Housing Wire

MAY 20, 2022

million in mortgage-risk coverage for the private market. The transaction, CIRT 2022-5 involved a covered loan pool of 67,700 single-family mortgages with a total unpaid principal balance of about $21 billion. The loans in the pool are fixed-rate mortgages with mostly 30-year terms and loan-to-value ratios ranging from 80.1%

Principal 448

Principal Fixed-rate mortgage Loans Mortgages 448

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. The mortgage industry is different from 14 years ago.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Before the Federal Reserve raised the federal funds rate by 0.75 Will Savage, an LO at PMC Mortgage.

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The Federal Reserve recently signaled plans to slash interest rates three times in 2024, shifting toward the next phase in its monetary policymaking. “It There’s still going to be a lag.

Mortgages 476

Mortgages Loan Officer Loans Equity 476

Housing Wire

NOVEMBER 2, 2022

And with Fed rates expected to rise even further, industry experts and economists don’t expect mortgage rates to stabilize for at least another year. Mortgage rates , which are currently near a 22-year high, declined slightly from last week ahead of the Fed’s sixth rate hike announcement.

Industrial 435

Industrial Mortgages Fixed-rate mortgage Principal 435

Housing Wire

JULY 22, 2022

The two transactions convey a combined $1 billion in mortgage credit risk to private insurers and re-insurers as part of the agency’s ongoing effort to share risk with the private sector. Through the CIRT transaction, a portion of the credit risk on mortgages backed by Fannie Mae is shifted to insurers in the private sector.

Fixed-rate mortgage 370

Fixed-rate mortgage Principal Loans Mortgages 370

Housing Wire

MAY 2, 2022

in February, which was the first month to see price growth greater than 20%, according to Black Knight ’s monthly mortgage monitor report. As measured by the share of median income required to make the principal and interest payment on the average-priced home bought with 20% down, U.S. Annual home price gains saw 19.9%

Fixed-rate mortgage 448

Fixed-rate mortgage Principal Mortgages Investor 448

Housing Wire

MARCH 20, 2023

Much as the Fed was blind to the liquidity crises created by its rapid pace of rate increases, we believe the Fed has also failed to appreciate how severely its actions have imperiled the housing market. In 2021, mortgage originations hit a record high of $4.4 Independent mortgage companies have no such luxury. trillion in 2023.

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

Housing Wire

JUNE 5, 2023

The affordability challenges homebuyers are facing are becoming more deeply entrenched, according to Black Knight ‘s most recent monthly mortgage monitor report. “In Tightening credit availability, elevated rates, inventory shortages and strengthening home prices are adding to affordability challenges, the report notes.

Fixed-rate mortgage 418

Fixed-rate mortgage Principal Mortgages Marketing 418

Housing Wire

AUGUST 11, 2022

Likewise, Atlanta-based A ngel Oak Mortgage Inc. , a real estate investment trust focused on nonqualified mortgages, or non-QM, recently announced that it was struggling with red ink — recording a net loss of $52.1 a long-term player in the non-QM mortgage market. Redwood Trust Inc. , The Angel Oak Cos.

Mortgages 397

Mortgages Residential Loans Lending 397

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. In early January, rates were as low as 3.4%.

Marketing 448

Marketing Fixed-rate mortgage Loan Officer Pre-approval 448

Housing Wire

MAY 5, 2022

billion note backed by a reference loan pool of 118,055 residential mortgages with an outstanding principal balance of $35.4 billion, according to a presale report by Kroll Bond Rating Agency (KBRA). billion secured by single-family mortgage reference loan pools valued in total at $156.9 a week earlier. a week earlier.

Principal 370

Principal Fixed-rate mortgage Loans Residential 370

Keeping Current Matters

FEBRUARY 23, 2021

We’re currently experiencing historically low mortgage rates. Over the last fifty years, the average on a Freddie Mac 30-year fixed-rate mortgage has been 7.76%. Today, that rate is 2.81%. Flocks of homebuyers have been taking advantage of these remarkably low rates over the last twelve months.

