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April 14, 2021

Mortgage

Mortgage refinance demand hits lowest level in over a year, and homebuyers retreat, too

CNBC Real Estate
People wait to visit a house for sale in Garden City, Nassau County, New York, on Sept. 6, 2020. Xinhua News Agency | Getty Images It was a mixed week for rates, which started high and then fell slightly, but the damage was done early. Total mortgage application volume decreased......

Kane Brown Coming to Rocket Mortgage FieldHouse in November

ClevelandScene
click to enlarge Matthew Berinato Country superstar Kane Brown. Country singer Kane Brown has just announced his headlining Blessed & Free tour that’ll visit all 29 NBA basketball arenas throughout 2021 and 2022, making him the first country artist in history to headline every NBA basketball arena on a single......

Update: Rage Against the Machine Again Postpones Reunion Tour, Including Rocket Mortgage FieldHouse Date

ClevelandScene
click to enlarge Jon Lichtenberg RATM”s Tom Morello performing at the Agora in 2016. Update: Fans of Rage Against the Machine will have to wait until 2022 to see the reunited band’s tour come to the Cleveland. For the second time, the group has rescheduled its entire tour, which originally......

SoftBank invests $500 million in digital mortgage lender Better.com

CNBC Real Estate
Pedestrians wearing protective masks walk past signage for SoftBank Corp. near a store in Tokyo, Japan, on May 15, 2020. Kiyoshi Ota | Bloomberg | Getty Images SoftBank has invested $500 million in digital mortgage lender Better.com amid what has been a hot U.S. residential real estate and mortgage refinancing market......

Mortgage refinance demand drops 20% as rates rise to 10-month high

CNBC Real Estate
Mortgage rates moved higher again last week, causing homeowners and potential homebuyers to pull back on borrowing. Overall mortgage application volume decreased 5.1% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250......

Consumer protection group cracks down on mortgage servicers that don’t assist struggling homeowners

CNBC Real Estate
Andrew Harrer | Bloomberg | Getty Images The Consumer Financial Protection Bureau is warning mortgage servicers that they’re expected to help the surge of struggling homeowners in the pandemic and explore options other than foreclosure. “Responsible servicers should be preparing now,” CFPB Acting Director Dave Uejio said in a statement.......

Feds propose banning foreclosures across U.S. until 2022

CBS News
CBS News – For more and to sign up click here With millions of U.S. homeowners behind on their mortgages after the coronvirus pandemic slammed the economy, the Consumer Financial Protection Bureau is proposing banning foreclosures until next year. Many families face the risk of foreclosure when federal emergency protections expire, the......

A slight drop in mortgage rates didn’t stop the bleeding in refinances

CNBC
CNBC – For more and to sign up click here A sign advertising an open house in Corona Del Mar, California. Scott Mlyn | CNBC Higher mortgage rates are hitting the refinance market hard and may finally be taking their toll on homebuyers. Mortgage application volume fell 2.2% last week......

United Wholesale Mortgage says its crosstown war with Quicken Loans is paying off

CNBC Real Estate
The CEO of United Wholesale Mortgage on Wednesday defended a recent controversial move in a crosstown battle with rival Quicken Loans. UWM earlier this month said it would no longer work with any mortgage brokers who also conducted business with Quicken and another competitor, Fairway Independent Mortgage in Wisconsin. “I......

Homebuyer mortgage demand inches higher, but rates hit highest level since summer

CNBC Real Estate
A worker walks on the roof of a new home under construction in Carlsbad, California. Mike Blake | Reuters Higher mortgage rates do not appear to be dampening demand for home purchases but are crimping refinance volume. Mortgage applications to purchase a home rose 3% last week from the previous......

Mortgage rates just moved sharply higher, but homebuyer competition is fiercer than ever

CNBC
CNBC – For more and to sign up click here vitapix | E+ | Getty Images Mortgage rates bounced higher again this week, making homebuying even more expensive at the start of the all-important spring market. With home prices skyrocketing, any rise in rates knocks even more potential buyers out......

Mortgage refinance demand tanks 39% as rates continue to climb

CNBC
CNBC – For more and to sign up click here A house’s real estate for sale sign shows the home as being “Under Contract” in Washington, DC, November 19, 2020. Saul Loeb | AFP | Getty Images Higher mortgage rates are cutting into demand for refinances, as fewer and fewer......

Rocket Mortgage sponsorship gives MSU men’s basketball a new name

Detriot News
Detroit News – For more and to sign up click here Michigan State University men’s basketball team will soon be known as “MSU Spartans Presented by Rocket Mortgage” after a new five-year sponsorship deal with the Detroit-based mortgage lender was unveiled Thursday. The financial terms of the sponsorship were not disclosed, but......

Mortgage refinance demand plunges 43% from a year ago, as higher interest rates take their toll on borrowers

CNBC Real Estate
A house’s real estate for sale sign is seen in front of a home in Arlington, Virginia, November 19, 2020. Saul Loeb | AFP | Getty Images The recent sharp rise in interest rates is now taking a toll on mortgage refinance demand, as the number of borrowers who could......

What to Look for in a New House This Home Buying Season – Home

@BreaknNews
(NewsUSA) – Sponsored News – Mortgage rates have remained low, and home prices are stable or rising in most communities. A September 2015 poll by NeighborWorks America discovered that nearly 90 percent of consumers consider home ownership at least somewhat important. Guarantee your home ownership success by following these guidelines......

How to Afford a Pricier House in the Neighborhood You Love – Home

@BreaknNews
(NewsUSA) – When Danielle and Jimmy returned to their home state after three years in Germany, they spent the next six months looking for their first home. “Location was so important to us. We got used to walking everywhere while we were in Germany. Grocery stores, restaurants, beer gardens and......

Smart Millennial Uses Down Payment Assistance for New Home – Home

@BreaknNews
(NewsUSA) – Until this summer, Matt Berna had an unusual tradition: Every year, he moved to a new apartment. After doing this for 9 years, the 27-year-old inside sales professional decided enough was enough. “Yeah, I’ve been moving since I was 18,” says Matt, “and I was getting sick of......

LGI Homes CEO expects housing demand to remain strong even as mortgage rates tick up

CNBC
CNBC – For more and to sign up click here LGI Homes Chairman and CEO Eric Lipar told CNBC on Friday he believes housing demand will remain robust even in the face of rising mortgage rates. A day earlier, Freddie Mac reported the 30-year fixed-rate mortgage reached its highest level......

One Small House in Boise, One Big Step in Homeownership – Home

@BreaknNews
(NewsUSA) – There came a point in Meghanne’s 29-year-old life when she decided it was time to “be an adult and buy a house.” And as a loan officer, she wanted to practice what she preached about investing in homeownership. Then again, living on a dairy farm near Boise, Idaho,......

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