Archive for June 2019
NEWS: The majority of consumers are wildly wrong about what it takes to get a mortgage
Diana Olick June 11, 2019 After the subprime mortgage crisis and the collapse of the U.S. housing market in 2008, lending standards tightened dramatically. Credit score requirements rose, and most borrowers were required to have skin in the game, in the form of a down payment. Rules were also put in place setting a limit…
Read MoreNEWS: Tax Cuts and Jobs Act will likely spur demand for entry-level homes, researchers say
Jessica Guerin June 10, 2019 Most Americans have seen their disposable income spike thanks to 2017’s Tax Cuts and Jobs Act, and this could provide a sizable boost to homeownership, researchers say. Last year, the savings amounted to renters paying $2,716 less in taxes, and homeowners paying $1,508 less, according to researchers at John Burns Real Estate…
Read MoreNEWS: Lack of Mortgage Savvy May be Stifling Homeownership
Jann Swanson June 6, 2019 Fannie Mae’s monthly National Housing Survey consistently shows that the vast majority of Americans would prefer to own rather than rent a home but are uncertain or mistaken about what qualifications are necessary to get a mortgage. Now the company has reprised a 2015 survey exploring that knowledge gap and found, after…
Read MoreNEWS: Lower Rates Spur Millennial Mortgage Activity
MBA NewsLink Staff June 7, 2019 Ellie Mae, Pleasanton, Calif., said across-the-board declines in mortgage interest rates and more favorable housing market conditions sparked an increase in Millennial mortgage activity in April. The company’s monthly Millennial Tracker said lower interest rates spurred an increase in refinance loans from Millennials looking to take advantage of lower rates.…
Read MoreNEWS: Survey: 40% of top economists expect Fed to cut rates over next year
Sarah Foster June 6, 2019 The U.S. economy has been sending mixed signals in recent days, but the nation’s top economists say there’s likely more harm than good. Escalating trade tensions between the U.S. and China, slowing growth around the world and waning fiscal stimulus are all acting as a headwind to growth, according to…
Read MoreNEWS: Most consumers overestimate what it takes to get a mortgage
Jessica Guerin June 5, 2019 When it comes to obtaining a mortgage, the majority of consumers think it requires a higher credit score and larger down payment than is actually necessary, according to a recent survey by Fannie Mae. Of the 3,647 surveyed consumers, most vastly overestimated the requirements to obtain a mortgage. Specifically, 53% thought a credit…
Read MoreNEWS: A $4 Trillion Plan Could Make or Break Dreams of U.S. Homebuyers
Christopher Maloney May 30, 2019 Washington says a major change in the mortgage-backed securities market could make home loans more affordable nationwide. Not everyone on Wall Street is so sure. The revamp, the most significant overhaul of the market in a generation, will virtually eliminate the distinction between bonds issued by Fannie Mae and Freddie…
Read MoreNEWS: Millennials: “Doorbells Before Wedding Bells” and Few Regrets
Mike Sorohan May 30, 2019 For Millennials, “First comes love, then comes marriage” is being replaced by “first comes home, then comes marriage.” Two new reports appear to bear out that sentiment. SunTrust, Atlanta, said its survey of 2,000 U.S. adults found nearly half of Millennials (ages 22-38) who have been married say they and/or…
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