U.S. Housing News

Mortgage News

The Mortgage News blog is an educational service provided by the publishers of the Home Buying Institute. Each week, we bring you the latest mortgage news from around the United States and help you put it into perspective. We provide information relating to loan rates, regulations, industry developments and more.

Here are the latest stories:

Product Alert: 3% Down Payment With No Mortgage Insurance at TD Bank

In an effort to drum up more business within its East Coast base of operations, TD Bank has announced a new type of loan with some pretty significant benefits. Borrowers can make a down payment as low as 3% without having to pay for private mortgage insurance (PMI), which is typically required on such loans.

How Much Does Private Mortgage Insurance Cost in 2014?

Shopping for a home loan? Will your down payment be less than 20% of the home value? If you answered yes to both of these questions, there’s a good chance you’ll have to pay for private mortgage insurance. And that will increase the size of your monthly payments. The question is, how much will it […]

Mortgage Market Report Shows Easing Credit Standards in 2014, Versus Last Year

Want a mortgage loan? You better have good credit. Checking your credit score is one of the first things the lender will do when you apply for a loan. A low score will make it harder, if not impossible, to qualify for financing. But here’s the good news. A recent industry report showed that mortgage […]

Trend Watch: Down Payments Below 20% for Jumbo Non-Conforming Loans in 2014

Borrowers seeking a non-conforming jumbo mortgage (one that exceeds conforming loan limits for the county in which they reside) recently got some good news. It seems that some lenders are lowering the down-payment bar for these products.

Concerns About Mortgage Rules for Self-Employed Borrowers Are Overblown

There has been much ado lately about the new mortgage rules that took effect earlier this year, and how they might affect self-employed borrowers. Some have claimed the new requirements will make it harder for the self-employed to qualify for mortgage loans in 2014 and beyond. But the Consumer Financial Protection Bureau (CFPB), the federal […]

Chart: Today’s Mortgage Rates Lowest Since November 21

At the end of 2013, many economist and mortgage analyst were predicting a steady rise in mortgage rates throughout 2014. That may come to pass eventually. But right now, rates are actually dropping across all loan categories. The average rate for a 30-year fixed-rate home loan recently hit its lowest point since November 21 of […]

Average Credit Score for Mortgages Drops from 748 to 727 in a Year

More good news for borrowers in 2014: Ellie Mae, a company that provides software for the mortgage industry, recently said that the average credit score for a closed loan dropped by more than 20 points in 2013. It’s the latest sign of easing within the lending industry.

New Lending Rules Should Not Affect Down Payments in 2014

When the QRM rule was first proposed, financial regulators proposed a mandatory down payment of 20% for home loans. But this led to a firestorm of controversy. The rule-makers have since backed off and created a different and less restrictive proposal.

Will Mortgage Rates Go Up in 2014? Many Economists Say Yes

There seems to be a general consensus among economists and analysts that mortgage rates will go up in 2014. That’s the bad news for borrowers. The good news is that they are expected to rise gradually over the course of the year.

Wells Fargo Says No Change to Mortgage Requirements, Despite QM Rule

It’s business as usual with the nation’s largest mortgage lender. Officials from Wells Fargo recently stated they will maintain their current lending practices and standards, despite the forthcoming QM rule that is expected to alter the mortgage industry. It’s not yet clear how others will respond to the new rules.

U.S. Housing News