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One of the Top Reasons to Own a Home

One of the benefits of homeownership is that it is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and […]

What Buyers Need to Know About HOAs

When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you. According to a recent article on realtor.com, “In a nutshell, an HOA helps ensure that your community looks […]

Home Prices Increase in Every Price Range

Price appreciation can differ depending on your price range. CoreLogic analyzed four individual home prices tiers and shares the increase in each one. CoreLogic’s Home Price Index (HPI) Report revealed, “National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.” They also […]

Things to Avoid After Applying for a Mortgage

Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how […]

6 Graphs Showing the Strength of the Current Housing Market [INFOGRAPHIC]

Some Highlights: Keeping an eye on the current status of the housing market is one of the best ways to make powerful and confident decisions when buying or selling a home. Mortgage rates remaining near historic lows and houses selling in an average of only 29 days are just two key elements driving the strength […]

What Is the Probability That Home Values Sink?

With the current uncertainty about the economy triggered by a potential trade war, some people are waiting to purchase their first home or move-up to their dream house because they think or hope home prices will drop over the next few years. However, the experts disagree with this perspective. Here is a table showing the […]

Millennial Buying Power Poised to Boost Homeownership

In a recent article by Realtor Magazine, Mark Fleming, Chief Economist of First American Financial Corporation, notes, “The largest group of millennials by birth year will turn 30 in 2020, which puts them entering their prime homebuying years”. The article continues to describe how millennials have more buying-power than the generations that preceded them, making […]

The Role Access Plays in Getting Your House Sold

So, you’ve decided to sell your house. You’ve hired a real estate professional to help you with the entire process and you’ve been asked what level of access you want to provide to potential buyers. There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, […]

Home Sales Expected to Continue Increasing In 2020

Freddie Mac, Fannie Mae, and the Mortgage Bankers Association are all projecting home sales will increase nicely in 2020. Below is a chart depicting the projections of each entity for 2019, as well as for 2020.As we can see, Freddie Mac, Fannie Mae, and the Mortgage Bankers Association all believe homes sales will increase steadily over the next year. If you’re a homeowner who has considered […]

Everybody Calm Down! This Is NOT 2008

Last week realtor.com released the results of a survey that produced three major revelations: 53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next. 57% believe the next recession will be as bad or worse than 2008. 55% said they would cancel plans to […]

How Property Taxes Can Impact Your Mortgage Payment

When buying a home, taxes are one of the expenses that can make a significant difference in your monthly payment. Do you know how much you might pay for property taxes in your state or local area? When applying for a mortgage, you’ll see one of two acronyms in your paperwork – P&I or PITI […]

Homeownership Will Always Be a Part of the American Dream

On Labor Day we celebrate the hard work that helps us achieve the American Dream. Growing up, many of us thought about our future lives with great ambition. We drew pictures of what jobs we wanted to have and where we would live as a representation of a secure life for ourselves and our families. […]

A Recession Does Not Equal a Housing Crisis [INFOGRAPHIC]

Some Highlights: There is plenty of talk in the media about a pending economic slowdown. The good news is, home values actually increased in 3 of the last 5 U.S. recessions, and decreased by less than 2% in the 4th. Many experts predict a potential recession is on the horizon. However, housing will not be […]

iBuyers: What Is the “Cost of Convenience” When Selling Your Home?

When thinking about selling their house, homeowners have many options. A relatively new option is using an “iBuyer.” What is an iBuyer? According to Jovio, the definition is: “A company or investor that uses Automated Valuation Models (AVMs) to make instant offers on homes. It allows sellers to close on a property quickly. Once sold, […]

Top Priorities When Moving with Kids

According to the Pew Research Center, around 37% of U.S students will be going back to school soon and the rest have already started the new academic year. With school-aged children in your home, buying or selling a house can take on a whole different approach when it comes to finding the right size, location, […]

What’s the Latest on Interest Rates?

Mortgage rates have fallen by over a full percentage point since Q4 of 2018, settling at near-historic lows. This is big news for buyers looking to get more for their money in the current housing market. According to Freddie Mac’s Primary Mortgage Market Survey, “the 30-year fixed-rate mortgage (FRM) rate averaged 3.60 percent, the lowest it […]

Experts Predict a Strong Housing Market for the Rest of 2019

We’re in the back half of the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the predictions are for the remainder of 2019. Here’s what some of the experts have to say: Ralph McLaughlin, Deputy Chief Economist for CoreLogic “We see the cooldown […]

A Latte a Day Keeps Homeownership Away [INFOGRAPHIC]

Some Highlights: The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast! Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a […]

