via nationalmortgagenews: Independent mortgage bankers lost the largest amount for originating a loan in the fourth quarter since this data has been tracked, as costs rose and volume dropped, according to the Mortgage Bankers Association. “Independent mortgage bankers continued to struggle …
via housingwire: While it appears that the Federal Housing Administration may not be backing mortgages for Deferred Action for Childhood Arrivals recipients, Fannie Mae declared recently that it supports (and will continue to support) mortgages for DACA recipients, also called Dreamers. In recent weeks, HousingWire has been investigating whether …
via marketwatch: Cash-out refinancing fallout threatens home prices The 2004-07 bubble era in U.S. housing markets was a time of utter madness. Much has been written about it, but almost nothing has been said about the craziest aspect of it – …
The subprime crisis taught the world, particularly those in the U.S, the dangers of gambling with real estate. They pushed it to the absolute maximum and it destroyed many people along the way. This was called out by some, but …
by ButtGardener This is a wierd situation and I’m gutted… I really just wanted to post here for some advice. I was in the process of removing my PMI from my mortgage, it’s expensive, like $150 a month.. for …
by confoundedinterest The Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie were placed into conservatorship with their regulator back in 2008 after housing prices declined and mortgage defaults spiked. But since the catastrophic year of 2008, Fannie Mae (as an example) …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter But deposit-taking banks have pulled back. Lovingly known as “shadow banks,” nonbanks have come to dominate the mortgage market. And they originate the riskiest mortgages. The government — mostly the Federal Housing Administration (FHA) — is …
By Robert Ross “Housing prices in the US never go down.” Just about everyone in America believed that in the mid-2000s. A limited amount of buildable land and a growing population would keep housing demand strong. So, house prices will continue …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter The hope in early January has been unwound. A month ago, mortgages reappeared in the housing-hype circus, when it was widely reported that mortgage applications “soared” and “jumped.” Both types of mortgage applications did so: those …
by confoundedinterest MarketWatch has the tantalizing headline of “The Average Adjustable-rate Mortgage Is Nearly $700,000.” True, the average loan size for ARMs (adjustable-rate mortgages) is substantially higher than for FRMs (fixed-rate mortgages). But here is a catch. Mortgage refinancing applications are virutally …
Beginning for tax year 2018, taxpayers are limited to deducting mortgage interest on the first $750,000 of debt related to acquiring, building or substantially improving the primary or designated secondary residence that the loan is secured by. Prior to the …
by klsklsk The best advice is to run the numbers and look at mortgage amortization calculator/tables. The difference in interest rate is really what will tip this one way or the other. If its the same interest rate, you 100% take …
via outline: Remember the subprime mortgage mess? $1.2 trillion in risky corporate debt is flashing similar warning signs Indebted borrowers increasingly take out high-interest, adjustable-rate loans that are packaged into securities and sold to investors eager for a better rate of …
via businessinsider: The US housing market took a dark turn in 2018 as homebuying fell off a cliff and mortgage lenders saw a steep decline in applications, originations, and profits. Interest rates are partly to blame for the slide in housing, …
By Harry Dent Look at this insanity… I would never have thought this many major cities would have 11%-plus mortgages underwater… especially not at the top of a second real estate bubble. How bad will it be when we move into the …
via MarketWatch: How low can they go? With earnings from three of the four biggest banks in, one metric stands in sharp relief. Mortgage lending just keeps plunging. In the fourth quarter, mortgage originations at Citi C, +0.31% were down 23% compared …
Shutdown Crisis: Unpaid Government Workers Owe $400M in Mortgage and Rent This Month For many federal workers, keeping a roof over their heads got a lot harder in January thanks to the partial government shutdown that is approaching its third …
via CNBC: Even with mortgage rates at the lowest level in three months, homebuyers are pulling away from the housing market. Mortgage application volume fell 5.8 percent last week from the previous week, according to the Mortgage Bankers Association. Volume …
by Tom McClellan Housing sector stocks have been among the worst performers in 2018, and analysts are pointing to lots of different reasons including the newly imposed U.S. tariffs on Canadian softwood lumber. But an easier explanation arises when we look …
via yahoo: Rising mortgage rates are crushing much of the refinancing market. But Americans are still using refis to pull cash out of their homes. More than 80% of borrowers who refinanced in the third quarter chose the “cash out” option, …
The Bank of Canada is desperate. The housing market in Canada is the last avenue for keeping up a fraudulent economy. Real estate has been the only factor allowing Canadians feeling as if everything is ok. Just use your home …
The UK is undergoing a crisis at this time. With uncertainty over Brexit and massive disruptions in the government, there’s no telling what tomorrow has in store. In the meantime, housing has slowed down, prices are getting slashed, and it …
With no major move in interest rates and continued weakness in home affordability, there was not a lot of incentive for homebuyers to make a move last week, and there was even less for homeowners looking to save money on …
Wolf Richter wolfstreet.com, www.amazon.com/author/wolfrichter Mortgage rates are climbing faster than the 10-year Treasury yield. The average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($453,100 or less) and a 20% down-payment rose to 5.17% for the latest reporting …
Potential homebuyers pulled back last week, worried about rising interest rates and about what was behind big daily drops in the U.S. stock market. Mortgage application volume fell 3.2 percent last week compared with the previous week, according to the …
We’re overestimating growth, thinking of it as heading towards low growth. In reality, we’re heading towards negative growth, once adjusted for inflation. By Stephen Punwasi, Better Dwelling: Canadian mortgage credit growth is falling, but how bad is it in real terms? …
In your opinion, are real estate prices too high compared to wages where you live? Or is the current level normal? The real estate situation in the U.S. is getting worse. Prices have stagnated in many areas and sellers are …
by Mac Slavo of SHTFplan Weekly mortgage application fell a whopping 7.1% as the cost of borrowing money surged. Interest rates are climbing higher making debts more expensive, so naturally, fewer people can now afford to buy homes. Rising interest rates appear to …
from Jason Hartman’s Creating Wealth Jason Hartman discusses some key aspects for real estate investors. One of the most important, and most visible, components of investing is interest rates, and there are some absolutely critical things you need to remember about …
by ya_yea_yeah A couple years ago when interest rates bottomed out I made the choice of refinancing my 30 year into a 15 year at a 2.75% rate. I was borrowing at a rate of 4.375% prior to this. But …