Debt-Ceiling Drama Causes Mortgage Rates to Rise
In recent weeks, mortgage rates have experienced a notable increase, marking the second consecutive week of upward movement. This rise is primarily attributed to the prevailing uncertainty surrounding the debt-ceiling standoff. As the U.S. economy demonstrates...
Debt Consolidation Cash Out Refinance: Is it the right move for you?
A debt consolidation cash out refinance is a type of mortgage that allows you to borrow money against your home's equity to pay off other debts, such as credit card debt. This can help improve monthly household cashflow by lowering the total amount of a household's...
US Mortgage Rates Continue to Decline as Inflation Progresses: What it Means for Home Buyers
Mortgage rates in the US have declined for the second consecutive week due to progress on inflation. The average interest rate on a 30-year fixed-rate mortgage fell to 6.35% from 6.39% the previous week. Click here to find out where your personal interest rate will...
Spring 2023 – What’s happened and what to expect
Last week, the real estate market saw a decrease in active inventory and new listing data, with the latter reaching an all-time low in 2023. However, purchase application data increased by 8%, indicating that homebuyers are moving quickly into escrow. The seasonal...
Fannie/Freddie Announce Update to Equitable Housing Finance Plans
Fannie Mae and Freddie Mac, the two government-sponsored enterprises that back the majority of U.S. mortgages, announced on Wednesday new updates to their equitable housing finance plans. The updates include a number of new initiatives, such as expanding special...
JPOW before Congress – March 2023 – Day 1 of 2
The Federal Reserve is considering a half-point hike in interest rates (instead of the previous 0.25% increments), and if faster tightening is required, the Fed is ready to increase the pace of rate hikes. Inflation has slowed down in recent months, but the closely...
Making the Most of a Challenging Housing Market: Tips for California Homebuyers in the Face of Economic Volatility
The housing market has been on a roller coaster ride in recent weeks, with mortgage rates increasing for the fourth consecutive week due to inflation concerns. This has left some prospective homebuyers feeling hesitant about entering the market. However, there is an...
Just in! Biden Admin Cuts Mortgage Insurance Payments for New Homebuyers
The Biden administration has announced a reduction in the annual mortgage insurance premium charged to new borrowers taking out loans insured by the Federal Housing Administration (FHA). The premium rate will decrease from 0.85% to 0.55%, lowering monthly mortgage...
Navigating the Housing Market in 2023: Insights from CoreLogic and Zillow’s Latest Surveys
The latest data from CoreLogic and Zillow shows that the market is expected to continue to appreciate in the coming years, though not at the breakneck pace of 2020 and 2021. According to CoreLogic’s Home Price Index, home values increased by 6.9% in December 2022...
Break for Homebuyers: Mortgage Rates Fall for 4th Week in a Row
Mortgage rates have fallen for the fourth week in a row, following a smaller interest rate hike by the Federal Reserve. The 30-year fixed-rate mortgages for prime borrowers with a 20% down payment averaged 6.09% this week, down from 6.13% the previous week. This...