Mortgages 321

Mortgages Fixed-rate mortgage Principal Loans 321

Housing Wire

JUNE 13, 2022

Fannie Mae has executed its sixth Credit Insurance Risk Transfer (CIRT) deal of 2022, providing up to $725 million in mortgage-risk coverage as part of the agency’s ongoing effort to share risk with private-sector insurers. The covered mortgage loan pools in the six transactions include a total of some 459,000 mortgage loans valued at $139.3

Fixed-rate mortgage 397

Fixed-rate mortgage Loans Principal Mortgages 397

Housing Wire

JUNE 26, 2023

Sixteen percent of home modifications in Q1 were modifications with principal forbearance, the report said. Mortgage rates rose in March: the average interest rate on a 30-year fixed-rate mortgage increased to 6.54% from a February level of 6.26%.”

VA loan 370

VA loan FHA loan Fixed-rate mortgage Principal 370

Housing Wire

JUNE 7, 2023

High home prices and mortgage rates are continuing to constrain affordability in housing markets nationwide. The majority of consumers expect that both home prices and mortgages will either increase or remain the same over the next year. As a result, consumers’ perceptions on home buying and selling have further diverged.

Fixed-rate mortgage 370

Fixed-rate mortgage Principal Mortgages Marketing 370

Housing Wire

OCTOBER 26, 2023

David Spector, chairman and CEO, told analysts that the company had “outstanding results” even as mortgage rates neared 8% in Q3. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. billion in unpaid principal balance (UPB) as of Sept.

Fixed-rate mortgage 448

Fixed-rate mortgage Principal Banks Loans 448

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 trillion in 2021.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Keeping Current Matters

MAY 27, 2021

Renters pay a higher percentage of their income toward their rental payment than homeowners pay toward their mortgage. A mortgage payment is forced savings ; it goes toward building equity you will likely get back when you sell your home. Your mortgage payment remains relatively the same over time. Your rent keeps going up.

Fixed-rate mortgage 299

Fixed-rate mortgage Principal Mortgages Equity 299

Housing Wire

SEPTEMBER 17, 2021

Recent comments from Federal Reserve Vice Chair Richard Clarida reaffirmed the Fed’s previously stated timeline of 2023, and unless economic conditions improve drastically over the next 12 to 18 months, this would be the earliest that the Fed would consider raising the Fed funds rate.

Marketing 435

Marketing Fixed-rate mortgage Mortgages Principal 435

Housing Wire

APRIL 8, 2021

When you make a mortgage payment, part of that money goes toward the principal balance. The longer you live there and pay down the mortgage, the greater your stake in the property’s value. As a reliable partner in the mortgage process, Citi is here to help you take your first steps toward homeownership.

Fixed-rate mortgage 435

Fixed-rate mortgage Equity Principal Mortgages 435

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6 We’ll probably trade a little over $1.2

Equity 459

Equity Lending Fixed-rate mortgage Loans 459

Housing Wire

JUNE 15, 2023

The 30-year fixed-rate mortgage rates don’t move in tandem with the Fed’s benchmark rate, but instead generally track with the yield on 10-year Treasury bonds. Where mortgage rates will go will depend on how the markets react to new economic data, Melissa Cohn, regional vice president of Wlliam Raveis , said.

As-is 397

As-is Industrial Fixed-rate mortgage Mortgages 397

Keeping Current Matters

MAY 20, 2021

Census , over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. million mortgaged homes in the United States. An abundance of equity and record-low mortgage rates can make refinancing a home very easy.

Equity 313

Equity Principal Fixed-rate mortgage Loans 313

Housing Wire

AUGUST 29, 2022

In 2021, United Wholesale Mortgage (UWM) CEO Mat Ishbia set a three-year goal to make UWM the No. Ishbia, who started running his father’s mortgage firm in 2013 and has since grown it into the country’s No. 2 lender, isn’t satisfied with second place, behind Rocket Mortgage. “I 1 lender in the country.

