Refinancing has been such a major factor in the mortgage industry this past year. With mortgage rates low and home prices high, it’s the perfect situation for homeowners to refinance their mortgage loans. Most recently, we’ve seen the effects of the coronavirus in the financial markets. It has hurt the 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 →
If you remember your history lessons, you may remember hearing about the Black Death plague that devastated Europe in the 14th century. We know about how much it affected the world’s population, but most people never thought about this period in history in terms of mortgage rates—at least not until now. Continue Reading →
Last year, we saw how the trade war with China had a significant impact on all United States financial markets, including the mortgage market and its interest rates. That situation actually helped mortgage rates remained relatively low in 2019. By the end of the year, we were experiencing nearly historic Continue Reading →
