Finance & Mortgage

SEC Sues Former Freddie Mac And Fannie Mae CEO's Over Subprime Loan Disclosures

'Average Mortgage Rate for 30-Year Loans Climbs to Just Under 7%, the First Increase Since May

The average contract rate on a 15-year mortgage also rose this week by 0.09%.

Mortgage Rates Affected By Latest Interest Rate Rise

'California Announces New Home Loan Program for First-Generation Buyers

The new home loan program will provide first-generation buyers with vouchers amounting up to 20% of a home's value.

'10 US Metro Areas Where the Costs of Living Are the Most and Least Expensive

The analysis took into account groceries, health care, housing, miscellaneous goods, transporation, and utilities costs.

EDITOR'S PICKS

'How to Navigate the Challenges of Mortgage Branching

For ambitious individuals seeking a rewarding career path, mortgage branching presents a compelling opportunity. It offers the chance to build your business within a supportive framework, helping borrowers achieve their dream of homeownership. However, establishing and running a successful mortgage branch involves inherent challenges. Read on to discover effective strategies for navigating these challenges and building a thriving mortgage branch.

By David Thompson
'7 Beginner Tips for Real Estate Investing

If you're planning on investing in a real estate property, here are seven tips to help you jumpstart your investment journey.

By D. Ong
'Biden Administration Green Lights New Program for Purchasing Second Mortgages

The new pilot program will allow Freddie Mac to purchase certain single-family closed-end second mortgages.

By D. Ong
'Mortgage Rates Decline Significantly, but Homebuilding Still Down Due To Elevated Interest Rates

The contract rate for the 30-year mortgage averaged 6.87% in the week ending June 20.

By D. Ong
'Home Purchase Applications in the US Rise Again After Brief Drop in Mortgage Rates

Mortgage applications for home purchases rose over 15% in the week ending June 7.

By D. Ong
'5 States With the Highest and Lowest Hidden Costs of Homeownership

The average annual hidden cost of owning and maintaining a median-priced home in the US is over $18,000 a year.

By D. Ong
'Hidden Costs of Homeownership Soared by 26% Since 2020: Report

Owners of a median-priced home would now need to shell out $1,510 a month on top of their monthly mortgage payments.

By D. Ong
'Mortgage Rates Soar Past 7% Again: Freddie Mac

Mortgage rates climbed to 7.03% in the week ending May 30.

By D. Ong
'4 Things That Need To Happen for Mortgage Rates To Fall, According to Experts

Mortgage rates have remained elevated in recent weeks despite falling from a peak of 8% in October 2023.

By D. Ong
'5 Financial Mistakes You Might Be Doing That Could Get Your Mortgage Rejected

Avoid these common financial mistakes to increase your changes of getting your mortgage approved.

By D. Ong
'Mortgage Rates May Stay Above 7% Through 2024, According to Forecasts

The rate for the 30-year mortgage is currently at 6.94%.

By D. Ong
'Here’s How Much You Need To Make to Comfortably Rent in the 15 Most Expensive Metro Areas in the US

In some metro areas, individuals would have to earn at least twice the median salary to comfortably afford a rental.

By D. Ong