Refinance

Mortgage Rates vs. Presidential Inaugurations: Is There a Correlation?

Let’s get political – just kidding. Let’s talk about data that involves presidential elections and mortgage rates, more specifically, what happens to rates during an election year and the subsequent year to find out if there are any trends that pop out. I went ahead and scoured Freddie Mac’s 30-year fixed-rate mortgage data, which dates [&hellip

The post Mortgage Rates vs. Presidential Inaugurations: Is There a Correlation? first appeared on The Truth About Mortgage.

There Will Be a 3-Month Waiting Period to Get a Mortgage After Forbearance

We’ve finally got some clarity regarding what happens after mortgage forbearance in terms of obtaining a subsequent home loan. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, announced temporary guidance regarding the matter today. Waiting Period After Mortgage Forbearance for Fannie and Freddie No wait to buy a home or [&hellip

The post There Will Be a 3-Month Waiting Period to Get a Mortgage After Forbearance first appeared on The Truth About Mortgage.

Will Mortgage Rates Go Up or Down If Trump/Biden Wins the Election?

As everyone knows, we have a very important U.S. presidential election just around the corner. In fact, it’s now less than three weeks away. It could be the biggest in U.S. history, at least in terms of drama and friction, and possibly an unknown or disputed outcome come November 3rd. Unfortunately, not everyone takes the [&hellip

The post Will Mortgage Rates Go Up or Down If Trump/Biden Wins the Election? first appeared on The Truth About Mortgage.

Why Joe Biden and Kamala Harris Haven’t Paid Off Their Mortgages

You’d think presumably wealthy politicians like Joe Biden and Kamala Harris would own their homes free and clear. But that’s not the case, per their 2019 tax returns. Both individuals disclosed their returns on the JoeBiden.com website, and each paid tens of thousands of dollars in mortgage interest last year. But why would they pay [&hellip

The post Why Joe Biden and Kamala Harris Haven’t Paid Off Their Mortgages first appeared on The Truth About Mortgage.

People on the move: Feb. 26

Homepoint Financial creates chief diversity and inclusion officer position, PennyMac appoints CEO to two chairman roles and more of the latest hiring and promotion announcements in the mortgage industry.

Mortgage and refinance rates today, Feb. 27, and rate forecast for next week

Today’s mortgage and refinance rates  Average mortgage rates fell a little or held steady yesterday (Friday). Unfortunately, it was the only glimmer of light in a gloomy week that saw […]

New Home Sales on the Rise 4.3% in January

Posted To: MND NewsWire

New home sales continued the turnaround, started in December, that ended three straight months of slowing sales. The U.S. Census Bureau and Department of Housing and Urban Development said newly constructed homes were sold in January at a seasonally adjusted annual rate of 923,000 units. This is an increase of 4.3 percent compared to the upwardly revised (from 842,000) rate of 885,000 in December and 19.3 percent above the estimate of 774,000 units in January 2020. Analysts polled by Econoday had projected sales to be flat compared to the December estimate, in a range of 809,000 to 905,000 units. Their consensus was 855,000 annualized sales. Robert Dietz, chief economist for the National Association of Home Builders, said “Housing affordability headwinds are rising for 2021, due to supply-side…(read more)

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FHFA announces further extension of COVID-related mortgage relief

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.