Borrowing costs moved lower this week. But most economists aren’t predicting the trajectory to continue.This marked the first time in 10 weeks that mortgage rates moved lower, Freddie Mac reports."The 30-year mortgage rate fell this week for the first time since the presidential election, dropping 12 basis points to 4.20 percent,” says Sean Becketti, Freddie Mac’s chief economist. “This marks the first time since 2014 that mortgage rates
A new mortgage fraud scheme is taking a reverse approach to traditional occupancy scams. In the past, prospective investors have claimed they intend to take owner occupancy. Then, they are able to qualify for a better interest rate, lower fees, a smaller down payment, or higher loan amount than if they applied for a mortgage as an investor.But CoreLogic analyst Willa Wei is sounding the alarm on the growing incidence of a “reverse occupancy sch
Here’s a sobering stat: 80 percent of us fail to achieve our New Year’s goals by week two of February, according to clinical psychologist Joseph J. Luciani.Unless you can back your resolutions up with the “capacity to either sustain motivation or handle the inevitable stress and discomfort involved in change,” you’re doomed to fail, Luciani says.That also may mean being in the right place to effect change. WalletHub researchers crunched
Home prices nationwide, including distressed sales, rose year over year by 7.1 percent in November 2016 compared to November 2015, CoreLogic’s Home Price Index shows.Expect more price jumps ahead too, although at a more modest pace. Home prices likely will increase by 4.7 percent on a year-over-year basis from November 2016 to November 2017, according to CoreLogic’s forecasts.“Last summer’s very low mortgage rates sparked demand, and with
Mortgage application volume dropped sharply over the holidays, despite a drop in mortgage rates at the end of the year. Loan applications fell 12 percent for the week ending Dec. 30, 2016, on a seasonally adjusted basis compared to two weeks earlier, the Mortgage Bankers Association reported Wednesday. (The MBA did not report weekly volume last week.)"As mortgage rates continued their upward climb reaching the highest levels in more than two year
This website includes images sourced from third party websites including Adobe, Getty Images, and as otherwise noted.
