An analysis of over three million rental applications by RENTCafé found an interesting trend among Gen Z renters that shows yet another way that this generation is diverging from their millennial predecessors. Where post-college millennials flocked to the nation’s biggest cities in search of jobs, Gen Z renters are increasingly moving to vibrant small towns … [Read more…]
There are still 4 business days left in the month of February and thus still 4 days for the bond market to undergo an epic recovery that helps mortgage rates come back down. But traders and market-watchers alike have pined for–if not outright expected–such a recovery several times in the past few weeks only to be disappointed . Merely avoiding additional rate spikes would be a victory at this point. Even if we can manage to avoid further rate spikes, February will still go down as the worst month for rates since January 2018 (March 2020 was worse at face value, but it’s not really a fair comparison due to the unprecedented bond market reaction to the pandemic). Some back-of-the-napkin math (OK, it’s actually more official than that) shows the average lender charging at least a quarter of
Posted To: MND NewsWire
Builders appear to be prepping for a huge spring . While the U.S. Census Bureau and the Department of Housing and Urban Development report that housing starts were down in January, typically the case in winter, housing permits were issued at what is probably a post housing crisis high. The seasonally adjusted rate of permitting during the month was at an annualized 1,881,000 units, a 10.4 percent jump from December’s rate of 1,704,000, itself a more than 4 percent monthly increase, up 22.5 percent from the 1,536,000 permits issued in January 2020. Analysts polled by Econoday didn’t come close with their estimates, which anticipated a slight monthly retreat. Predictions ranged from 1,600,000 to 1,715,000 with a consensus of a 1,670,000-permit rate. Single-family permits were estimated at 1,269…(read more)
The total number of mortgages in forbearance declined seven basis points to 5.22%, according to the latest estimate from the Mortgage Bankers Association.
The post Forbearances fall for third week in a row, to 5.22% appeared first on HousingWire.
Lenders use your DTI ratio to determine how much of a loan you qualify for. This article shows you how to calculate your DTI ratio and provides tips on how you can lower it to increase the loan amount you can get. Rate search: Check Today’s Mortgage Rates What is the Debt-To-Income Ratio? Your debt-to-income […]
The post How to Calculate Your Debt-to-Income Ratio appeared first on The Lenders Network.
Mega Capital Funding is the newest addition to the roster of companies that have resumed their non-QM operations. The firm recently launched a line-up of new products catered to non-QM borrowers, according to a Press release. The product offerings feature alternative income documentation products including three- and 12-month bank statement products, CPA and borrower-prepared P&L … [Read more…]
You may have come across one of those articles lately that talks about how a couple paid off their mortgage in five years. Or some other absurdly-fast timeline. While it also sounds super enticing and perhaps inspiring, it’s often just a feel-good story that may not actually make a lot of sense financially. At least [&hellip
The post Why Does Everyone Want Us to Pay Down Our Mortgages? first appeared on The Truth About Mortgage.
âSales could be even higher,â if more homes were put on the market, NARâs chief economist Lawrence Yun said
Posted To: MBS Commentary
No Easy Answers Today; Still Anyone's Game Bonds were weaker earlier in the trading session but rallied back mid-morning before coasting mostly sideways into the close. Bond bulls were frustrated by the inability to break the floor at 1.27-1.28% in 10yr yields. Bond bears were frustrated by the clear unwillingness to explore new highs compared to yesterday. In other words, it was an "inside day" with lower highs and higher lows, and part of a 2-day consolidation following the highest yields in 11+ months. Such consolidations can be preludes to big bounces OR renewed selling pressure. There weren't any major clues in today's session about which side is going to win. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Jobless Claims 861 vs 765 f'cast, 848k prev Import…(read more)
LegalShield’s network received fewer legal services requests regarding bankruptcy, debt collections, foreclosures and evictions in January – pushing down consumer stress and foreclosure indices. “This decreased level of requests for legal advice and support may well reverse with lower future stimulus support and a cessation of eviction moratoriums,” said LegalShield CEO Jeff Bell. Federal stimulus … [Read more…]