Mortgage Lending Volume Hits Highest Level on Record Despite COVID-19

Mortgage News

The latest real estate and mortgage industry news, digested. Look beyond the headlines to better understand what’s really happening.

Colin Robertson
September 9, 2020

It makes sense that the mortgage industry would see its best quarter in history during a global pandemic. Okay, it doesn’t make sense, but that’s what happened anyway, per the latest Mortgage Monitor report from Black Knight. Mortgage Lenders Originated … Read More »

Beware the New Mortgage Fee Fearmongering

Colin Robertson
September 1, 2020

You may have heard there’s a “new mortgage fee.” And you might have been told to hurry up and refinance NOW to avoid said fee. While there is some truth to that, it is by no means a reason to … Read More »

Fannie Mae and Freddie Mac Mortgage Refinances Just Got More Expensive

Colin Robertson
August 13, 2020

Way to rain on our parade, Fannie Mae and Freddie Mac. Just when mortgage rates were hitting record lows, the pair decided to add a new fee to mortgage refinances in light of the ongoing pandemic. Simply put, they expect … Read More »

COVID-19 Is Pushing Home Buyers to Move Sooner

Colin Robertson
August 6, 2020

Sometimes you need a little push to get things going, especially when it’s a big something like purchasing a home. Well, it turns out a pandemic can be that driving force, as evidenced by a new survey from real estate … Read More »

Home Prices Are the Most Affordable They’ve Been Since 2016

Colin Robertson
August 4, 2020

With real estate white-hot and property values continuing to skyrocket despite a worldwide pandemic, homes remain surprisingly affordable. At first glance, it’s kind of odd, both that home prices continue to rise amid a pandemic, and that they’re still quite … Read More »

How About a 1% Mortgage Rate?

Colin Robertson
August 3, 2020

Read about:   Option ARM - The World's Most Dangerous Mortgage

Well, maybe not exactly 1%, but in the 1% range? More specifically, starting with the number “1,” which on its own sounds too good to be true. It’s now a reality thanks to, you guessed it, United Wholesale Mortgage, who … Read More »

UWM’s Exact Rate Lets Borrowers Choose Exact Mortgage Rates

Colin Robertson
July 30, 2020

The mortgage industry can be a little bit old school. Similar to how the stock market used to operate in sixteenths, and later eighths, mortgage rates are mostly offered in eighths. Before 2001, the stock market only allowed price movements … Read More »

Homeowners in Forbearance Plans Have Lower Credit Scores, Higher DTI Ratios

Colin Robertson
July 28, 2020

The latest weekly Forbearance and Call Volume Survey from the Mortgage Bankers Association (MBA) revealed that 7.80% of outstanding home loans were in forbearance. That number was up slightly from 7.74% a week earlier, putting roughly 3.9 million homeowners in … Read More »

Knock Home Swap: Buy, Sell, a Get a Mortgage with Just One Company

Colin Robertson
July 16, 2020

One of the trickiest aspects of homeownership is unloading an existing property while acquiring a replacement. Aside from being stressful, it can also be difficult it not impossible thanks to financing constraints and unwanted contingencies, which a home seller likely … Read More »

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

Colin Robertson
July 9, 2020

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 … Read More »

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