Category: Blog
Credit Checks: How Credit Report Inquiries Affect Your Credit Score
Will my FICO Scores drop if I apply for new credit? If you apply for several credit cards within a short period of time, multiple inquiries will appear on your report. Looking for new credit can equate with higher risk, but most Credit Scores are not aff
Small Banks and CUs Adjusted Well to CFPB Mortgage Rules: GAO
National Mortgage News reports that new Consumer Financial Protection Bureau rules may increase compliance costs and cause a shift with the community lenders to leave the mortgage business. However, a watchdog report found that smaller organizations have remained active. Monday, a Government Accountability Office
MBS Day Ahead: Every NFP Week is Important Until Fed Hike (or Lack Thereof)
Back in 2015–almost exactly a year ago, actually–the order of the day was determining the timing of the Fed’s first rate hike since the financial crisis. By late October, we knew the hike was finally coming in December. Investors figured the Fed would deliver the news in a
Inventory and Appraisal Issues Complicate Existing Sales
“Frustratingly low inventory levels in many parts of the country” assume the fault from the National Association of Realtors® (NAR) for a drop in July existing home deals, the first loss following four straight months of gains. Resales of single-family homes, townhomes, condominiums, and com
Mortgage Rates Rise Slightly on Strong Jobs Report: Freddie Mac
Mortgage rates were little changed from the previous week as they rose two basis points on better-than-expected economic news, according to Freddie Mac. The 30-year fixed-rate mortgage averaged 3.45% for the week ending Aug. 11, up from last weekwhen it averaged 3.43%. A year ago at this time, the 30-year fixed-r
Resurgence of PMI Could Force FHA to Cut Premiums
In last month’s Housing Finance Chartbook the Urban Institute showed how a recent surge in issuance of private mortgage insurance (PMI) had come at the expense of the Federal Housing Administration’s (FHA’s) Mortgage Insurance Fund (MIF). PMI grew from a 33 percent share of the market in Quarter
Mortgage Rates Near 2-Month Lows
Mortgage Rates maintained their recent winning streak today, falling for the 5th straight day. The average lender is now offering the best rates in nearly 2 months. You’d have to go back early August or late July. It depends on the lender to see a better combination of rate and upfront cost. This raises a c
MBS Day Ahead: Are Bond Markets Reading From Same Scary Script?
There are no significant economic reports or scheduled events on tap for today. This will give us an opportunity to feel out the new trading ideas, not only for the rest of the week (which ends with Friday’s NFP), but for the month of October in general. It turns out that October is historic
‘Massive’ shortage of appraisers causing home sales delays
Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers. That is causing growing delays in closings,
1 in 10 borrowers may be missing out on mortgage savings
The average rate on the popular 30-year fixed mortgage has been so low for so long that a good chunk of borrowers can't even contemplate the idea of it ever going higher. Why should they? Every time we warn of rising rates, or see a tiny bump up, some global economic tantrum pushes them back down. Most borrowers
Long-Gone Mortgage Trends, Ideas Could Make Comeback in 2017
2017 looks to be trending in a direction you will want to watch closely. This article claims that some of the debt cycles may be creeping back into the market. Take a look and decide what you think but still a great time to buy or refi before any major market shifts. Everything old is new again in the mortgage i
Archived 1% Down Loan Promotion
Archived promotion: This page is an archive of a former NorthStar Funding promotion in which the borrower contributed 1% and NorthStar contributed 2%. That promotion is no longer available. Its prior eligibility and mortgage-insurance terms are historical and should not be used to plan a new loan. Review current