Hispanic homeownership rate rose to 48.6% in 2022
Despite affordability challenges, Hispanic homeownership rates posted 48.6% in 2022 to mark eight years of consecutive growth.Â
Despite affordability challenges, Hispanic homeownership rates posted 48.6% in 2022 to mark eight years of consecutive growth.Â
Age is not just a number, but a potential barrier to refinancing a mortgage, a report published by the Federal Reserve Bank of Philadelphia argues. The analysis, which looked at confidential Home Mortgage Disclosure Act data from 2018 to 2020, concluded that being older can have a negative outcome on mortgage applications. Older borrowers were … [Read more…]
The housing bears have ratcheted up their rhetoric lately, calling for an impeding crash. Itâs not a crazy notion with home prices clearly unaffordable and mortgage rates no longer anywhere near 3%. But generally, a crash or bubble is preceded by creative financing of some sort. Back in 2006, it was zero down mortgages, stated… Read More »Todayâs Homeowners Canât Afford to Sell
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The housing market is in trouble. The latest blow being mortgage rates returning to 7%. But the ongoing issue has been a severe lack of inventory, which differs greatly from conditions around the time of the Great Recession. And the higher mortgage rates go, the worse the inventory situation gets. This is because existing homeowners… Read More »Can Free and Clear Homeowners Save the Housing Market?
The post Can Free and Clear Homeowners Save the Housing Market? appeared first on The Truth About Mortgage.
As I type this piece on Friday morning, I am at the OâHare aerodrome for a flight from Chicago to San Francisco. OâHare is packed and humming⦠What economic slowdown? Does my opinion on the economy matter any more than yours, or⦠that of the guy running JPMorgan Chase? Last June CEO Jamie Dimon warned of an economic “hurricane” down the road. âHurricaneâ is pretty sensationalist, especially when it hasnât happened. This week he told Reuters that the U.S. economy was in âgood shape.â Itâs a safe bet that inflation will compel the Federal Open Market Committee to hike overnight interest rates above 5% (from the 4.50%-4.75% level it’s at now). The Fed believes short-term rates will continue rising. If you had any questions, two Fed officials on Wednesday essentially echoed Fed Chair Jerome Powellâs hawkish opinion. Yet bond investors seem to be shrugging some of this off! If you knew that something was going to go down in price, you wouldnât want to own it outright, right? Investors are generally piling into notes and bonds with longer maturities even in the face of increased anticipation that the Federal Reserve will substantially hike its benchmark interest rate in the coming months. Go figure! (Todayâs podcast can be found here and this weekâs is sponsored by SimpleNexus, an nCino company and homeownership platform unites the people, systems, and stages of the mortgage process into one seamless, end-to-end solution that spans engagement, origination, closing, and business intelligence. For today, an interview with SimpleNexus CEO, Ben Miller, on why borrower experience and technological advancements to facilitate it are so important.)
LauraMac announced on Thursday that it has integrated with LoanLogics IDEA, an intelligent document processing and data extraction technology.