PENNYMAC on LinkedIn: #pennymac #money #propertyvalues #homeowner (2024)

Lending Standards Are Not Like They Were Leading Up to the CrashYou might be worried we’re heading for a housing crash, but there are many reasons why this housing market isn’t like the one we saw in 2008. One of which is how lending standards are different today. Here’s a look at the data to help prove it. Every month, the Mortgage Bankers Association releases the Mortgage Credit Availability Index. According to their website, “The MCAI provides the only standardized quantitative index that is solely focused on mortgage credit. The MCAI is . . . a summary measure which...#realestate #homeownership #homebuyingMessage me to talk about buying or selling!

Have you heard about the new 40-year mortgage product recently approved by HUD and the Federal Housing Administration? ⁠⁠Starting May 8th, 2023, FHA borrowers in default will be able to re-amortize their unpaid debt over a 40-year period, allowing them to keep their homes and prevent foreclosure-related activities.⁠⁠It’s generating a lot of questions in the industry, but we want to hear from you!⁠⁠Join the conversation in the comments below and share your thoughts.👇⁠⁠@AlignAgents⁠ALIGN Real Estate⁠⁠#40yearmortgage#FHA#marketwatch#inflation#mortgagetips#housingmarket#realestate#orlandoflorida https://lnkd.in/efxMT_nD

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🔥Ever wondered about the mysterious world of mortgage interest rates? We’ll go over the current landscape, examining where rates have been, where they are today, and what the future may hold. In the past week, mortgage rates experienced their most significant one-week improvement in over a year. We’ll go over the Federal Reserve's monetary policy, projections on the 10-year Treasury yield, expert opinions on the future, and more. If you're considering a mortgage or a refinance, check out this short video.👉Learn more: https://lnkd.in/exaZ76hh#TheHolmesTeam #chappaquany #RealEstate #mortgageinterestrates #FederalReservepolicy #tenyeartreasuryyield

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Many borrowers use Buy Now, Pay Later (BNPL) plans for their purchases, but did you know they can potentially hurt their credit scores and derail their dreams of homeownership? Equip your clients with this info to help them make more informed decisions! Share how BNPL plans work and how they might affect their mortgage qualification: https://okt.to/a8NnbG #CreditTips #MortgageLending #BuyNowPayLater #CreditScores #HomebuyerTips

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Closing costs and monthly mortgage payments spiked last year while Black and Hispanic buyers faced higher levels of denial on home loans, according to the new report “Data Point: 2022 Mortgage Market Activity and Trends,” published by the Consumer Financial Protection Bureau (CFPB).During 2022, closing costs rose 22% from 2021 to $5,954 as a higher percentage of borrowers (50.2%)#CFPB #ConsumerFinancialProtectionBureau #homebuying #homeownership #mortgage #UShousingmarket

Update on Interest RatesThree days ago, I shared about interest rates and the possibility rates would be coming down.On December 2nd, I wrote rates were 7.22% today working with a client I called Ronda my lender guy, she’s not a guy, anyway 6.875%.Ronda told me rates are changing hourly and actually dropped a little more from when we spoke at 4:00 until 5:00.Just so you can understand the difference between a 7.22% mortgage and 6.875% mortgage.You purchase a $400,000 home and put 20% down so financing $320,000 at 7.22% the amount of principle and Interest would be $2,176 a month at 6.875% it would be $2,102 a month.You might think $74 isn’t that much let’s look closer, how about $888 a year or $26,640 over the 30-year mortgage.Thinking about buying in Florida and need a great lender?Call Ronda Hennessy she has helped many of our clients, be sure to tell her I shared her information.Dick Betts, REALTOR®The Betts TeamTouchstone Real EstateThe Villages, Florida717-860-3107 cellDick@DickBetts.com#realestate #realtor #thevillagesflorida #homesincentralfl #thebettsteam #dickbettsrealtor #dickbetts

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What’s Ahead For Mortgage Rates This Week – February 5th, 2024: The largest and most impactful financial data being released is as always the Federal Reserve rate decision. This time it fit well within the expectations across the broader market and lending partners, in that the Federal Reserve still remains to hold current standing, and is showing push back on any potential rate cuts coming March […]The post What’s Ahead For Mortgage Rates This Week – February 5th, 2024 appeared first on Ishakis Finance Report Mortgage Broker Brooklyn. http://dlvr.it/T2Kk4k

Interest rates are just one piece of the puzzle when it comes to buying a home. The home buying process is a complex transaction with many, many different components. That means that you can’t only look at interest rates when you’re deciding whether or not to buy. You also need to consider these things: - Your financial situation - Your down payment - Your credit score - Different mortgage types and terms - Your wants and needs for a home If you want to talk more about whether now is the right time for you to buy or not, send a DM! We’ll chat and you’ll get the info you need to make a smart, informed decision.📲Contact me today to see how I can ensure that you are properly pre-approved as a buyer with the best loan solutions, rates and terms.Paula MartinezLoan Officer | NMLS# 1371982☎️ 562.762.5498 ✉️ Paula@paulasloans.com https://paulasloans.com #homebuying #interestrates #financialsituation #downpayment #creditscore #mortgagetypes #smartdecisionmaking

While shopping around for the best mortgage rates is widely recommended, only 36% of borrowers actually reach out to more than one lender, according to J.D. Power data. The percentages are slightly higher for first-time homebuyers (42%) and Gen Y/Gen Z borrowers (44%). For mortgage lenders, this data highlights the importance of capturing borrowers early in the process before they've committed to another lender. Promoting transparency around rates and fees, providing educational resources, and prioritizing the initial customer experience could help lenders convert more of these borrowers shopping around. However, lenders should also be prepared for this consumer behavior to potentially change as more borrowers become savvy to the benefits of rate shopping. Continuously improving the overall borrower journey will be key to remaining competitive. #mortgages #mortgagrates #mortgagelending #jdpower

Recent updates from the Federal Reserve have confirmed a pause in interest rate hikes. While this doesn't directly affect mortgage rates, it's an essential piece of the larger economic puzzle. At BankSouth Mortgage, we're here to guide homebuyers through these changes and help them understand how they may influence their property decisions. Stay informed and stay ahead.#BankSouthMortgage #YourLocalLender #ExpertiseYouCanTrust #FederalReserve

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