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There Are Two Ways to Look at Todayâs Higher Mortgage Rates: One Good, One Bad
Mortgage rates have been all the rage this year, with new record lows met with equally unprecedented upsurges. Itâs been a rough ride for many of those in the business, along with homeowners looking to refinance or purchase a new property. But there are two ways of looking at todayâs higher rates, and itâs not [&hellip
The post There Are Two Ways to Look at Todayâs Higher Mortgage Rates: One Good, One Bad first appeared on The Truth About Mortgage.
Donât Take Out a Mortgage to Buy Super Bowl Tickets
I came across a new partnership between ticket marketplace Stubhub and fintech company Affirm that lets you pay for purchases over time. They launched the new payment option âjust in time for the Super Bowl,â per a company press release regarding the announcement. Affirm already works with brands you probably recognize, such as that ubiquitous [&hellip
The post Donât Take Out a Mortgage to Buy Super Bowl Tickets first appeared on The Truth About Mortgage.
First Sign of Mortgage Rate Impact as New Home Sales Disappoint
Thereâs been a lot of speculation lately about the impact higher mortgage rates might have on the housing market, with some arguing that theyâll simply slow purchases, while another claimed theyâll lead to smaller home purchases. Regardless, we now have our first clue, thanks to the release of the Commerce Departmentâs new home sales report [&hellip
The post First Sign of Mortgage Rate Impact as New Home Sales Disappoint first appeared on The Truth About Mortgage.
Mortgage Delinquencies Have Fallen to the Lowest Level on Record
What a difference a decade makes, at least when it comes to paying the mortgage on time. A new report from Black Knight revealed that mortgage delinquencies fell more than 5% in January to reach their lowest point since 2000, which appears to be as far back as the data goes. Overall, the U.S. home [&hellip
The post Mortgage Delinquencies Have Fallen to the Lowest Level on Record first appeared on The Truth About Mortgage.
The Fed Non-Taper Doesnât Really Save Homeowners That Much Money
Itâs been about two weeks since the Fed decided to keep its mortgage purchases going strong, an initiative implemented to keep downward pressure on interest rates. So how meaningful has the decision to keep things unchanged been for mortgage rates? Well, all else being equal, before the non-taper event took place on September 18th, 30-year [&hellip
The post The Fed Non-Taper Doesnât Really Save Homeowners That Much Money first appeared on The Truth About Mortgage.
Clear Capitalâs New OwnerInsight Tool Lets Homeowners Fill in Appraisal Gaps
As reported earlier this week, some important pieces of the home loan process have been disrupted by the ongoing and seemingly intensifying coronavirus epidemic. One issue has been home appraisals, which are required for most mortgages and often require a human being to enter the subject property to take photos and inspect the condition of [&hellip
The post Clear Capitalâs New OwnerInsight Tool Lets Homeowners Fill in Appraisal Gaps first appeared on The Truth About Mortgage.
21 Things That Can Drive Your Mortgage Rate Higher
Wondering why you didnât receive the low mortgage rate you saw advertised on TV? Well, there are a ton of reasons why the quote you obtained was higher. Letâs explore a lot of them. 1. Low credit score This is a biggie. Most lenders assume (for the sake of their super low advertised rates) that [&hellip
The post 21 Things That Can Drive Your Mortgage Rate Higher first appeared on The Truth About Mortgage.
Streamlined Mortgage Relief Program Could Mean No Payments for 12 Months
A group of mortgage industry heavyweights have sent a letter to the Federal Reserve, HUD, FHFA, CFPB, Treasury Department, and the White House advocating for a uniform, streamlined mortgage relief program in the wake of the coronavirus outbreak. It could result in waived mortgage payments for up to 12 months for millions of Americans, without [&hellip
The post Streamlined Mortgage Relief Program Could Mean No Payments for 12 Months first appeared on The Truth About Mortgage.
Zillow: Credit Score Single Most Important Factor for Mortgage Rates
This morning, Zillow, the company behind the love it or hate it Zestimate, released a new study that analyzed the impact credit scores have on mortgage rates and corresponding payments. The company used data from 13 million loan quotes and 225,000+ purchase loan requests on the Zillow Mortgage Marketplace. Zillow Studied Data on 225k Purchase [&hellip
The post Zillow: Credit Score Single Most Important Factor for Mortgage Rates first appeared on The Truth About Mortgage.