Home Buyers Unaware How Mortgage Rules Have Loosened – Today’s Mortgage and Real Estate News

Home Buyers Unaware How Mortgage Rules Have Loosened - Today's Mortgage and Real Estate News
https://growella.com/mortgage/ ► Today’s mortgage and real estate news: (1) Mortgage lenders report a loosening of mortgage guidelines for all loan types — conforming, USDA, VA, USDA, FHA, and Jumbo — but a huge percentage of consumers just told Fannie Mae they think it would be difficult to get a mortgage approved. Somewhere, there’s a disconnect. (2) An update on today’s mortgage rates and a look at the 5-day trends. (3) The National Association of REALTORS® reports that homes under contract rose in March for the second straight month despite shrinking home inventory and rising rates overall.

FROM THIS EPISODE
It’s hump day and mortgage rates are rising, which is less than ideal for buyers and for households looking to cancel that FHA MIP. Interest rates for conforming, FHA, jumbo, VA and USDA loans are higher across the board. The actual rate you get will depend on your loan size, where you live, and your history handling your credit. You’ll also put yourself in position to lower your overall costs when you commit to talking to more than one lender. Statistically, you’ll save two thousand dollars just by giving a second mortgage app so treat yourself right and comparison shop like a pro.

Jump to the following:
(00:13) Federal Reserve Senior Loan Officer Survey
(01:36) Today’s mortgage rates and trends
(01:58) Pending Home Sales Index

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Home Buyers Unaware How Mortgage Rules Have Loosened – Today’s Mortgage and Real Estate News