Renting

Refinancing just got more expensive, thanks to this new fee

A new fee will be added to conventional mortgage refinances on September 1. Will this mean higher refinance rates? For some, it’s likely.

Mortgage Rates Almost Back to Early January Levels

Mortgage rates made more progress today, but only after some drama in the morning. The bond market started the day in weaker territory and many mortgage lenders were offering higher rates as a result. As the day progressed, bonds improved and lenders adjusted their offerings accordingly. By the afternoon, the average lender was in better territory than yesterday. The improvement is the latest in a string of slow, steady gains for the mortgage market. While the average lender is not yet quite back to the super low territory from early January, many are as close as they’ve been since the January 6th rate spike following the Georgia senate election. Top tier purchase rates for conventional 30yr fixed loans are in the 2.5 to 2.75 neighborhood while top tier no-cash-out refis are about an eighth

Construction Surges to Highest Levels in 15 Years

Posted To: MND NewsWire

Residential construction finished out 2020 much more strongly than analysts had expected. The U.S. Census Bureau and Department of Housing and Urban Development reported significant increases in both residential permitting and housing starts in December , the second month in a row those numbers have grown. The numbers, however, took a hit in the Northeast. Permits for privately funded construction were issued at a seasonally adjusted annual rate of 1,709,000 units, an increase of 4.5 percent from the revised (from 1,639,000 units) rate of 1,635,000 in November. The pace of permitting in December was 17.3 percent higher than the 1,437,000 units estimated a year earlier. Econoday and Trading Economics had reported low expectations for December permits on the part of their analysts. The consensus…(read more)

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Upsizing: The Hottest New Housing Trend You’ve Probably Never Heard Of

Downsizing? That’s so 2016. Housing trends indicate a move toward bigger, not tinier, homes, and many Americans are grappling with more space than they need.

Current Mortgage Rates for January 19th, 2021 : Rate lowers for common 30-year term – Bankrate.com

Current Mortgage Rates for January 19th, 2021 : Rate lowers for common 30-year term  Bankrate.com

Current VA Refinance Rates

Posted on: January 21, 2021 Mortgage interest rates remain at historic lows this week. As reported from a weekly survey of 100+ lenders by Freddie Mac, the average mortgage interest decreased for all three main loan types — 30-year fixed (2.79% to 2.77%), 15-year fixed (2.23% to 2.21%), and 5/1 ARM increased (3.12% to 2.8%). … [Read more…]

An Alternative to Paying Mortgage Points

If and when you take out a mortgage, you’ll be faced with an important choice. To pay or not pay mortgage points. In short, those who pay points should hypothetically secure a lower interest rate than those who do not pay points, all else being equal. That’s because mortgage points, at least the ones that [&hellip

The post An Alternative to Paying Mortgage Points first appeared on The Truth About Mortgage.

Current Mortgage Rates are Flat to Start the Week

It’s a quiet start to the week with mortgage rates holding steady. That could be a trend that persists for the remainder of the week as there’s really not much scheduled on the economic calendar this week. Thursday and Friday are the only days where we really have some inflation data out that could impact… View Article

Housing starts rose to fastest pace since 2006 in December

Home construction starts rose for a fourth-straight month in December to the best pace since late 2006 as builders responded to the robust demand for single-family housing.