Mortgage mayhem: Lenders pull gov’t loans, refuse to lock, and raise credit score minimums
Falling mortgage rates might not help borrowers this time . Lenders are pulling loan programs, refusing to lock rates, and raising credit score minimums.
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Guide to Small Business Startup Loans
It takes money to make money and virtually any small business will require some startup capital to get up and running. While the personal savings of the founders is likely the most common source of startup funding, many startups also … Continue reading →
The post Guide to Small Business Startup Loans appeared first on SmartAsset Blog.
Yellen wins confirmation to become first woman as Treasury chief
Janet Yellen was confirmed by the U.S. Senate as the country’s 78th Treasury secretary and the first woman to hold the job, putting her in charge of overseeing an economy that continues to be hobbled by the coronavirus pandemic.
Mortgage and refinance rates today, January 20, 2021
Today’s mortgage and refinance rates Average mortgage rates were unchanged yesterday, as expected. So they remain exceptionally low, though a bit above the record. There may be literal fireworks over […]
Refinance soon to avoid the FHFA adverse market refinance fee
Fannie Mae and Freddie Mac’s 0.5% refinance fee is delayed until December 1. But to avoid the fee and higher refinance rates, you need to apply sooner than that.
Mortgage Rates Down Only Slightly Despite Bond Market Rally
Posted To: Mortgage Rate Watch
What’s a bond market rally and why should mortgage rates care? There are all kinds of bonds. US Treasuries would be the quintessential example, but there are also bonds specific to the mortgage market. These are what groups of loans ultimately become in order to be traded on the open market (thus allowing lenders to make more loans with less risk and lower rates). As investors buy and sell bonds throughout the day, bond prices change. The higher the price, the lower the implied interest rate. Simply put, if bonds are rallying, rates should be falling shortly thereafter. The 10yr Treasury yield is typically an excellent barometer for mortgage rate movement. 10yr Treasuries and mortgage-backed bonds tend to correlate extremely well. As such, we might expect a more significant improvement in mortgage…(read more)
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Zillow: Expect another record year for home sales
Zillow predicts 6.82 million existing home sales in 2021, the most recorded in a single calendar year since 2005 and a 21.1% increase from 2020.
The post Zillow: Expect another record year for home sales appeared first on HousingWire.
Mortgage rates hit all-time lows – The Washington Post
Mortgage rates hit all-time lows The Washington Post
Forbearances hold steady as exits slow
The U.S. forbearance rate held relatively steady last week, rising one basis point to 5.38% of servicersâ portfolio volume, according to the MBA.
The post Forbearances hold steady as exits slow appeared first on HousingWire.
How Bad Credit Can Make Your Mortgage More Expensive
Borrowers who come to the table with lower credit scores can find that their mortgage loan costs more because of their bad credit scores. Â This is true for first-time buyers as well as people buying second or third homes. A loan costs someone with a bad credit score more because of higher interest rates and… Read More
The post How Bad Credit Can Make Your Mortgage More Expensive appeared first on Credit.com.