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:
It seems to be the new mission statement among our nation’s housing officials: We need to expand access to credit for responsible borrowers. Loosely translated: It should be easier, not harder, for such people to qualify for a home loan.
There have been two noteworthy developments in recent weeks, where mortgage down payments are concerned. They will affect borrowers who are shopping for a home loan in 2015. In light of these recent developments, we thought it was time to publish an update on the subject. Here’s what borrowers should know about mortgage down-payment requirements […]
Mortgage rates took a big jump last week, after a period of relative stability that lasted several months. This is according to the weekly market survey conducted by Freddie Mac, the government-controlled entity that buys and sells loans in the secondary market. The mortgage rate chart above was released on Thursday, September 18. The stable […]
Is it too early to offer mortgage rate predictions and analysis for 2015? We think not. In fact, research shows that most borrowers begin studying the market months before they actually close on a loan. So we have compiled several forecasts for next year, to give you a head start.
Wondering what it takes to qualify for a home loan in 2014? You’re not alone. Of all the questions we receive each week, roughly 70% of them have to do with mortgage qualifications and requirements in 2014. In short, people want to know what it takes to get a loan these days. So we put […]
This article provides an overview of mortgage assistance programs available to home buyers in the state of Texas. Some of them are limited to first-time buyers, while others are open to a broader pool of candidates. Most of them provide financial aid to help borrowers cover the cost of down payments and closing costs.
Many home buyers are stymied by the upfront costs that come with buying a house, such as the down payment and closing costs. The good news, for some, is that various government agencies offer help in the form of grants, low-interest loans, and other types of support.
Are easier mortgage lending standards on the horizon? It’s possible. Earlier this week, the Federal Housing Finance Agency (FHFA) announced a rule change that could cause lenders to relax their criteria for borrowers. It is scheduled to take effect in July 2014.
We wanted to know how the new lending rules (Qualified Mortgage and Ability to Repay) have affected the industry. So we asked a few lenders about it. As it turns out, QM and ATR haven’t changed much at all, aside from creating a few additional paperwork hurdles. Get the full story inside.
At the end of last year, many economists and housing analysts were predicting a steady rise in mortgage rates throughout 2014. But that hasn’t happened. In fact, interestingly enough, the current average rate for a 5/1 ARM loan is exactly where it was at the start of the year. So much for crystal balls.