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:

Getting the Best Mortgage Rate in 2015 Requires Points, Excellent Credit

What does it take to qualify for the best mortgage rates in the current economy? In short, excellent credit and points. Lenders use something called risk-based pricing when setting interest charges. That’s why your credit situation is important — it’s a numerical indicator of risk. You can also ‘buy down’ your rate by paying discount points at closing.

Los Angeles Mortgage Rate Trends in 2015: Below 4%, but for How Long?

Summary: Los Angeles mortgage rates are currently averaging 3.63% in the 30-year loan category. Many analysts expect long-term interest rates to rise later in 2015, due to economic gains and actions taken by the Federal Reserve. Conventional wisdom says the best time to buy a house is when mortgage rates are low and home prices […]

Mortgage Standards in 2015: They’re Not So Tough After All

A message to home buyers: Don’t be afraid of mortgage standards in 2015. Despite the doom-and-gloom headlines about government regulation of the lending industry, it’s actually easier for borrowers to qualify for a loan today than it was in the wake of the housing crisis. Call it a return to normalcy.

VA Loan Limits for 2015 Announced This Week: Same as Conforming

According to a recent policy letter published by the Department of Veterans Affairs, VA loan limits in 2015 will match the maximum amounts used by the Federal Housing Finance Agency for conforming loans. This could bring lower caps for some counties in the U.S.

97% Mortgage Loans Coming in 2015: Two New Programs

Home buyers with limited down-payment funds could have an easier time finding 97% mortgage financing in 2015. Two new programs announced recently would fund up to 97% of the purchase price, allowing borrowers to make a down payment of only 3%. Fannie Mae and Freddie Mac, the two mortgage-backing giants that operate in the secondary […]

Mortgage Income Requirements in 2015 Will Be Driven by New Rules

New government rules have mortgage lenders checking, and double-checking, the income status of borrowers. Now more than ever, lenders want to ensure that home buyers have the ability to repay their loan obligations. It’s a sign of the times. So, how much do you need to earn to buy a house these days? Here’s an […]

30-Year Mortgage Rates Could Average 4.6% Next Year, Says Economist

A prominent U.S. economist issued a prediction for average mortgage rates today. Frank Nothaft, chief economist for mortgage-buying giant Freddie Mac, recently stated that 30-year mortgage rates could average 4.6% next year. He also said the average rate will likely be higher at the end of 2015 than at the beginning, perhaps reaching 5.0% by […]

2015 HARP Update: Current Requirements for Government Refinancing Program

The Home Affordable Refinance Program, or HARP, has helped hundreds of thousands of homeowners refinance into more affordable home loans. Many homeowners who use the program are underwater, meaning they owe more on their mortgages than their homes are worth. The HARP refinancing program has undergone a handful of changes since it was first rolled […]

Should You Refinance Your Home Loan in 2015?

Mortgage rates have been low for the last two years, but they are projected to rise gradually over the coming months. This leaves a lot of homeowners asking the question: Should I refinance my home in 2015? This article explains how to calculate your savings.

Mortgage Credit-Score Requirements for 2015, Based on Lender Feedback

It’s getting close to the end of the year. That means it’s time for one of our annual traditions — lender surveys. We recently surveyed 21 mortgage companies across the United States to see what kind of credit-score requirements they would have in place in 2015. Here’s a summary of what they told us.