Mortgage Demand Experiences Another Decline as Rates Surpass 7% Once More

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

The popular 30-year fixed mortgage soared past 7% yesterday, marking its highest level since the start of March, as reported by Mortgage News Daily. Investors are grappling with mounting worries that have led to rising rates.  Firstly, the Federal Reserve’sContinue Reading

Rocket Mortgage Groundbreaking ONE+ Program Offers a Remarkable 1% Down Payment Scheme

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

Rocket Mortgage, a retail home lender, has unveiled its newest offering called ONE+.  This innovative program enables homebuyers to contribute a mere 1% down payment towards the purchase price of a property, while Rocket Mortgage graciously covers the remaining 2%Continue Reading

Digital Pay Stubs Utilized by Freddie Mac in Updated Income Assessment Tool

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

Monday saw the announcement from Freddie Mac that its automated income assessment tool has undergone an update, now incorporating a borrower’s digital pay-stub data. Freddie Mac stated that by integrating pay-stub data, their innovative tool enables lenders to evaluate theContinue Reading

US Debt Default Could Lead to a Staggering 22% Surge in Home-buying Costs

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

By taking prompt and decisive action, the U.S. government can avoid the potential risk of defaulting on its debt, which is projected to occur as early as June 1. Interventions are being considered to prevent this situation, ensuring stability inContinue Reading

Empowering Homebuyers: NewRez Revolutionizes Downpayment Assistance with Freddie Mac's Enhanced Program

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

NewRez Unveils Game-Changing Partnership: Empowering First-Time Homebuyers with Enhanced Downpayment Assistance Program In an exciting development within the mortgage industry, leading lender and servicer NewRez has introduced a groundbreaking special-purpose credit program in collaboration with Freddie Mac.  This innovative initiativeContinue Reading

High Rates Squeeze Buyers as US Home-Price Gains Cool

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

Annual growth in US home prices slowed in February as buyers were squeezed by higher borrowing costs. According to S&P CoreLogic Case-Shiller data, home prices rose 2 percent nationally in February, a slower pace than January’s 3.7 percent gain.  ManyContinue Reading

Single Family Housing Sector Saw Increase In March 2023

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

The US single-family housing sector showed improvement in March, with an increase in homebuilding and permits for future construction. The Commerce Department reported that single-family housing starts, which make up the majority of homebuilding, rose by 2.7% to a seasonally adjustedContinue Reading

Defy Mortgage Launches as a National Mortgage Lender For Non-QM Loans

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

As a national mortgage lender with a focus on non-qualified (Non-QM) loans, Defy Mortgage announced on Tuesday that it had begun operations. situated in Nashville, Tennessee. According to Defy, it provides special lending options for trustworthy borrowers with unusual sourcesContinue Reading

Fannie Mae Home Purchase Sentiment Index Rises in December But Affordability still A Big Challenge In 2023

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

However, it is still far below pre-pandemic highs, according to new Fannie Mae data. The sentiment of prospective homebuyers’ purchases slightly improved in December.  According to Fannie Mae, persistent affordability issues will prevent buyers from entering the market in 2023,Continue Reading

Veros Real Estate Solutions Expects Home Prices to Turn Negative in 2023

By:
In: New Home Mortgage News

Warning: Undefined variable $custom_content in /home4/comcompare/public_html/mortgagenews/wp-content/plugins/code-snippets/php/snippet-ops.php(582) : eval()'d code on line 10

Veros Real Estate Solutions expects home prices to turn negative, falling an average of 0.5% over the next 12 months, the first negative forecast in more than a decade. According to Veros’s VeroFORECAST for the fourth quarter of 2022, aContinue Reading