10 creative ways to income-qualify for a home loan
Mortgage rates spiked again. Home prices are popping. And homeowners’ insurance is one big yikes. What if a lender says your income doesn’t qualify for a home purchase or a refinance loan? Besides the...
View ArticleHow no-cost mortgages save buyers money when rates come down
Rumor is the Fed might drop short-term rates three times in 2024. That’s good news for homebuyers as fixed-rate mortgages tend to follow the Fed’s lead. Today, a well-qualified buyer can get a...
View ArticleCan’t afford to buy a home? Here’s a plan of action to make it work
Home price gains continue to tick up, even with the 30-year fixed mortgage rates hovering around 7%. The U.S. housing market gained $2.4 trillion in the last year, bringing its total value to $47.5...
View ArticleNo relief this year for homebuyers, industry insiders predict
High home prices. High mortgage rates. No inventory. What is the home price tipping point? What will create more for housing inventory? Today, I’ve asked housing experts to weigh in. Their consensus?...
View ArticleWarning signs, including foreclosures, reverberate across housing economy
On March 12, ATTOM Data Solutions in Irvine reported 32,938 U.S. properties carried foreclosure filings in February, an 8% increase from one year ago. Those notices include defaults, scheduled auctions...
View ArticleNAR settlement creates daunting challenges for homebuyers, agents
The National Association of Realtors’ $418 million antitrust settlement agreement includes a component to end the practice of listing brokers setting and posting the buyers’ broker commission on the...
View ArticleHousing market malaise hasn’t cut options for equity rich homeowners
American homeowners have never enjoyed more home equity. The average homeowner now has $299,000 in equity, $193,000 of which is tappable while still maintaining a 20% equity stake. Mortgage holders...
View ArticleHow will house hunters find and buy homes, post-NAR settlement?
The National Association of Realtors’ proposed antitrust settlement will end buyer’s broker commissions being communicated over the local Multiple Listing Services in the months ahead. This seismic...
View ArticleWill a mortgage rate spike squash home price hikes?
The latest readings from the Consumer Price Index blew up the bond market Wednesday. As the CPI increased 3.5% from one year ago March (higher than anticipated by many market participants), the 10-year...
View ArticleWith mortgage rate topping 7%, what will it take to soften the market?
Mortgage rates have exploded, again. Last week, the Freddie Mac 30-year fixed was 6.88%. This week, it landed at 7.1%, or 22 basis points higher. Just a week ago, the principal and interest payment on...
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