Refinance Rate Lock Volume Has Dropped by More Than 60 Percent Over the Past 12 Months

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In: Refinance News

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Rate lock volume has fallen more than 60% over the past 12 months as they struggled under the weight of high mortgage rates which ended at 7.06% in October.  The refinancing market is bottoming out as interest rates rise. AccordingContinue Reading

Increasing Mortgage Rates Push Borrowers To Seek All Other Possible Options

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In: Refinance News

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With mortgage rates rising above 7 percent, alternatives like temporary interest reductions and down payment assistance programs are becoming more popular, lenders say. Borrowers are now looking for options to lower their down payment and expect interest rates to dropContinue Reading

Foreclosure Activity In The Country Rise By 167 Percent From Last Year

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In: Refinance News

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Lenders started the third quarter with a total of 67,249 foreclosures in the U.S., up by 167 percent from a year earlier, according to a new data center report by ATTO real estate.  The growth rate is close to theContinue Reading

Number Of Loans In Forbearance Dropped In August 2022 By 2 Basis Points

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In: Refinance News

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The Monthly Report for Monitoring of the Mortgage Bankers Association (MBA) shows that the total number of current and forbearance loans against 0.74% of the volume of the management portfolio in July fell to 0.72% of 32.1% on August 31. Continue Reading

Top 3 Reasons For Refinancing Your Current Mortgage In spite Of Rising Rates

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In: Refinance News

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Home loan refinancing is very popular in the heart of the pandemic as interest rates have fallen to recent record lows.  But things have changed now and it costs more to get a refinance loan. In fact, as of JulyContinue Reading

Know More About Digital Refinance

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In: Refinance News

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Demand for housing remains strong as mortgage rates continue to rise, but refinancing applicants are declining rapidly.  With the average 30-year mortgage interest rate well above 5%, mortgage lenders see fewer customers wanting to refinance.  In a low-demand market, lendersContinue Reading

Highest Interest Rate Hike By Federal Reserve Since 1994

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In: Home Equity News

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The Federal Reserve has taken all its steps to curb skyrocketing inflation, announcing that it will raise interest rates by 0.75%, the largest increase since 1994. An increase in the interest rate will increase the reference rate, or the rateContinue Reading

Keep A Watch On VA Closing Fees

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In: Refinance News

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There are a lot of motivations to get a VA loan. However, what might be said about closing costs? In this episode of From Military to Millionaire, David brings it to light. What Are Closing Costs, Anyway? Closing costs areContinue Reading

FHA Confirmed Unique Post-foreclosure Sales Period for Owner-occupant Buyers

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In: Refinance News

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As per the recent Mortgagee Letter, the FHA laid out a selective Post-Foreclosure Sales period for specific owner-occupant buyers, HUD-endorsed Non-profits, and governmental elements.  Albeit the provisions of the Mortgagee Letter might be executed right away, the provisions should beContinue Reading

All About APR and How it Impacts Your Mortgage?

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In: Refinance News

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What you pay to get cash goes past your interest rate. By knowing what APR on a mortgage implies, you can get a superior comprehension of the complete expense of your mortgage. Realizing the APR is likewise an extraordinary methodContinue Reading