Mortgage Rates vs. a Potential War with Iran

Well, it’s a new year and it certainly didn’t begin quietly. Might as well address the elephant in the room when it comes to your mortgage. This isn’t the first time I’ve discussed the possibility of war and its impact on mortgage rates, with the last discussion centered on the Syrian conflict back in 2013. [&hellip

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It’s Taking a Really Long Time to Get a Mortgage Right Now

Similar to the increased waiting times to get a COVID-19 test these days, it’s taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The more people that need one, the longer the wait, period. This is the downside to [&hellip

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The 2021 Housing Market Is Kind of Like the Toilet Paper Shortage

To say residential real estate is on fire would be a huge understatement. In fact, it’s so popular that we’re literally running out of homes. Simply put, there are too many home buyers and not enough properties for sale, nor is the supply being replenished fast enough. In a way, it reminds me of the [&hellip

The post The 2021 Housing Market Is Kind of Like the Toilet Paper Shortage first appeared on The Truth About Mortgage.

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15-Year Fixed Mortgage Rates Just Hit Record Lows: Should You Consider One?

While 30-year fixed mortgage rates tend to steal all the headlines, 15-year fixed mortgage rates quietly reached record lows this week as well, per Freddie Mac’s weekly survey. This morning, Freddie announced that the 30-year fixed fell to a new record low 2.65%, down from 2.67% last week. That was the first record low of [&hellip

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Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance

The Department of Veterans Affairs (VA) has proposed a new loss mitigation method to help homeowners with VA loans in COVID-19 related forbearance get back on track. The new program, known as the COVID-19 Veterans Assistance Partial Claim Payment program, or COVID-VAPCP for kind of shorter, somewhat mirrors existing programs offered by the FHA and [&hellip

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Source: thetruthaboutmortgage.com

Don’t Freak Out About the Recent Mortgage Rate ‘Spike’

Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Mac’s weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip

The post Don’t Freak Out About the Recent Mortgage Rate ‘Spike’ first appeared on The Truth About Mortgage.

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Home Prices Are Expected to Rise Another 10% by Next November

If you’re an existing homeowner, get excited, very excited. A new forecast from Zillow says home prices are going to rise 10.3% from this November until November 2021. That’s on top of the already stellar growth realized since around 2012, when home prices seemed to bottom and begin their meteoric and historic ascent. Those fortunate [&hellip

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Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows

Mortgage rates can be pretty volatile. Just like stocks, they can change daily depending on what’s happening in the economy. Beyond that, mortgage rates can move based on news that doesn’t involve a report on the economic calendar, such as a jobs report, GDP, housing starts, inflation, etc. Even if there isn’t a direct financial [&hellip

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National Association of Realtors Says Home Prices Are Rising Too Fast

It’s good to be a homeowner these days. After all, home prices are rising at an incredible pace, and have been for nearly a decade now since bottoming out. On top of that, many of today’s homeowners hold fixed-rate mortgages with ultra-low mortgage rates, making it very affordable to own rather than rent. Unfortunately, the [&hellip

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Source: thetruthaboutmortgage.com

United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%

The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA [&hellip

The post United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2% first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com