What to Expect From Rising Interest Rates

In December, the Federal Reserve raised the federal-funds lending rate by .25%, only the second increase in the past decade. The day the rate hike was announced I received several calls from journalists, all wanting to know what this means for the economy. My email inbox also started filling up Read More

HUD Lowers FHA Premiums, Combatting Higher Rates

Housing and Urban Development (HUD) Secretary Julian Castro announced on Monday that the Federal Housing Administration (FHA) will reduce annual insurance premiums by 25 basis points. The move affects most new mortgages with a closing or disbursement date on or after 1/27. The HUD expects these new rates to save Read More

How to Whip Your Credit Into Shape Before Buying a Home

Mortgage interest rates have dominated the news lately, but there’s another aspect of buying a home people shouldn’t forget about: credit scores. It’s one of those things many individuals don’t even think about it until it’s time to make a big purchase. But a poor credit score can be a Read More

Has the Millennial Homebuying Wave Arrived?

Home builder sentiment posted a strong score of 63 on the Wells Fargo/NAHB’s Sentiment Index for October. This was a two-point slip compared to September, but September was a five-point surge over August. The bottom line is that builders remain overwhelmingly optimistic, and they are even more optimistic about future Read More

What the Presidential Election Means for Housing, Historically and Today

From now until November, the one topic on everyone’s mind nationwide is the impending presidential election. This election in particular remains extremely divisive, with seemingly unprecedented amounts of animosity and rhetoric being bandied about on both sides of the aisles. But does this political contest have an impact on real Read More

Balancing Your Expenses: What a Debt-to-Income Ratio Means for a Mortgage

One important consideration that a lender takes into account when deciding whether to approve a borrower for a mortgage or a mortgage refinance is their debt-to-income ratio. This small ratio, buried among all the other percentages and numbers in an application, is often a key deciding factor – even more so than credit scores and savings. Read More

Lenders & Borrowers Feeling Positive About Housing Market

Two recently released studies paint an optimistic picture of both buyer and lender confidence in the housing market. The first is Fannie Mae’s second quarter 2016 Mortgage Lender Sentiment Survey, which consulted with a broad selection of lenders to glean insight into what they think of the current market. “Lenders reported demand Read More

What compensating factors help get buyers qualified outside of FICO scores?

Your FICO credit score is an important element of qualifying for a mortgage – but maybe less important than you think. While lenders traditionally look to a high credit score as in indicator of a responsible borrower, this has started changing in recent years. There are other factors that may qualify a person Read More

Why Non-Bank Lenders are the Future of Mortgages

Where is the US economy going? Who will win March Madness? Will it rain next week? There are hardly any topics on which we all collectively agree—which makes it exciting to report that we all seem to agree that non-bank lenders are the future of mortgages. In 2013, Bloomberg Business Read More