Home Prices Still Fairly Strong
30 Second Market Update
October 07, 2024
CoreLogic, who provides data from multiple housing market segments, reported that home prices dropped by 0.1% in August, which was lower than their earlier prediction of a 0.2% increase. While […]
The Fed Cut Rates, Now What?
30 Second Market Update
September 23, 2024
Last week the Federal Reserve released their new policy statement, and they mentioned that they cut the Federal Funds Rate by 50 basis points or 0.5%. What does this mean […]
Home Equity Increasing
30 Second Market Update
September 16, 2024
CoreLogic released their Home Equity report, and it showed that people who own homes with mortgages, which is 62% of all homes, gained $1.3 trillion in equity, or 8%, from […]
What is Considered Debt When Applying for a Mortgage?
Knowledge Base
September 09, 2024
Understanding Debt in Mortgage Applications Debt is any money you owe to lenders or creditors, and it plays a crucial role in determining your ability to repay a mortgage. Lenders […]
Understanding Non-Qualifying Mortgages: A Comprehensive Guide
General News
September 09, 2024
What Are Non-Qualifying Mortgages? Non-qualifying mortgages (Non-QM) are home loans that do not conform to the underwriting standards set by the Consumer Financial Protection Bureau (CFPB) under the Qualified Mortgage […]
Understanding How Mortgage Rates Are Determined
General News
September 09, 2024
The Basics of Mortgage Rates Mortgage rates are essentially the interest rates charged by lenders on home loans. These rates can be fixed, meaning they remain the same throughout the […]
Nationwide Surge in Home Mortgage Lending Marks Broad Recovery in Second Quarter of 2024
30 Second Market Update
September 09, 2024
In the second quarter of 2024, U.S. home mortgage lending rebounded significantly, with a 23.2% quarterly increase, totaling 1.62 million mortgages. This growth brought lending levels close to those seen […]
Good News For First-Time Homebuyers
30 Second Market Update
September 02, 2024
According to a recent analysis from Redfin, starter homes are a bright spot in the housing market as mortgage rates settle near a 15-month low. In July, pending sales for […]
US Job Growth Far Weaker Than Originally Reported
30 Second Market Update
August 26, 2024
Preliminary annual benchmark review of employment data from the Bureau of Labor Statistics (BLS) reveals that U.S. job growth over the past year was much weaker than initially reported, with […]
Mortgage Applications Surge By 16.8%
30 Second Market Update
August 19, 2024
In the week ending August 9, 2024, mortgage applications surged by 16.8% from the previous week, according to the Mortgage Bankers Association (MBA). This increase was driven by a 35% […]
Tappable Equity Reaches Record High
30 Second Market Update
August 12, 2024
The latest ICE Mortgage Monitor report reveals that tappable home equity in the US has soared to an unprecedented $11.5 trillion, with 60% of mortgage holders having at least $100,000 […]
Home Price Update: Why Waiting Could Cost You
30 Second Market Update
August 05, 2024
The Case Shiller Home Price Index, the top standard for measuring home values, showed a 0.3% rise in home prices for May, hitting a new record high. Without seasonal adjustments, […]
