Mortgage rates are on the rise in 2022. If you still want to pull some cash out of your home, here are your options. For many homeowners, the pandemic offered an unprecedented opportunity to build wealth. Those opportunities still exist, even though they are getting harder to come by. Thanks to skyrocketing housing prices, the…

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Mortgage requirements are loosening for home buyers

Mortgage Requirements Poster

There’s good news for home buyers: It’s finally getting easier to get a mortgage loan. After tightening their lending standards during the pandemic, it seems mortgage lenders are starting to loosen the reins a bit. In fact, according to the Mortgage Bankers Association, mortgages were about 2.2% easier to come by in April than in March.…

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With mortgage rates under 3%, homeowners race to refinance

Mortage Rate Poster

Mortgage rates below 3% have brought homeowners stampeding back to the refinance market. A sharp rise in refi demand is driving an increase in overall mortgage applications, a new report shows. Refinancing to take advantage of mortgage rates that remain far below historical averages can be a smart play. Because with the economy recovering and over 116…

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Here’s how to fix the housing market inventory crisis

Housing Market Inventory Crisis

Incentivizing current owners to sell is key The U.S. housing market is in the midst of an inventory crisis. The number of homes for sale in the U.S. is hovering near record lows, caused by a pandemic-induced housing inventory death-spiral. At the same time, home sales have soared close to record highs, suggesting the housing market suffers…

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Despite Price Spikes, Homeownership Remains Affordable

Homeownership Remains Affordable

Two reports—from ATTOM Data Solutions, Irvine, Calif., and First American Financial Corp., Santa Ana, Calif.—say despite sharp spikes in home prices, homeownership remains affordable for most workers, which continues to drive housing demand. ATTOM released its first-quarter 2021 U.S. Home Affordability Report, showing median home prices of single-family homes and condos in the first quarter…

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2021 Housing Market ‘Red Hot’

Housing Market

The past year has been like no other, housing-wise. Near-record-low interest rates, tight housing supplies and greater flexibility in where one lives have pushed a normally predictable housing cycle into uncharted territory, as three new housing reports show. RE/MAX: Winter Months Leave Buyers Undeterred RE/MAX, Denver, said its National Housing Report for January saw home sales jump…

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Mortgage Lending Standards Loosened Last Month

Mortgage Lending Standards

Lending standards overall loosened during January, the Mortgage Credit Availability Index (MCAI) from Mortgage Bankers Association (MBA) and Ellie Mae indicates. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The MCAI is calculated using several factors related to borrower eligibility (credit score,…

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Housing Sentiment Builds As Conditions Favor Sellers

Housing Sentiment

Fannie Mae‘s Housing Purchase Sentiment Index increased to 77.7 in January 2021, a 3.7 point increase from December 2020. This is especially true for sellers as the home-selling conditions component increases 16%. “The HPSI experienced a modest uptick in January, reversing much of December’s decline,” said Doug Duncan, Fannie Mae senior vice president and chief…

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This is the best time of year to get a mortgage

Best Time Of Year for Mortage

A new study shows that home buyers can save a lot of money by timing their mortgage application right. If you’re playing the waiting game with mortgage rates, you may not want to wait much longer. A new study from Haus, the home-finance startup created by Uber UBER, +5.36% co-founder Garrett Camp, examined what role seasonality, loan size, credit…

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