Renting

5 Things to Know If Considering Mortgage Forbearance

If you’re a homeowner, or just became one during the pandemic, you’ve likely heard of mortgage forbearance. Not to be confused with mortgage forgiveness, it allows borrowers to suspend mortgage payments for a period of time if experiencing a hardship related to COVID-19. Eventually those missed payments need to be repaid, likely via a payment [&hellip

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Is the ‘No Taper’ Good or Bad for Mortgage Rates and the Housing Market?

Yesterday, many declared “victory” when the Fed decided not to taper its monthly purchases of mortgage-backed securities and longer-term Treasuries. Put simply, most assumed the Fed would announce some level of tapering, such as reducing their $40 billion in monthly MBS purchases by $10 billion, just to test the waters. Instead, they decided to keep [&hellip

The post Is the ‘No Taper’ Good or Bad for Mortgage Rates and the Housing Market? first appeared on The Truth About Mortgage.

Are Home Prices Going to Surge in 2020?

It’s a new year, and with that comes old questions, like will mortgage rates go up or down in 2020? And will home prices rise or fall? Well, a few months ago, you would have probably thought the answer to the home price question was a no-brainer. After so many years of seemingly unsustainable appreciation, [&hellip

The post Are Home Prices Going to Surge in 2020? first appeared on The Truth About Mortgage.

Mortgage Rate History: Check Out These Charts from the Early 1900s

Today we’ll take a brief look at some mortgage rate history to gain a little context. It’s always helpful to know what came before so you can better guess what might come after. Just about everyone knows that mortgage rates hit all-time record lows over the past year. But do you know what mortgage rates [&hellip

The post Mortgage Rate History: Check Out These Charts from the Early 1900s first appeared on The Truth About Mortgage.

HomeLight Cash Close: Make All-Cash Offers and Trade-In Your Old Home for a New One

Real estate agent matchmaker HomeLight has launched two new programs for homeowners in California that make it easier to buy and sell by leveraging the power of cash. The new initiative, known as “HomeLight’s Cash Close program,” includes HomeLight Trade-In and HomeLight Cash Offer. They can be utilized by both first-time home buyers and existing [&hellip

The post HomeLight Cash Close: Make All-Cash Offers and Trade-In Your Old Home for a New One first appeared on The Truth About Mortgage.

Prospective Buyers Are Beginning to Walk Away from Home Purchases

Over the past few years, the term “walking away” was synonymous with strategic default. In short, homeowners who were underwater on their mortgages had very little hope of turning things around. As a result, they would simply walk away from the property (and the mortgage), accepting whatever consequences came with that. Typically, a big fat [&hellip

The post Prospective Buyers Are Beginning to Walk Away from Home Purchases first appeared on The Truth About Mortgage.

2020 FHA Loan Limits Rise Five Percent from a Year Earlier

Another year, another increase in FHA loan limits, thanks to yet another rise in home prices. This is good news if you’re thinking about taking out an FHA loan, as you’ll likely be able to borrow a little bit more without going over the maximum loan amount allowed. Like Fannie Mae and Freddie Mac, the [&hellip

The post 2020 FHA Loan Limits Rise Five Percent from a Year Earlier first appeared on The Truth About Mortgage.

Refinance Share of Mortgage Market Will Slip to 40% in 2014

The once unstoppable refinance market is expected to cool considerably next year, according to the latest quarterly refinance report released by Freddie Mac this morning. The mortgage financier expects rising interest rates to put a damper on home refinance activity, which experienced a major boom from 2009 to 2013, thanks in large part to Fed [&hellip

The post Refinance Share of Mortgage Market Will Slip to 40% in 2014 first appeared on The Truth About Mortgage.

More Than a Quarter of Millennial Homeowners Want to Go Back to Renting

I guess homeownership isn’t for everyone, at least if you consider a new study from LendingTree. When respondents were asked if they would “ever go back to renting,” some 28% of Millennials said yes. Even worse, 10% said they’d go back to renting this year, while 14% said they’d ditch the mortgage for rent in [&hellip

The post More Than a Quarter of Millennial Homeowners Want to Go Back to Renting first appeared on The Truth About Mortgage.