As era advances at a breakneck pace, the concept of the metaverse has emerged as one of the maximum compelling narratives of the digital age. Often described as a collective digital shared area, the metaverse encompasses augmented fact (AR), digital reality (VR), and the net, promising to reshape how we socialize, paintings, and play. While … Read more
Everyone knows that high mortgage rates have been a big drag lately, especially for potential homebuyers facing sky-high asking prices. But what if I told you that nearly half of those who recently bought a home are still getting an interest rate of less than 5%? It seems highly unlikely, given the fact that the … Read more
If you recall, Chase acquired struggling First Republic Bank in May 2023. Before First Republic’s collapse, it was the leading jumbo home loan lender in the United States. They catered to wealthy homeowners and businessmen. Ironically, it was their extremely low-interest mortgages that ultimately led to their decline. Today, Chase is the nation’s largest jumbo … Read more
It seems clear now that it does not matter what economic data comes out between now and next week. Mortgage rates will not improve by any significant margin this week or even after the election. Unfortunate for those who need to stabilize and/or close their price this week. And last month for that matter. Lenders … Read more
I wanted to take a moment to talk about the types of sellers out there in the housing market. There are usually two types of sellers: potential sellers and must-sell sellers. The first group are people who will sell their property, but only for the right price. The second group consists of motivated sellers who … Read more
Shape Lending unveiled the new loan at a time when housing affordability has rarely been worse. Call it a sign of the times, and perhaps an eerie reminder of the housing market of the early 2000s. But maybe with some extra guarantees this time, like actual underwriting of the loan! The new product, a home … Read more
I often try to find positive aspects in bad situations. The latest problem facing potential homebuyers is the return to 7% mortgage rates, up from about 6% just a month ago. Although there is no clear negative relationship between mortgage rates and home prices, as one rises and the other falls, you can still make … Read more
Fannie Mae and Freddie Mac announced newly expanded appraisal waivers to reduce costs and help more first-time homebuyers purchase a property. The pair does offer assessment relief on some of the loans they guarantee, but the loan-to-value (LTV) ratio is currently set at 80%. This means you should have at least a 20% down payment … Read more
We’re currently facing a strange kind of housing crisis where current homeowners are in a great place, but potential buyers are often priced out. The problem is one of affordability and the problem of lack of available stock. It’s the type of inventory that first-time home buyers look for. So, you have a market of … Read more
Another fintech that has been quietly growing in the mortgage space is looking to solve the age-old “buy before you sell” conundrum. The main challenge facing potential buyers these days is unloading their old property while securing a new home. The problem is exacerbated by a continuing shortage of for-sale inventory, coupled with declining affordability … Read more