Industry News

For the first time in more than two decades, the Uniform Residential Loan Application (URLA) form underwent a significant change.

The FHFA and FHA have announced new loan limits for 2021. The Fannie Mae and Freddie Mac limit will be $548,250 for one-unit properties in most areas, and the FHA limit will be $356,362. Higher limits apply in designated high-cost areas.

Housing market continues to exceed expectations; sales of new homes in July surpass 13-year high; pending home sales increase for third straight month; new refi fee delayed until Dec. 1

Existing-home sales post a second month of record gains; rates are still near historic lows; purchase housing demand continues to accelerate

New listings increased for the first times since the start of the pandemic; homebuyer demand remains strong, with rates still at historic lows

Mortgage rates drop to new lows; mortgage applications are 22% higher than a year ago

Average mortgage rate dips to just below 3%; pending home sales increased 17% in June; homeownership rate soars to highest since 2008

Low mortgage rates and pent-up demand drive sales of new houses to the highest level since 2007; mortgage applications increase by 4.1%

Mortgage rates fall below 3% for the first time in 50 years; new home construction jumps 17.3% in June

Once again, mortgage rates fall to an all-time low and continue to spur demand for houses.

Freddie Mac reports that mortgage rates have again fallen to a new all-time low. The NAR recently identified the top ten metro areas with the best conditions for millennial homebuyers.

Mortgage rates are remaining low, and purchase demand has rebounded quickly. The promise from Federal Reserve to maintain low rates through 2022 provides further impetus to the market.

Mortgage rates drop to another all-time low. Purchase applications reach highest level in over 11 years due to pent-up demand and an improvement in consumer confidence. Refinances are also up.

You’re probably wondering: How did the March 15 Fed rate cut and the coronavirus outbreak affect mortgage rates and/or my mortgage application or pre-approval? Here are 3 quick Q&As with all you need to know right now. We’ll give you regular updates.

The current trend in the mortgage industry is for banks and lenders to consolidate operations and service offsite. All processing may be handled in one location, all underwriting in another, etc. This can delay loan approval, put your loan at risk of getting lost in the shuffle, and be all-around frustrating.

Generation Z. The youngest of the generations just entering adulthood, figuring stuff out. Some of us really get it, and know, like Whitney Houston did way back when, that they’re the future.

Interest rates haven’t been this low since January 2018! At the end of March, mortgage rates had the largest one-week drop in 10 years.

The landscape of lending and working with a Loan Officer has altered significantly since the Internet became the standard for worldwide communication.

Fed raises interest rates and signals two more increases this year. Now is a great time to lock in your mortgage rate before rates increase again.

Property inspectors do a great job on home inspections (discuss the process with your real estate agent). However, it is always a good idea to check as many things as possible on your own.