage payments fit into your budget, but you’re wondering about coming up with enough cash for closing costs in addition to the down payment. However, this number varies greatly depending on if you purchase the house with a mortgage or cash.” Below are some typical closing costs for Michigan.

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HomeLight

AUGUST 9, 2022

The down payment on a home gets your foot in the door, and the mortgage lets you move in. It’s the first financial move you’ll make in securing your new home purchase. The size of your down payment can depend on a variety of factors, like where you’re buying, how much you have saved, and what kind of mortgage you’ll get.

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HomeLight

APRIL 14, 2023

That said, you can still expect to pay at least a few thousand dollars in standard taxes, services, and processing fees before being handed the keys to your new home. This is especially true if you intend to take out a mortgage. Others, such as origination fees and interest, are directly related to obtaining a mortgage.

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Realtor.com

NOVEMBER 9, 2022

Inflation and rising rents have cut deeply into their savings accounts, and, lately, mortgage rates have hit 20-year highs. “Sellers look at the smaller down payment as coming from a riskier buyer, with less certainty that the mortgage will be approved or close on time,” says Rob Chrane , CEO of DownPayment Resource.

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Marco Santarelli

AUGUST 3, 2024

Many first-time buyers underestimate the true cost of homeownership, overlooking the hidden expenses beyond the mortgage payment. Not Saving Enough for a Down Payment: Many assume a 20% down payment is mandatory, but with options like FHA loans, you might be able to secure a mortgage with a smaller down payment.

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Marco Santarelli

DECEMBER 12, 2024

Improved Housing Inventory: With mortgage rates potentially stabilizing and homebuilders increasing production, the housing inventory situation is gradually improving. New construction also plays a role in adding more inventory, creating a healthy market dynamic. This is a crucial element for families with school-aged children.

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Realty Biz

SEPTEMBER 23, 2023

Understanding the mortgage process, including prequalification and pre-approval, is also essential. Buyer agents can provide valuable support in various situations, such as buying a new home or purchasing a foreclosure. Understanding the Mortgage Process When purchasing a home, understanding the mortgage approval process is essential.

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Redfin

FEBRUARY 4, 2022

These qualities are what sets them apart from new construction, such as a modern craftsman home or ranch style house. But, buyers beware, owning a historic home isn’t always as easy and breezy as maintaining a newly constructed one. However, there are a few things to keep in mind as you navigate the mortgage application process.

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Redfin

AUGUST 2, 2022

When you buy a home, you’ll most likely have a mortgage – unless you purchased the home with cash. Securing a mortgage can be trickier if you’re considering buying a floating home. You’ll have to find a mortgage lender willing to issue a mortgage for a home that isn’t on a permanent foundation.

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Redfin

APRIL 21, 2023

The state has seen a significant increase in new construction, with builders developing homes in both urban and suburban areas to meet the demand for housing. Get pre-approved from a lender Before you start looking for a house in Florida, you first need to pre-approved for a mortgage.

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Housing Wire

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. First time buyers (54%) are more than twice as likely as repeat buyers (22%) to consider an FHA loan.

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Real Trends

SEPTEMBER 14, 2023

Over one-third (34%) of prospective buyers have yet to purchase a home because there are not enough homes for sale in their budget, according to a new survey from the National Association of Realtors. First time buyers (54%) are more than twice as likely as repeat buyers (22%) to consider an FHA loan.

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RIS Media

MAY 24, 2021

(TNS)—When you come across a favorable mortgage offer, you may think, “Great! ” You may be able to, but the costs associated with buying a home go beyond the mortgage payment. The down payment is the part of the home’s purchase price you pay upfront, rather than financing it through a mortgage. Closing Costs.

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Housing Wire

NOVEMBER 21, 2024

As existing-home sales dwindle due to high mortgage rates and the lock-in effect, buyers continue turning to new construction options. And Mortgage Bankers Association (MBA) data shows a shifting attitude as mortgage applications for new homes surged in October. from October 2023.

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Housing Wire

SEPTEMBER 20, 2024

In a new episode of the HousingWire Daily podcast , host Sarah Wheeler chats with Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA). He says that the industry’s problem is more about supply than demand, and he favors Harris’ policies to stimulate new construction across the U.S.

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