5 Easy Steps to Avoid Overwhelm from Media Overload

When someone is thinking about buying or selling a home, they want to be well-informed. They want to make the right decision for themselves and their family. They scour the internet for any information they can find about the housing market. Today, there is an abundance of information available. It is often conflicting news. It […]

Seniors Are on the Move in the Real Estate Market

Did you know August 21st is National Senior Citizens Day? According to the United States Census, we honor senior citizens today because,  “Throughout our history, older people have achieved much for our families, our communities, and our country. That remains true today and gives us ample reason…to reserve a special day in honor of the […]

Housing Supply Not Keeping Up with Population Increase

Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up. The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in […]

A Great Way to Increase Your Family’s Net Worth

Every three years, the Federal Reserve conducts its Survey of Consumer Finances. Data is collected across all economic and social groups. The latest survey data covers 2013-2016. The study revealed that the median net worth of a homeowner is $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased […]

Buying a Home: Do You Know the Lingo? [INFOGRAPHIC]

Some Highlights: Buying a home can be intimidating if you’re not familiar with the terms used throughout the process. To point you in the right direction, here’s a list of some of the most common language you’ll hear when buying a home. The best way to ensure your home-buying process is a positive one is […]

Busting the Myth About a Housing Affordability Crisis

It seems you can’t find a headline with the term “housing affordability” without the word “crisis” attached to it. That’s because some only consider the fact that residential real estate prices have continued to appreciate. However, we must realize it’s not just the price of a home that matters, but the price relative to a […]

The Benefits of Growing Equity in Your Home

Over the last couple of years, we’ve heard quite a bit about rising home prices. Today, expert projections still forecast continued growth, just at a slower pace. One of the often-overlooked benefits of rising home prices is the positive impact they have on home equity. Let’s break down three ways this is a win for […]

American Confidence in Housing at an All-Time High

Fannie Mae just released the July edition of their Home Purchase Sentiment Index (HPSI). The HPSI takes information regarding consumers’ confidence in the real estate market from Fannie Mae’s National Housing Survey and condenses it into a single number. Therefore, the HPSI reflects consumers’ current views and forward-looking expectations of housing market conditions. Great News! […]

Rent Vs. Own [INFOGRAPHIC]

Some Highlights: Owning your own home vs. renting may lead to some great options, such as locking in your monthly payments and having the freedom to customize your living space. Whether you rent or own, you have to cover someone’s mortgage costs. You may as well be doing so to build your own wealth, rather […]

Why All the Chicken Littles Should Calm Down

The U.S. Census Bureau recently released their 2019 Q2 Homeownership Report. Some began to see the sky falling, believing the report showed Americans may be stepping back from their belief in homeownership. The national homeownership rate (Americans who owned vs. rented their primary residence) increased significantly during the housing boom, reaching its peak of 69.2% […]

Appreciation Is Strong: It Might Be Time to Sell

There’s no doubt that today’s housing market is changing, and everything we see right now indicates it is time to sell. Here’s a look at why selling now is likely to drive the greatest return on your largest investment. Home values have been appreciating for several years now, growing at a strong, steady, and impressive […]

How Much Do You Know About Down Payments?

Whether you’ve owned a home before, or you’re ready to jump into homeownership for the first time, there are always a lot of questions swirling around about what is truly required for a down payment, and how to best source down payment assistance. Let’s tackle these two today. 1. How much do you really need […]

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MBS RECAP: Friendly Confluence of Events Helps Bond Markets Repair Some Damage

Posted To: MBS Commentary Last week brought the pain. It was the worst single week for the bond market (if we count MBS) since 2013. Although this week won't break any records, it was a refreshing change of pace, with almost every day seeing decent improvement. Today's gains were the best, but also the most […]

Homeowner Equity Reaches All-Time High in Q2; Rates End Week Near Best Levels

Total home equity, not surprisingly, increased again in the second quarter of the year. CoreLogic’s quarterly Homeowner Equity Insights report, which looks only at properties with one or more mortgages, puts the aggregate increase at $428 billion year-over-year, a 4.8 percent gain. The company says that 63 percent of residential properties have a mortgage. “Home […]

Fed's Powell has mastered art of saying nothing: WSJ's Greg Ip

(Please visit the site to view this media) Greg Ip, the Wall Street Journal, join 'The Exchange' to discuss Jerome Powell's comments on the Fed's decision to cut interest rates. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Fed's Powell has […]

Fed to conduct daily repo operations through Oct. 10

(Please visit the site to view this media) CNBC's Steve Liesman reports on new repo operations from the Fed and comments from the Fed's Eric Rosengren. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Fed to conduct daily repo operations through […]

