Mortgage News


  • 15-Year Fixed Mortgage Rates Just Hit Record Lows: Should You Consider One?

    While 30-year fixed mortgage rates tend to steal all the headlines, 15-year fixed mortgage rates quietly reached record lows this week as well, per Freddie Mac’s weekly survey. This morning, Freddie announced that the 30-year fixed fell to a new record low 2.65%, down from 2.67% last week. That was the first record low of [&hellip

    The post 15-Year Fixed Mortgage Rates Just Hit Record Lows: Should You Consider One? first appeared on The Truth About Mortgage.

  • You Can Now Request COVID-Related Mortgage Forbearance for Up to 15 Months

    Some good news for homeowners struggling to make ends meet thanks to COVID-19, which as the name implies has been going on for a while now. The Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac, has just announced an extension to the COVID forbearance period, which was previously capped at 360 [&hellip

    The post You Can Now Request COVID-Related Mortgage Forbearance for Up to 15 Months first appeared on The Truth About Mortgage.

  • Real Estate Is Red Hot Because Mortgage Payments Are Still Cheap

    If you’re scratching your head wondering why home prices continue to go up and up, consider the fact that it’s actually cheaper now than it was a year ago. It’s also less expensive to own a home today than it was back in 2019, 2018, 2008, 2007, 2006, 2005, and even during parts of 2004. [&hellip

    The post Real Estate Is Red Hot Because Mortgage Payments Are Still Cheap first appeared on The Truth About Mortgage.

  • Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance

    The Department of Veterans Affairs (VA) has proposed a new loss mitigation method to help homeowners with VA loans in COVID-19 related forbearance get back on track. The new program, known as the COVID-19 Veterans Assistance Partial Claim Payment program, or COVID-VAPCP for kind of shorter, somewhat mirrors existing programs offered by the FHA and [&hellip

    The post Partial Claim May Be Option for VA Borrowers Exiting COVID-19 Forbearance first appeared on The Truth About Mortgage.

  • Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows

    Mortgage rates can be pretty volatile. Just like stocks, they can change daily depending on what’s happening in the economy. Beyond that, mortgage rates can move based on news that doesn’t involve a report on the economic calendar, such as a jobs report, GDP, housing starts, inflation, etc. Even if there isn’t a direct financial [&hellip

    The post Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows first appeared on The Truth About Mortgage.

  • Home Prices Are Expected to Rise Another 10% by Next November

    If you’re an existing homeowner, get excited, very excited. A new forecast from Zillow says home prices are going to rise 10.3% from this November until November 2021. That’s on top of the already stellar growth realized since around 2012, when home prices seemed to bottom and begin their meteoric and historic ascent. Those fortunate [&hellip

    The post Home Prices Are Expected to Rise Another 10% by Next November first appeared on The Truth About Mortgage.

  • United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%

    The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA [&hellip

    The post United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2% first appeared on The Truth About Mortgage.

  • Don’t Freak Out About the Recent Mortgage Rate ‘Spike’

    Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Mac’s weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip

    The post Don’t Freak Out About the Recent Mortgage Rate ‘Spike’ first appeared on The Truth About Mortgage.