mortgage balances
New Study Blames Cash Out Refis for Mortgage Crisis
A new study from Fed researcher Steven Laufer puts a lot of the mortgage crisis blame on cash out refinancing, which swelled in popularity as home prices increased in the early 2000s. Of course, when home prices took a turn for the worse, many who extracted home equity paid the price by acquiring an underwater [&hellip
The post New Study Blames Cash Out Refis for Mortgage Crisis first appeared on The Truth About Mortgage.
The Cash Out Refi Share Is Above 80%, But Thereâs a Catch
While it would appear that borrowers are using their homes as ATMs again, itâs a bit misleading. Yes, the share of home mortgage refinances that resulted in cash out rose above 80% in the third quarter, per Freddie Mac data, but one must also consider overall loan volume. Letâs start with the basics here. Of [&hellip
The post The Cash Out Refi Share Is Above 80%, But Thereâs a Catch first appeared on The Truth About Mortgage.
125% Second Mortgages Are Back Again…
It feels like weâre getting dangerously close to repeating history in the worst way possible. High-risk loan programs that seemed extinct were perhaps only endangered, as evidenced by a new product launch over at CashCall, an Orange County based company that offers both personal and mortgage loans. Yep, theyâre offering 125% second mortgages, and no, [&hellip
The post 125% Second Mortgages Are Back Again… first appeared on The Truth About Mortgage.
Value of U.S. Housing Market Hits Another All-Time High
In the second quarter of 2020, the U.S. housing market hit an all-time high of $32.8 trillion, per The Federal Reserveâs Flow of Funds Report, as referenced in the latest Monthly Chartbook from the Urban Institute. That was up from roughly $32.4 trillion in the first quarter of 2020, thanks to an increase in home [&hellip
The post Value of U.S. Housing Market Hits Another All-Time High first appeared on The Truth About Mortgage.
Household Debt Climbs to $14.56 Trillion as More Americans Seek Mortgage Loans – Investopedia
Household Debt Climbs to $14.56 Trillion as More Americans Seek Mortgage Loans Investopedia
Foundation Paying Off Mortgages of Fallen FBI Agents To Help Their Families>
Understanding the seasonal patterns of mortgage rates
Much like the changing of the calendar, buying and selling homes follows a seasonality that that those in mortgage and real estate have grown accustomed to. But a recent study from tech startup Haus found that mortgage rates can also be seasonal, and borrowers can benefit from understanding that rhythm.
The post Understanding the seasonal patterns of mortgage rates appeared first on HousingWire.