Homeowner Equity Reaches All-Time High in Q2

Posted To: MND NewsWire Total home equity, not surprisingly, increased again in the second quarter of the year. CoreLogic’s quarterly Homeowner Equity Insights report, which looks only at properties with one or more mortgages, puts the aggregate increase at $428 billion year-over-year, a 4.8 percent gain. The company says that 63 percent of residential properties […]

MBS Day Ahead: Bonds Just Hoping for an Orderly Escape; Bigger Decisions on Hold

Posted To: MBS Commentary In the day just passed, bonds trading was exceptionally calm in the wake of Wednesday's Fed day. As I mentioned in the recap , it was one of the least volatile moves relative to expectations of any Fed day reaction I can remember. The consolidative vibes suggest either indecision or apathy, […]

The Fed is trying to prevent a slowdown, CIO says

(Please visit the site to view this media) Omar Aguilar, chief investment officer of equities and multi-asset strategies at Charles Schwab Investment Management, Paul Hickey, founder of Bespoke Investment Group, and CNBC markets commentator Mike Santoli, join "Squawk Box" to discuss what they are watching in the markets. …(read more) Forward this article via email:  Send […]

Fraud, Broker, and LO Products; Correspondent/Wholesale Changes

Posted To: Pipeline Press A mile is 5,280 feet. And Central Park Tower on West 57th St. in Manhattan now stands at 1,550 feet, about a third of a mile. I mention this because it is now the tallest residential building in the world , and if you’d like to pony up $6.9 million for […]

Rates Move Lower for Eighth Consecutive Month, Driving Refis

Posted To: MND NewsWire Thirty-year mortgage loans closed in August carried an average interest rate of 4.07 percent according to Ellie Mae’s Origination Insight Report. Rates were down for the eighth consecutive month , easing back from an average of 4.18 percent in July. Ellie Mae said the month-over-month decline in rates continues to drive […]

More investors are doubting another rate cut in 2019, strategist says

(Please visit the site to view this media) Simeon Hyman, global investment strategist at ProShares Advisors, Gabriela Santos, global markets strategist at J.P. Morgan Funds, and Paul Hickey, founder of Bespoke Investment Group, join "Squawk Box" to discuss what they are watching in the markets following the Fed's decision to cut rates by a quarter […]

2018's Housing Slump Now Fully Erased; Fannie Upbeat on Construction; Think The Fed Cut Mortgage Rates?

Here is exactly what yesterday’s Fed rate cut did to mortgage rates: ABSOLUTELY NOTHING! No Fed rate cut (or hike) will EVER do ANYTHING directly to mortgage rates because the Fed doesn’t set mortgage rates. Don’t let the caps-lock fool you into thinking I’m some angry guy with a keyboard who’s simply ranting for some […]

MBS RECAP: Indecisive, Sideways Trading After Fed Day

Posted To: MBS Commentary Relative to the expectation for yesterday's Fed events to cause volatility, the movement we've seen in the bond market has been fairly pitiful in response. Seriously folks… I can't think of a bigger gap between they hype and the outcome with respect to Fed days. Today was merely "The Anticlimax: Part […]

Think The Fed Cut Mortgage Rates? Think Again

Posted To: Mortgage Rate Watch Here is exactly what yesterday’s Fed rate cut did to mortgage rates: ABSOLUTELY NOTHING! No Fed rate cut (or hike) will EVER do ANYTHING directly to mortgage rates because the Fed doesn’t set mortgage rates. Don’t let the caps-lock fool you into thinking I’m some angry guy with a keyboard […]

The Fed came across as less dovish than the market hoped: Wells Fargo's Michael Schumacher

(Please visit the site to view this media) Michael Schumacher, Wells Fargo Securities global head of rate strategy, and John Spallanzani, Miller Value Partners, join 'The Exchange' to discuss what will move markets following the Fed rate cut. …(read more) Forward this article via email:  Send a copy of this story to someone you know that […]

2018's Home Sales Slump Now Fully Erased

Posted To: MND NewsWire While the increase wasn’t as strong as in July, last month’s existing home sales posted a second straight month of gains and, as previously, the National Association of Realtors® (NAR) credited falling interest rates. Sales of previously owned single-family houses, townhouses, condominiums, and cooperative apartments were up 1.3 percent compared to […]

Existing home sales at their fastest pace since March 2018

(Please visit the site to view this media) CNBC's Diana Olick reports on new existing home sales data for August, which show sales at a 17-month high. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Existing home sales at their fastest […]

Fed conducts repo operation for a third day

(Please visit the site to view this media) In another round of liquidity injection, the Federal Reserve announced results of its auction as it seeks to control the level of its benchmark interest rate. CNBC's Steve Liesman reports. …(read more) Forward this article via email:  Send a copy of this story to someone you know that […]

