Housing, Mortgage

Refinance applications jump on wild swings in mortgage rates

By Mike Wheatley | August 12, 2022
Mortgage rates last week rebounded, having dropped towards the end of July. As a result, mortgage demand was split, with refinancing applications moving higher while homebuyer applications fell, according to the latest data from the Mortgage Bankers Association. The data shows that the average contract interest rate for a 30-year fixed-rate mortgage with a conforming […]
Housing, Mortgage, Real Estate

Mortgage applications rise amid strong demand for ARMs

By Mike Wheatley | June 24, 2022
Mortgage applications surprisingly jumped 8% last week compared to the previous seven day period, boosted by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association. However, applications are still down 10% compared to one week ago. The MBA said that last week’s jump in mortgage rates may have actually increased homebuying demand, as consumers […]
ARM
Mortgage, US Real Estate

More Home Buyers are Reaching for ARMs

By Brian Kline | May 22, 2022
The demand for homes remains robust. Despite 30-year mortgages being firmly above a 5% interest rate, mortgage applications for home purchases increased 5% in mid-May. That’s not surprising because springtime is the busiest season for home purchases. What is different this year is that buyers are turning to adjustable rate mortgages in higher numbers than […]
Housing, Mortgage

Higher rates may prompt homeowners to stay put, but how will that impact inventory?

By Mike Wheatley | April 22, 2022
Approximately half of American homeowners who currently have a mortgage enjoy a rate of less than 4%. Given that interest rates are now closer to 5%, experts say this could prompt many to stay put, possibly resulting in more pressure on the already-low inventory of homes for sale. The thinking is that homeowners who’re locked […]
ROI Investment
Mortgage

Why A Mortgage Broker Is Necessary For First-Time Home Buyers

By Mike Wheatley | April 20, 2022
Mortgage brokers serve as a conduit between customers and lenders, and they can make a significant difference in your search for the ideal loan.  If it's your first time buying a house, you should know that you will be making a considerable investment. Thus, working with a mortgage broker can benefit you in many ways.  […]
Mortgage

3 Key Differences Between Conventional & Physician Mortgage Loans

By Jamie Richardson | April 8, 2022
Physician mortgage loans are a particular loan class exclusively available for physicians and medical residents. A few factors can make home loans more difficult than you would expect for a person who works as a doctor.  If you’re a physician or a dentist, you may have a high student loan balance as a newly graduated […]
Mortgage, US Real Estate

Buying a House While in Chapter 13 Bankruptcy

By Eric Jeanette | April 5, 2022
One of the frequently asked questions during today's booming housing market is can I qualify for a mortgage during Chapter 13 Bankruptcy. Chapter 13 Bankruptcy is a court-approved debt repayment plan where their debts are restructured over a period of three to five years. The individual pays a fraction of their debts to creditors under […]
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