May 20, 2024
Mortgage

Housing Starts and Permits Decline as Mortgage Rates Rise

The housing market continues to be a two-sided coin. Let’s dissect the latest data for April 2024 and unpack its meaning for real estate investors, incorporating the nitty-gritty details to inform your investment strategies. Housing Starts and Permits Fall Short as Mortgage Rates Rise Rising Rates Put Builders on Hold (Building Permits Down) Spiking mortgage

Read More
Mortgage

Revised Mortgage Rate Predictions Signal Higher Rates in 2024

Revised mortgage forecasts for 2024 predict HIGHER rates. Can you still snag your dream home? At the start of 2024, many homebuyers anticipated a dream scenario: falling interest rates leading to a more affordable and accessible housing market. Unfortunately, that dream has faded faster than springtime flowers. As we approach the halfway mark of the

Read More
Mortgage

First responders and their families eligible for line of duty death benefit with mortgage lender

By Sarah RoebuckEditorial Staff CLEVELAND — First responders and their families can receive mortgage protection under an exclusive line of duty death benefit offered by CrossCountry Mortgage (CCM), the company announced. The program forgives the remaining home loan balances up to $525,000 for federal, state, county or municipal law enforcement officers, firefighters, EMTs or paramedics

Read More
Mortgage

Reverse mortgages carry potential pitfalls

JOHN RUEDI It’s almost impossible to watch the TV and not see a celebrity discussing the many benefits of reverse mortgages and what they provide for older Americans. Reverse mortgages can be a useful financial tool for some homeowners, particularly those age 62 and older who want to access the equity in their homes without

Read More
Mortgage

China Seen Freezing Lending Rate, Cutting Mortgage Benchmark

  China is set to hold firm on its benchmark lending rates on Monday, though the odds have shortened on a mortgage reference rate cut as Beijing looks to shock-start its crisis-hit property sector back into life. The loan prime rate (LPR), normally charged to banks’ best clients, is calculated each month after 20 designated

Read More
Mortgage

Why Renting Still Makes More Sense Than Buying in Major US Cities

Gamblers learn early on that “the house always wins.” In recent years, tenants have seen firsthand that the same is true of those who own houses — or apartment complexes. No investment is risk-free, as property owners learned during the housing bubble. However, home prices have risen consistently in the last decade-plus, as the median

Read More
Mortgage

35-year mortgages: ‘I had no choice but to get one’

Image source, Nicola Webb Image caption, Nicola, pictured with her dog Marco, bought her first property on a 35-year mortgage Article information Author, Lora Jones Role, Business reporter, BBC News 5 hours ago Young homebuyers are facing huge challenges when it comes to getting on – and staying on – the housing ladder. Nicola Webb,

Read More
Mortgage

Zombie 2nd mortgages are coming to life, threatening thousands of Americans’ homes | WFAE 90.7

Updated May 18, 2024 at 06:00 AM ET One spring morning two years ago, Karen McDonough was having tea at her dining room table. She lives in a cozy little two-bedroom house in Quincy, Massachusetts. She looked out her window and saw something unusual. “There were like 20 cars, and they all came at the

Read More
Mortgage

Mortgage Rates Today, May 18, & Rate Forecast For Next Week

Today’s mortgage rates Average mortgage rates climbed moderately yesterday. But it wasn’t enough to stop the last seven days being a good period for those rates. In other words, mortgage rates are lower this morning than they were a week ago. Next week’s calendar has few economic reports. And those that appear on it rarely

Read More
Mortgage

Can’t Afford To Buy a Home? Don’t Look for That To Change Soon

Key Takeaways Homes have become increasingly unaffordable in the last few years as high mortgage rates and growing prices have put home buying out of reach for many. Supply and demand have been out of balance in the housing market as the Federal Reserve has pushed its mortgage rates higher, although efforts to cut rates

Read More