MBS Day Ahead: Bonds Set to Battle Potentially Important Level

Posted To: MBS Commentary In the day just passed, the bond market finally got a chance to sink its teeth into the much-anticipated Fed announcement/forecasts/press conference. Traders were hoping to get a read on whether the Fed rate cut cycle is being treated like a fine-tuning adjustment or the beginning of a sustained shift. Of […]

Originator, Servicing, Correspondent Products; Why Extensions Cost Money

Posted To: Pipeline Press The residential lending industry continues to evolve. Lenders are coming and going, moving in and out of business channels. (The latest example being Union Bank, as UBOC is rumored to be in the process of reducing its overall approved broker client base and focusing on deposit relationships). And lenders still report […]

Fannie Mae Turns Bullish on Construction, Best Levels Since May

Posted To: MND NewsWire Fannie Mae says consumer spending will continue to support the economy. The company’s Economic Summary for September cites increases in auto and retail sales, real disposable personal income, and real personal consumption expenditures (PCE) as evidence of that strength. In the monthly report, written before release of the very strong census […]

Where Fed officials stand on further easing action

(Please visit the site to view this media) The U.S. central bank joined its global peers as it cuts interest rates for the second time this year. But the outlook is cloudy amid division within its ranks and verbal pressure from the president. CNBC's Steve Liesman reports. …(read more) Forward this article via email:  Send a […]

Fed Cut Doesn't Matter to Mortgages; Construction Numbers Surge

One of the greatest potential sources of confusion for prospective mortgage borrowers is the relationship between the Fed and mortgage rates. While the Fed’s policy changes absolutely have a big impact on all sorts of interest rates (including mortgages), a drop in the Fed’s policy rate DOES NOT result in lower mortgage rates. In fact, […]

MBS RECAP: What Fed Day? This One Was a Dud

Posted To: MBS Commentary As far as Fed days go–especially the kind where we get updated economic projections–today's example was pretty damn uneventful. These things happen from time to time, but this wasn't exactly a day where a "dud" announcement was seen as being very likely. Markets were hungry for clarification on the Fed's rate […]

Here's what five experts have to say about Jerome Powell's speech, Fed's interest rate cut

(Please visit the site to view this media) CNBC's Steve Liesman joins "Closing Bell" with the latest from the Federal Reserve's September meeting, followed by a panel discussion featuring David Zervos, chief market strategist at Jefferies; Paul McCulley, former chief economist at Pimco and senior fellow at Cornell Law School; Diane Swonk, chief economist at […]

HIGHER Mortgage Rates Despite Fed Rate CUT. Here's Why

Posted To: Mortgage Rate Watch One of the greatest potential sources of confusion for prospective mortgage borrowers is the relationship between the Fed and mortgage rates. While the Fed’s policy changes absolutely have a big impact on all sorts of interest rates (including mortgages), a drop in the Fed’s policy rate DOES NOT result in […]

Powell: May need to resume balance sheet growth sooner than expected

(Please visit the site to view this media) Federal Reserve chairman Jerome Powell holds a press conference after the Fed's decision to cut rates by 25 basis points. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Powell: May need to resume […]

Cashin: Looking for a volatile Fed press conference today

(Please visit the site to view this media) CNBC's Bob Pisani and Art Cashin, of UBS, discuss the morning's market activity. …(read more) Forward this article via email:  Send a copy of this story to someone you know that may want to read it. Cashin: Looking for a volatile Fed press conference today Cashin: Looking for […]

Jeffrey Gundlach: The Fed might have to start 'QE-lite'

(Please visit the site to view this media) Doubleline Capital CEO and founder Jeffrey Gundlach joins 'Fast Money Halftime Report' to discuss the Fed rate decision, why he thinks the Fed might have to start doing quantitative easing and if there is a recession risk and his market calls. …(read more) Forward this article via […]

Fed unlikely to cut rates a third time in 2019, says expert

(Please visit the site to view this media) Jason Furman, former Council of Economic Advisers chairman, and CNBC's Steve Liesman join "Squawk on the Street" to discuss the impending Fed rate decision and whether the it is likely to cut rates three times in 2019. …(read more) Forward this article via email:  Send a copy of […]

Housing Permits and Starts Hit Highest Levels in a Year

Posted To: MND NewsWire August turns out to have been among the year’s strongest periods for residential construction. While analysts had expected builders to shake off some of the lethargy that has dogged the industry for most of the year, increasing at least the rate of housing starts. However results exceeded expectations across the board […]