Over 9000 FHA Loans in 2016 Never Should Have Happened

Posted Leave a commentPosted in Financing

The sources of information used by FHA lenders in 2016 were outdated or insufficient, and lenders didn’t request sufficient information from borrowers about delinquent federal debt and in some cases, delinquent child support payments. Because of this, the FHA insured loans for some people who were legally ineligible to receive them. The Department of Housing […]

Buyers regaining confidence in the market as homeowner confidence drops

Posted Leave a commentPosted in Financing, Housing shortage, Market Direction

Many prospective home buyers still don’t think they can afford a down payment just yet, but they’re becoming hopeful. Lenders are more willing to loan to first-time buyers, and the sheer demand is, perhaps artificially, inflating morale. Buyers are aware they need to make sacrifices, though. Over half are willing to take up a second […]

Market direction unclear as statistics suggest opposing trends

Posted Leave a commentPosted in Financing, Market Direction

The end of February, interest rates were at a four-year high, with 30-year fixed rate mortgages averaging 4.40% and 5-year adjustable rate mortgages averaging 3.65%. At the same time, interest on treasury notes is down. This means investors are abandoning bonds and now buying mortgages. Despite changing their methods, investors don’t have any concerns about […]