Generally, the cost of homeownership is under-stated. Let's figure this to be around 0.175% of purchase price: For many Americans, their expected mortgage payment may not be all that different from their current monthly rent. But even if you have a down payment saved...
Lenders have been pulling back on their willingness to loan money around the fringes: Any loan that's not right down the middle of the conventional spectrum raises questions about how it will impact lenders as they navigate what is easily the largest and fastest surge...
Rates changing from 2.875% to 4.0% in less than a week - wow! There is some hope that the Fed will throw more money at the MBS market next week. From MND: With all that in mind, some smart people are convinced the Fed will announce such a balance sheet juicing at or...
Mortgage rates officially hit all-time lows this morning. Even so, it continues to be the case that Treasury yields (often referred to as the basis for mortgage rates) are falling much faster. That's because Treasuries aren't actually the basis for mortgage rates. ...
The MND's survey above are today's rates with no points, which means that homebuyers who are willing to pay a point or so will be getting a mortgage rate starting with a 2! While there is certainly a big concern about the coronavirus affecting the world economy - and...
Mortgage Amount 30-Yr Rate Monthly Payment $540,000 9.0% $4,345 $688,000 6.5% $4,349 $810,000 5.0% $4,348 $885,000 4.25% $4,354 $1,000,000 3.25% $4,352 The same buyer who qualified for a $810,000 loan amount just 15 months ago can now borrow $1,000,000 and get the...
Did you hear that rates bumped up 1/4% in the last week? It doesn't take much! Doug Duncan, Fannie Mae chief economist, discusses if the rise in mortgage rates could help the housing market (causing those buyers on the margin to jump in quickly):...
The latest easing of FHA underwriting, which usually means trouble - but don't fear, they have 'levers': Excerpts:...
Another example of someone getting caught while exploiting a loophole, who then tries to use discrimination as their lever: [button link="https://www.bloomberg.com/news/articles/2019-04-22/trump-s-housing-agency-cracks-down-on-no-money-down-home-loans"...
The graph above is for 'America's home'. The 2019 NSDCC median sales price is $1,288,000, and somewhat reasonable for the Top 5% - about the only folks left who can afford a coastal home: https://statisticalatlas.com/place/California/San-Diego/Household-Income Mrdot...
