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From the buyer and the seller to the Real Estate Agent and the Loan Officer, closing on a home has different implications for different individuals. However, there are some basic facts about what’s involved during this critical final stage of the homebuying process. Read More
Though it may not be a traditional time to purchase a property, buying a home in winter may be the right opportunity for you and your family. There can be great deals for the persistent and savvy buyer during the winter homebuying season. Read More
Looking for a loan but don’t know where to start? Have a non-traditional source of income and you’re not quite sure if you qualify for a typical loan? Perhaps you have had difficulty in the past getting approved for a mortgage and you’re exploring different options. Regardless, you’ll probably want to hear more about Qualified Mortgage (QM) loans and Non-Qualified (Non-QM) loans. Read More
In addition to your credit score, your debt-to-income (DTI) ratio plays a crucial part of your overall financial health when you apply for a mortgage. It’s actually one of the most important aspects mortgage lenders use to assess your credit worthiness. Read More


Mortgage Rates Hard-Hit by Trade Headlines

Posted To: Mortgage Rate Watch

Mortgage rates jumped quickly higher today following a series of headlines/tweets regarding the probability of a US/China trade deal ahead of Sunday's tariff deadline. What does all that mean? Let's break it down. The status of the US/China trade relationship is a big deal for financial markets, including the bond market that dictates interest rates like those for mortgages. The more robust and more certain a trade deal seems, the worse it is for rates in general. This Sunday is a deadline for the implementation of a new round of tariffs. As such, risks are/were high that we would see some sort of announcement to cancel or lessen the tariff burden. As of this morning (and again this afternoon), it looks like that is indeed what is happening. At first, a Trump tweet about the likelihood of a...(read more)

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Sluggish Loan Applications Show Weakness in New Home Sales

Posted To: MND NewsWire

While the Mortgage Bankers Association (MBA) is predicting newly constructed homes sold at a much higher rate in November than they did a year earlier, sales are expected to be down significantly from this past October. MBA's Builder Application Survey (BAS) data for November 2019 shows mortgage applications for new home purchases increased 27.1 percent compared to November 2018 but were down 17 percent from the prior month. This change does not include any adjustment for typical seasonal patterns. Based on the application data and information about market coverage and other data, the association estimates new single-family home sales were running at a seasonally adjusted annual rate of 688,000 units during the month. This estimate is a decrease of 13 percent from the October pace of 791,000...(read more)

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