SoFi â short for Social Finance, Inc. â started out doing refinances for student loan debts, but have expanded into mortgages and personal loans. And beyond lending, they now offer wealth management and life insurance. Based in Healdsburg, California, and founded in 2011, SoFi has funded more than $25 billion in loans to over 425,000 […]
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It’s time for another mortgage match-up: “Mortgage rates vs. unemployment.” When it comes to making or saving money, everyone wants to be able to predict the future. After all, if you know whatâs coming next, there are plenty of great ways to capitalize. For homeowners, good timing or a penchant for fortunetelling can result in [&hellip
The post Mortgage Rates vs. Unemployment first appeared on The Truth About Mortgage.
A new report from Black Knight revealed that prepayment activity (early payoff of a mortgage) has been surging thanks to the precipitous drop in mortgage rates. It has more than doubled in just the past four months alone, and is now at its highest level since late 2016. The biggest driver has been homeowners with [&hellip
The post Homeowners with Year-Old Mortgages Are Refinancing Like Crazy first appeared on The Truth About Mortgage.
The mortgage forbearance rate increased again last week, rising to 7.91% from 7.54% a week earlier, per the Mortgage Bankers Association (MBA). That marked the smallest weekly increase (4.91%) since the newly-created Forbearance and Call Volume Survey was launched, but itâs important to remember it was only 0.25% back in March. Additionally, the weekly gains [&hellip
The post Mortgage Forbearance Rate Up Near 8%, Housing Assistance Fund Proposed first appeared on The Truth About Mortgage.
The residential real estate market has been hot lately. But how long can that continue? Here’s one expert’s opinion.
Bye Bye Britain Well, the unthinkable happened early this morning (or late last evening depending on where you live). The UK voted to leave the European Union, agreeing to Brexit instead of Bremain, as they say. So hold onto your cup of tea, itâs gonna be a bumpy ride. The initial reaction was one of [&hellip
The post Brexit vs. Mortgage Rates: How Low Might They Actually Go? first appeared on The Truth About Mortgage.
The mortgage forbearance rate worsened yet again compared to last week, though as expected the increase has slowed as the pool of borrowers grows larger. As of April 26th, some 3.8 million homeowners were in forbearance plans, per the Mortgage Bankers Association’s (MBAâs) most recent Forbearance and Call Volume Survey. The forbearance rate increased from [&hellip
The post Nearly 4 Million Homeowners Now in Mortgage Forbearance Plans, Servicers May Get 0 Payments first appeared on The Truth About Mortgage.
It’s normal to be concerned about risking your savings. But if fear of loss has you paralyzed, read this.
In light of the ongoing coronavirus outbreak, which were the Federal Reserveâs very own words, the Committee took bold action to lower the target range for the federal funds rate to 0% to 0.25%. Thatâs a full percentage point lower than the 1% to 1.25% it had been previously. And comes on top of the [&hellip
The post The Federal Reserve Has Swooped In to Save Mortgage Rates first appeared on The Truth About Mortgage.