Loan Officer 435

Loan Officer Loans Equity Mortgages 435

Realtor.com

JULY 5, 2021

Getty Images Mortgage payments that grew more expensive over time were one of the main culprits of the housing bust that led to a worldwide, financial disaster in the mid-2000s. More homebuyers are choosing adjustable-rate mortgages, which offer lower monthly payments initially, to contend with record-high home prices.

Mortgages 121

Mortgages Fixed-rate mortgage Principal Loans 121

Realtor.com

APRIL 5, 2021

Getty Images What is an interest-only mortgage? It’s a type of home loan where you start off paying only the interest for a certain time period, followed by a time where you pay back both the interest and principal. But unlike a conventional ARM, borrowers don’t build any equity in their home with an interest-only mortgage. “I

Loans 122

Loans Mortgages Principal Equity 122

Marco Santarelli

DECEMBER 20, 2024

Ever feel like you're throwing money away with your current mortgage? Many homeowners wonder about the best time to refinance mortgage. When is the Best Time to Refinance Mortgage? It's More Than Just Lower Rates Refinancing is essentially replacing your old mortgage with a new one. You're not alone! Why Refinance?

Mortgages 92

Mortgages Fixed-rate mortgage Loans Principal 92

Marco Santarelli

JANUARY 1, 2025

Mortgage rates are a hot topic for anyone looking to buy a home or refinance an existing mortgage. As of January 01, 2025, the average mortgage rate for a 30-year fixed loan is 7.01%. Refinance Rate : 7.01% for a 30-year refinance, indicating stable rates compared to purchase mortgages.

Mortgages 97

Mortgages Loans Fixed-rate mortgage Closing costs 97

Marco Santarelli

JANUARY 21, 2025

Today's mortgage rates on January 21, 2025, have witnessed a modest increase across various loan types, providing crucial insights for potential buyers and current homeowners. Specifically, the average rates for 30-year fixed, 15-year fixed, and adjustable-rate mortgages have risen.

Mortgages 98

Mortgages Fixed-rate mortgage Loans Principal 98

Realty Biz

AUGUST 12, 2023

Buying a home is a significant decision, and understanding mortgage terms can make the process smoother. Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. Principal : The amount of money you borrowed to buy the home. Over time, you'll pay down the principal and interest.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

Realty Biz

JANUARY 15, 2023

In this article, we will discuss the difference between purchase and refinance mortgages so that you can determine if you want to go for them and eliminate worrying about them from your list. What Is a Purchase Mortgage? What Is a Refinance Mortgage? Key Differences Between Purchase and Refinance Mortgages. Loan amount.

Mortgages 102

Mortgages Fixed-rate mortgage Loans Finance 102

HomeLight

NOVEMBER 20, 2023

Finding an assumable mortgage is like a dual treasure hunt. But if you succeed in your quest, you can sidestep today’s high mortgage interest rates and secure a monthly payment that could be hundreds of dollars less. There are typically fewer fees involved when you do an assumable mortgage rather than a new origination.

FHA loan 115

FHA loan Mortgages VA loan Loans 115

Marco Santarelli

DECEMBER 22, 2020

Mortgage note investing is one of the best real estate investment opportunities available but it is rarely discussed. In this article, we shall discuss the various types of mortgage notes and how to invest in them. Mortgage notes are also known as real estate lien notes and borrower’s notes.

Mortgages 122

Mortgages Purchase and sale agreement Fixed-rate mortgage Loans 122

HomeLight

NOVEMBER 6, 2023

Skyrocketing mortgage interest rates can make homeownership seem like an elusive dream. With rates hitting their highest point in almost 23 years, the path to purchasing a home has become more challenging. For some home shoppers, there’s a potential solution: assumable mortgages. Which mortgage loans are assumable?

FHA loan 111

FHA loan VA loan Mortgages Marketing 111