Brena Swanson is the Digital Reporter for HousingWire.com, providing expert coverage on Millennials, lending and housing. Brena joined the HousingWire news team in February 2013, also serving in the roles of Reporter and Content Specialist. Brena graduated from Evangel University in Springfield, Missouri.
Approximately 52% of Americans plan to buy a home in the next five years, leaving 1,825 days to save anywhere from a 3% to 20% down payment. So you better start saving now! In recognition of American Housing Month, the American Bankers Association Foundation highlighted six tips to help consumers cut costs and start saving.
Appraisal volume doesn’t appear to be budging for anything. Volume continued to trudge along at a very low volume for the majority of spring and now into summer. According to Kevin Golden, director of analytics with a la mode, it's not the potential low rates from Brexit that will impact housing.
Mortgage rates are expected to drop even further below the record lows witnessed this year, but you wouldn’t think so looking at the latest mortgage application report from the Mortgage Bankers Association. This is what happened instead.
Low down payment mortgage programs have made quite the entrance in to the market as of late. Quicken Loans revealed the details of what went factors made up its 1% down, and now Guaranteed Rate revealed a new 1% down program. This program, however, is significantly different, as Kasey Marty, executive vice president of secondary marketing with Guaranteed Rate, explains.
The tech industry found a home in San Francisco, propelling the region into a period of unprecedented wealth and innovation. But as more people prosper in Silicon Valley, it pushes more people out who can’t afford the outrageous costs of the city. So how does this impact housing in the busy city?
Americans are making sacrifices to ensure they are able to stay in their homes despite whatever may change in their lives. And whether it’s a mortgage or rent, paying for their home is a top priority when it comes to bills, creating a domino effect in other areas of their lives.
Just hours after the news that British voters decided to leave the European Union, the U.S. released its monthly consumer sentiment report for June, revealing that consumers already had a slightly dimmer view of the economy before the Brexit news.
Mortgage brokers eagerly welcomed a bigger paycheck at the start of this year after the end of 2015 significantly shorted the income of many in the business. To show exactly how mortgage banker profit has changed, this week's factsheet shows mortgage banker profit over the course of the past two years, using data from the Mortgage Bankers Association’s Quarterly Performance Report.
In a recent interview with HousingWire, Mat Ishbia, CEO of United Wholesale Mortgage, explained why low down payment mortgages are growing in popularity, especially among Millennial buyers. Are 3% down mortgages going to be the new normal?
After the financial crisis, mortgage brokers took a major hit, vacating their individual businesses and fleeing to the security of working for a bigger company. Eight years since the crisis. Eight years filled with new regulations and even new regulators, revitalizing the appeal of becoming a broker. Mat Ishbia, CEO of United Wholesale Mortgage, explains in an interview with HousingWire, how brokers are once again gaining ground.
Many of these 50 winners are leading their companies from the C-Suite, deciding overall strategy for their organizations and staking out new territory. Others are contributing through innovation, product development, process enhancements and big data analysis.
Until recently, the few dozen tiny communities across the country were run largely by proponents of tiny living who had banded together or as affordable housing for the homeless. But that all started to change in 2014, when creating tiny house communities started gaining momentum among some traditional builders who want to have a stake in the new trend.
The importance of communication with the consumer cannot be overstated. In addition to the required disclosures, the lender should ensure that guidelines include informing consumers that their payment will increase upon full assessment and that an escrow overage may be sent to them if the reassessment does not occur by the time they receive their first escrow analysis.