The historically low level of inventory for sale suggests that any rate-related increase in sales will be muted due to the inadequacy of listings needed to fulfill higher buyer demand. This softer sales response also suggests more upward pressure on pr… Continue reading
The Federal Housing Finance Agency wants at least 35 percent of the purchase mortgages backed by Fannie and Freddie to be taken out by low- and very low-income borrowers, up from 30 percent today. Continue reading
Fannie and Freddie will use new price-based qualified mortgage rule for loans with settlement dates after Aug. 31. Continue reading
Would-be homebuyers with thin credit files will have a better chance of getting approved for a mortgage if they’ve been paying their rent consistently, thanks to changes to Fannie Mae’s automated underwriting system taking effect next month. Continue reading
Most Americans don’t think prices will be higher in 12 months, but that mortgage rates will rise, according to a new Fannie Mae survey. Continue reading
Both companies benefited from rising home prices, and a resurgence in refinancings prompted by falling mortgage rates, which have come down from 2021 peaks seen in March. Continue reading
Forbearance programs that allowed homeowners with government-backed mortgages to put their monthly payments on hold during the pandemic will come to an abrupt end in the months ahead, straining the capacity of loan servicers tasked with helping borrowe… Continue reading
Mortgage lenders tightened underwriting standards in June, undoing much of the easing seen over the last six months as initial fears about the long-term impacts of the pandemic began to wane. Continue reading
Homeowners looking to refinance their mortgages could have an easier time getting a lower rate, with Fannie Mae and Freddie Mac’s federal regulator eliminating a 50-basis point refinancing fee that was intended to help the mortgage giants cover at leas… Continue reading
While most mortgage executives continue to see direct-to-consumer lenders like Rocket Mortgage as their biggest competition, mortgage brokers are seen as an increasingly worthy rival. Continue reading