Mortgage Industry News

A collection of Mortgage latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

wsj.com - Andrew Ackerman - WSJ News Exclusive | New Aid Planned for Mortgage Borrowers at Risk of Foreclosure
WSJ News Exclusive | New Aid Planned for Mortgage Borrowers at Risk of Foreclosure
Wall Street Journal

The Biden administration on Friday plans to expand assistance programs for borrowers who fell behind on their mortgages during the Covid-19 pandemic and continue to face economic hardship, a bid to prevent a sharp rise in foreclosures over the…

usatoday.com - Michael Collins and Rebecca Morin, USA TODAY - Biden administration offers new aid for mortgage borrowers at risk of foreclosure due to COVID-19 pandemic
Biden administration offers new aid for mortgage borrowers at risk of foreclosure due to COVID-19 pandemic
USA TODAY

WASHINGTON – The Biden administration announced Friday it is putting in place new loan modifications and payment reductions to help homeowners who have fallen behind on their mortgage payments during the coronavirus pandemic. The…

money.com - Leslie Cook - Mortgage Rates Start the Day Higher | July 23, 2021
Mortgage Rates Start the Day Higher | July 23, 2021
Money

The Federal Reserve. The Fed took swift action when the pandemic hit the United States in March of 2020. The Fed announced plans to keep money moving through the economy by dropping the short-term Federal Fund interest rate to between 0% and 0.25%…

ocregister.com - Jeff Lazerson - Will lenders refund fees paid for a market downturn that never materialized?
Will lenders refund fees paid for a market downturn that never materialized?
Orange County Register

Chino Hills resident Rick Serpa paid an extra $2,000 when he refinanced his mortgage last April to help cover costs for a pandemic-induced market downturn. But the downturn never materialized. Now Serpa is wondering how to apply for his refund.

nytimes.com - Steven Kurutz - Burned by Hot Housing Market, Some Buyers Back Off
Burned by Hot Housing Market, Some Buyers Back Off
The New York Times

The first house was in Midvale, Utah — a three-bedroom, just over 2,100 square feet, listed for $479,000. Rob Ettaro and his girlfriend, Kaliana Veros, who had moved from western New York to Salt Lake City, drawn by career opportunities and…

time.com - Today's National Mortgage Rates, July 23, 2021 | Rates Decreased | NextAdvisor with TIME
Today's National Mortgage Rates, July 23, 2021 | Rates Decreased | NextAdvisor with TIME
Time

A variety of key mortgage rates sank today. The averages for both 30-year fixed and 15-year fixed mortgages fell down. For variable rates, the 5/1 adjustable-rate mortgage (ARM) also tapered off. The average mortgage rates are as follows: The…

ocregister.com - Bloomberg - More help coming to stem foreclosures
More help coming to stem foreclosures
Orange County Register

Assistance is coming form the federal government for homeowners with government-backed mortgages who have been negatively impacted by the pandemic. (AP Photo/David Zalubowski) The White House on Friday announced plans to expand aid for mortgage…

stuff.co.nz - It's cheaper to pay a mortgage than rent, but only if you're in the right postcode
It's cheaper to pay a mortgage than rent, but only if you're in the right postcode
Stuff

It only costs $18 a week more on average to service a mortgage than pay market rent for first home buyers purchasing in June, according to CoreLogic data. In Christchurch, it was $68.50 cheaper per week on average to pay a new mortgage rather than…

theglobeandmail.com - Stephen Culp - U.S. housing market floats back to earth
U.S. housing market floats back to earth
The Globe and Mail

The U.S. housing market appears to be straining under the weight of its own pandemic-driven success. Recent data shows the sector is returning from the stratosphere and coming back to pre-COVID levels, as evidenced by a slew of data released this…

ft.com - James Pickford - Staycation boom drives surge in holiday lets companies
Staycation boom drives surge in holiday lets companies
Financial Times

The rate at which holiday let companies are being set up has more than doubled over the pandemic, as second-home owners look to offset their costs amid a booming UK staycation market. In the first six months of 2021, 1,401 holiday let companies…

theglobeandmail.com - Even if prices fall, the era of affordable houses in Canada seems to be done
Even if prices fall, the era of affordable houses in Canada seems to be done
The Globe and Mail

This is how Canada's housing market cools: from the white-hot intensity of a thousand suns to merely scorching. National sales figures for June pegged the average resale home price at $679,051, down from a little over $688,000 in May and an…

reuters.com - NatWest agrees to sell Ulster Bank assets to Permanent TSB
NatWest agrees to sell Ulster Bank assets to Permanent TSB
Reuters

LONDON, July 23 (Reuters) - Britain's NatWest Group (NWG.L) agreed to sell assets from its Irish arm to Permanent TSB (IL0A.I), a move the mortgage lender and analysts described as a 'once in a generation opportunity' for PTSB to compete with…

whitehouse.gov - Fact Sheet: Biden Administration Announces Additional Actions to Prevent Foreclosures
Fact Sheet: Biden Administration Announces Additional Actions to Prevent Foreclosures
The White House

Across America, a strong economic recovery is taking hold. Since President Biden took office, more than 3 million jobs have been created—600,000 a month on average. The American Rescue Plan is working, jumpstarting the economy and getting…

foxbusiness.com - Chris Jennings - Mortgage refinance rates end the week with a nose-dive | July 23, 2021
Mortgage refinance rates end the week with a nose-dive | July 23, 2021
Fox Business

Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as 'Credible' below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders, all opinions are…

theglobeandmail.com - Reuters - The great Fed conundrum and other world market themes for the week ahead
The great Fed conundrum and other world market themes for the week ahead
The Globe and Mail

Images are unavailable offline. The U.S. Fed meets on Tuesday and Wednesday and looks set to debate when and how to kick off a bond taper, even as a surging Delta variant caseload revives economic risks from a pandemic many policymakers had hoped…

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