via YAHOO: A Biden administration rule is set to take effect that will force good-credit home buyers to pay more for their mortgages to subsidize loans to higher-risk borrowers. Experts believe that borrowers with a credit score of about 680 …
by Martin Armstrong The talking heads have been warning of a housing crash, but that is not what Socrates indicated. The 30-year fixed rate is around 6.89% at the time of this writing. Housing costs continue to rise, causing the …
by BoatSurfer600 via bnnbloomberg: Some consumers with variable-rate mortgages at Canada’s biggest banks are tacking unpaid interest onto their mortgage’s principal instead of paying the full amount each month. Others are paying interest only. The tactics are becoming more common as …
PORT ST. LUCIE, Fla. — This week the Federal Housing Administration gave the OK to 40-year mortgages. It’s a move designed to try and make it easier for first-time home buyers. “If it helps people get into a house, it’s …
Guest post from John Rubino: Between 2020 and 2022 houses in America’s hottest real estate markets went from unaffordable to 50% above unaffordable. Put another way, they did what would have been impossible in an economy where market forces determined …
Underwater mortgages are nowhere close to GFC levels. However, limited equity, i.e., less than 10% of equity in homes is rising. As home values decline, the proportion of the loan increases and equity portion decreases. This needs to stay under …
Completely unsustainable. Fed is to blame for manipulating the interest rates for decades. “the typical home buyer in October paid 77 percent more on their loan, per month, than they would have last year, according to Realtor.com.” https://www.nytimes.com/2022/11/04/realestate/housing-market-interest-rates.html AC
by Michael Here we go again. When the housing market crashed in 2008 and 2009, large numbers of U.S. homeowners ended up owing more on their mortgages than their homes were worth. When the Federal Reserve started to aggressively hike …
Hey Gen-Z renters who will never be able to afford a home of your own thanks to the Fed: how do you feel about the Brandon regime putting taxpayers on the hook to shield Biden’s bankster pimps and puppet masters …
Rose Prophete thought the second mortgage loan on her Brooklyn home was resolved about a decade ago — until she received paperwork claiming she owed more than $130,000. “I was shocked,” said Prophete, who refinanced her two-family home in 2006, …
by Shaun Richards Today’s theme is something that has become quite a saga and reminds me of this from Paul Simon. hello darkness my old friend I have come to talk with you again This is because we have been …
Mortgage rates continue to fill the headlines as the fallout from the Chancellor’s tax cutting mini-Budget hits borrowing costs. While the Government has now reversed its decision to cut the 45p top rate of income tax for high earners, last …
by silvertomars Wells Fargo Housing Market Index is now below where it had been in May 2006, on the way down into the Housing Bust At a 6% interest rate, monthly mortgage for a $500K home is 40% higher compared …
View post on imgur.com Bank of America announces zero down payment, zero closing cost mortgages for Black and Hispanic first-time homebuyers Residents in select Charlotte, Dallas, Detroit, Los Angeles and Miami neighborhoods will be the first to be offered the …
by BtcKing1111 Pre-construction buyers of an estimated 950,000 units across 286 project sites are refusing to pay mortgages on buildings that have stalled construction for more than a year, since Evergrande’s collapse. This totals an estimated USD $100 billion in …
by Boo_Randy Chinese homebuyers have to pre-pay for their apartments…and now with Chinese property developers going broke left and right, millions of Chinese “investors” are left holding the bag. So now a bunch of them are refusing to keep making …
by Skadi793 There has been an explosion in adjustable-rate mortgages issued in the last 4 months, from 3% of all outstanding loans, to over 11% https://www.cnbc.com/2022/05/11/adjustable-rate-mortgage-demand-surges-to-14-year-high-as-homebuyers-try-to-afford-this-pricey-spring-market.html and in addition to this, more than 10% of loans are FHA/VA, which allow for …
by confoundedinterest17 Michael Lea and I wrote a paper several years ago arguing that most borrowers would be better-off with an adjustable-rate mortgage than a fixed-rate mortgage. The US is one of the few countries in the world where the …
by confoundedinterest17 The US 30-year mortgage rate broke through the 4% barrier. According to Bankrate’s mortgage survey, the 30-year mortgage rate is now 4.2%. Even more interesting is the 5/1 Adjustable Rate Mortgage (ARM) rate falling slightly to 2.87%. That is …
Buying votes? Thousands of California homeowners who fell behind on mortgage payments during the COVID-19 pandemic could receive relief grants as part of Gov. Gavin Newsom’s $1 billion plan that was federally approved on Monday. The U.S. Department of …
by confoundedinterest17 We are living in a negative real yield world. According to Deutsche Bank, 85% of the US High Yield market has a yield below the current rate of inflation. Its not only high-yield bonds that have negative REAL …
by confoundedinterest17 (Bloomberg) While U.S. homeowners may be celebrating their good fortune as home prices surge higher at a blistering 17% year-over-year clip, history suggests the end of quantitative easing will cool things off. A healthy housing market wouldn’t exhibit the out-sized …
In today’s show, you will learn how the Fed could send 30-year mortgage rates down to one percent, why the Federal Funds Rate no longer matters, how Quantitative Easing and Tightening works, How overnight repurchase and reverse repurchase work, why …
If you’re still writing a check to pay your rent and dropping it off at your landlord’s house every month because you’re not getting sucked into paying that extra 55 cents to mail it (saving you a whopping $6.60 a …
by confoundedinterest17 (Bloomberg) — Mortgage rates in the U.S. dropped to the lowest level in four months. The average for a 30-year loan was 2.93%, down from 2.96% last week and lowest since Feb. 18, Freddie Mac said Thursday. “Mortgage rates continue to drift down as …
by confoundedinterest17 People get ready … mortgage rates will rise. The 10-year Treasury Note yield rose after The Fed announced that they aren’t going do much until 2023, but rates rose anyway. Rising home prices may get nuked by rising rates. Odd …
Mortgage applications to purchase a home fell 4% last week from the previous week. The average purchase application size hit $411,400 — the highest since February. The average rate for 30-year fixed-rate mortgages increased to 3.15% from 3.11% Sky-high home …
Some suggest real estate is in a bubble driving not by fundamentals but by economic and monetary policy. More money moving into the stock market. Value stocks have seen more inflows and tech stocks and other growth stocks are also …
via MarketWatch: You can kiss George Bailey’s mortgage market goodbye. As the small-town banker in Frank Capra’s “It’s a Wonderful Life,” Bailey epitomized an old-fashioned world in which bankers know every borrower personally. In the mortgage market of 2019, borrowers …