There has never been a better time for innovation in the mortgage tech and proptech space with the high-octane U.S. housing market continuing to create new pressures for buyers and sellers. A Seattle-based company called Flyhomes, a startup that launched five years ago, just raised $150 million in Series C funding and has been valued […]
The unprecedented scope of the global coronavirus pandemic, hammering markets worldwide, has left U.S. policymakers with little choice but to take extreme precautionary measures. The Federal Reserve announced Sunday it would slash interest rates to zero, the Washington Post reported. This is the central bank’s most aggressive action since the 2008 financial crisis. There will […]
During the 2008 economic recession and afterwards, “subprime” became a buzzword in general discussions about what led to the housing market crash. That was for good reason. In 2004-2006, the years leading up to the crash saw as many as 20% percent of mortgages national were subprime. Most of them were adjustable rate mortgages from […]
Prior to the economic crash in 2008, U.S. homeowners were doing so-called “cash-out” refinancing at an unprecedented rate. More than 10 years later, these maneuvers are returning to levels not seen since the Great Recession, according to a new study from ReFi Guide. Much of the refinancing seen in 2019 has been in response to […]
The nation’s two biggest mortgage lenders, Fannie Mae and Freddie Mac, will now be able to retain a larger share of their profits as the United States looks to transition them into private control. The Treasury Department and Federal Housing Finance Agency announced Monday that a new letter of agreement aims to boost the capital […]
With mortgage rates fluctuating in an enticingly low range over the past year, it’s natural for many aspiring buyers to consider jumping at the opportunity while it’s there. A 3.6% interest rate on a 30-year fixed rate mortgage carries a lot of appeal, but it shouldn’t cloud a buyer’s judgment when reviewing the fundamental reasons […]
Low mortgage rates in the United States are finally beginning to drive price increases in the housing market. It’s a trend some analysts believe is going to pick up steam over the next year. For months, the low 30-year fixed mortgage rate (now hovering between 3.5% and 3.6%) has been encouraging a boom in refinance […]
As 30-year fixed mortgage rates continue to plummet in the United States, many existing homeowners are taking advantage of the trend by joining the wave of refinancing. Even with larger economic forces raising concerns about the U.S. economy, the housing market continues to broadly offer investment and savings opportunities that haven’t been around since November […]
The surge in mortgage refinancing applications in 2019, led by prolonged falling interest rates in the United States, has work piling up for the mortgage brokers who are processing them. Compared to a year ago this past week, refinancing applications were up an incredible 116%, according to the Mortgage Bankers Association. With the 30-year fixed […]
A welcoming housing market could be in the forecast for a while after Freddie Mac’s July report indicated that low mortgage rates will likely hang around for a while. With 30-year fixed mortgage rates hanging around or below 4% for much of 2019, the economy has seen an uptick in mortgage applications for purchase and […]
