Archive for August 2019

NEWS: Millennials drive mortgage refinance boom, and lenders are scrambling

August 9, 2019 Diana Olick Mortgage interest rates have been falling since May, especially sharply this month, so borrowers, especially millennials, are rushing to refinance. Applications to refinance were up a stunning 116% this week compared with a year ago, according to the Mortgage Bankers Association. That has lenders scrambling to keep up. Quicken Loans,…

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Another Great Closing at Mid-Island Mortgage

Another Great Closing at Mid-Island Mortgage: The Udedibia family are now first-time homeowners thanks to the work of Stephanie Santoro (center, left), VP, Sales, for Mid-Island Mortgage. Stephanie provided the perfect mortgage for their purchase in Uniondale, NY. Also playing key roles were the Udedibias’ realtors, Lisa O’Donnell (left of Stephanie) and Anita Watterson (back).

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NEWS: As Mortgage-Interest Deduction Vanishes, Housing Market Offers a Shrug

August 4, 2019 By Jim Tankersley and Ben Casselman PLAINFIELD, Ill. — The mortgage-interest deduction, a beloved tax break bound tightly to the American dream of homeownership, once seemed politically invincible. Then it nearly vanished in middle-class neighborhoods across the country, and it appears that hardly anyone noticed. In places like Plainfield, a southwestern outpost in the area…

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NEWS: Housing Market Shift May Mean Price Cuts

August 2, 2019 by Lew Sichelman The housing market is definitely changing. Maybe not everywhere, at least not yet. But in most places, sellers are slowly losing their dominance and buyers are taking control. The evidence is strong: Instances of multiple offers on the same property have fallen drastically, more buyers are holding out for…

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