So many homeowners have pressing mortgage questions right now. They want to know their mortgage options. People are losing their jobs, even if some might only be on a temporary basis. The country has seen record highs in unemployment applications, with California being one of the hardest-hit states economically. Meanwhile, Continue Reading →
As is often the case when the stock market takes a dip, mortgage rates were actually affected in a good way. The average 30-year fixed mortgage rate went down slightly as the market has reacted to the coronavirus outbreak. Of course, what’s happening with this deadly virus is terrifying as Continue Reading →
Many of the country’s top lenders and financial associations have been pressuring the Consumer Financial Protection Bureau (CFPB). They have been asking to eliminate the strict debt-to-income (DTI) ratio requirement that is currently part of the Ability to Repay/Qualified Mortgage (QM) rule. What Are the Current DTI Requirements? Mortgage loan Continue Reading →
The Federal Reserve has had a dramatic year. The U.S. Central Bank announced Wednesday that it will not be changing interest rates again this year, and it looks like they might hold steady in 2020, as well. Fed Rate Changes in 2019 The federal funds rate was raised nine times Continue Reading →
As we get closer to the new year, one thing we always want to take a look at is conforming loan limits. Every year since 2016, the Federal Housing Finance Agency (FHFA) has raised the maximum conforming loan limits on Fannie Mae and Freddie Mac backed mortgage loans. Record Highs Continue Reading →
