Renting

2021 Conforming loan limits range from $548K to over $1 million

Conforming loan limits for 2021 rose more than 7% across the United States. Freddie Mac and Fannie Mae loans now go up to $548K in most counties.

Existing Home Sales Reach Highest Levels Since 2006

Posted To: MND NewsWire

Existing home sales resumed an upward trajectory in December. After drifting lower by 2.5 percent in November, breaking a five-month streak of gains , the National Association of Realtors® (NAR) said sales in the last month of the year rose 0.7 percent. Sales of single-family homes, townhomes, condominiums, and co-ops, were at a seasonally adjusted annual rate of 6.76 million during the month, compared to 6.69 million units in November. This represented a 22.2 percent increase over the 5.53 million unit rate a year earlier. The numbers were above the 6.40 million to 6.62 million range of forecasts by analysts polled by Econoday. Their consensus was for an annual rate of 6.55 million units. Single-family home sales were also 0.7 percent higher than the previous month at an annual rate of…(read more)

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Today’s mortgage and refinance rates: January 24, 2021 | Rates rise – Business Insider

Today’s mortgage and refinance rates: January 24, 2021 | Rates rise  Business Insider

Mortgage Correspondent Lending and Loan Production

In an effort to offer more loan products and remain competitive in today’s expanded marketplace both the bank and mortgage brokers participate in correspondent or wholesale lending programs. Correspondent and wholesale lenders refer to the banks and mortgage brokers that sell them loans by……..

Mortgage Impounds vs. Paying Taxes and Insurance Yourself

If you’ve been researching mortgages, or are in the process of taking out a home loan, you’ve probably come across the term “impounds” or “escrows.” When you hear these seemingly scary words, the loan officer or mortgage broker is referring to an impound account, also known as an escrow account. You may even be told [&hellip

The post Mortgage Impounds vs. Paying Taxes and Insurance Yourself first appeared on The Truth About Mortgage.

Getting a mortgage without your spouse: What are the benefits and drawbacks?

Thinking about buying a house or refinancing with only one spouse on the mortgage? Here are the major benefits and drawbacks to consider.

FHA loan limits increase for single-family and multifamily loans

Current FHA loan limits for every U.S. county. Check your local FHA loan limit for 1-unit, 2-unit, 3-unit, and 4-unit homes. Limits start at $350K.

MBS Day Ahead: Bonds Should Give Their Next Technical Signal Any Day Now

Posted To: MBS Commentary

The nature of the pandemic has made for some very mechanical and orderly market movement. The best example of this in the bond market is the "trend channel" (parallel lines marking the highs and lows, yellow lines in today's chart) we've been following in 10yr yields since the beginning of November. Smaller scale examples include several consolidation patterns (converging lines marking highs and lows, teal lines in today's chart), just like the one that's been taking shape over the past 2 weeks. This one's a bit different than the last two. On a negative note, this consolidation pattern is occurring at much higher yields, but on a plus note , it's also resting near the top of the aforementioned trend channel. The implication is that IF we can manage to get…(read more)

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