Mortgage Industry Insight
What You Need to Know About Non-QM Loans
The term “Non-Qualifying Mortgage” or Non-QM can sound intimidating. At its most basic level, a Non-QM loan is a loan that does not meet the standards set forth in regulatory reform imposed after the 2008 housing crisis. Below we take a closer look at what this really means in terms of risks and benefits for both consumers and lenders.
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3 Tips To Help Home Affordability When Rates Rise
So far the Fed has increased its benchmark rate three times since the financial crisis as they track economic improvement and attempt to maximize employment and stabilize inflation. If the economy continues to improve, and economic data remains positive, another increase could come as soon as May or June. While consumers with credit card debt may see an immediate increase in interest rates as a result of the Fed’s rate increases, the effect on longer term mortgage loans will be less direct, but still impactful. As RPM’s Julian Hebron explains in an article on Zillow “Even though mortgage bonds represent longer-term rates, these Fed hikes still fuel selling of mortgage bonds, pushing mortgage rates higher.”
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Things to Know When Purchasing a Condo
Is Buying Down Your Rate Right For You?
Rates began ticking up in the wake of the election and the upward trend is expected to continue, albeit at a slower pace compared to the first few post-election months. If you are currently in the market for a home, you may be concerned about battling increasing prices and upward trending rates. But, you could have the option to tackle affordability by buying down your rate.
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Key Economic Indicators that Affect Mortgage Interest Rates: Housing Reports
First-time homeowners are often younger than the average homebuyer, which means lower income levels, less money saved and, typically, more student loan debt. Concerns about student loans often discourage would-be first-time buyers from pursuing their goal of homeownership. If you’re considering purchasing your first home, these tips can help get you there.
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Key Economic Indicators that Affect Mortgage Interest Rates: The Employment Situation
Key Economic Indicators that Affect Mortgage Interest Rates: Consumer Behaviors
Is it Time to Adjust Your Second Mortgage?
What Rising Rates Mean For Home Buyers and Owners As 2017 Approaches
As 2016 draws to a close, it’s a good time to reflect and look ahead to what 2017 may bring. The Trump Administration’s plans to cut taxes and prioritize spending on infrastructure have already started to impact the housing market and mortgage marketplace. Many of the trends we’re already seeing at the end of this year are expected to continue to affect home financing in 2017. Let’s take a look:
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