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Mortgage applications have increased according to the Mortgage Bankers Association’s weekly report while mortgage rates continue to fall. The (MBA) stated that the seasonally adjusted composite index increased 4.7%, and the seasonally adjusted purchase index grew by 4.00% from last week. The average 30-year fixed rate mortgage fell to the lowest rate seen since November…

New research shows that single-family housing may be decreasing while the rental market continues to grow. Many reports in the U.S. have shown that the rental market is increasing. A large amount of investors are betting on multifamily housing as many younger adults are choosing to rent due to job constraints and other financial factors.…

In the past, reverse mortgages may not have been considered a good idea by many, but as the program grows and continues to improve, the option of a reverse mortgage is becoming more appealing. Amy Hoak, a MarketWatch columnist said, “as people live longer due to medical advances, more of them may need to get…

According to RealtyTrac, foreclosures in the U.S. last year fell 26% from 2012. 2013 saw the lowest level of foreclosures in six years. The total number of foreclosures, scheduled auctions, notices of default and bank repossessions fell to 1.36 million last year, helping the national foreclosure rate decrease to approximately 1.04%. The vice president at…

New research reports that the United States economy is continuing to shape up, and experts expect brighter days to come. Private-sector employment has increased by 200,000 for the last 3 consecutive months, and the trade deficit has decreased to levels that have not been experienced in approximately four years. The chief investment officer at Morgan…

Jumbo loans, loans that exceed $417,000, are on the rise as significant changes have been introduced. The new rules contain both negative and positive aspects, according to many experts. Changes to the program are expected to make credit access more expensive for jumbo borrowers. Experts also suggest that jumbo loan rates will not increase as…

Experts have named 2014 the year of the boomerang buyer. Revised guidelines and updates have made room for many former homebuyers, some of whom foreclosed as recently as one year ago, to be able to buy again. In the past, the wait-period to buy after foreclosure was seven years. Many experts expect the change to help…

Experts largely agree that the recent changes made to the Federal Housing Administration-insured reverse mortgage program should be considered positive for those considering, or about to enter into the HECM process. The modifications made to the program will help protect both the federal government and borrowers, and should also offer a better experience for consumers.…

New data from Freddie Mac states that mortgage rates stayed around the same this week. The 30-year, fixed-rate mortgage for last week averaged 4.51%, up from 3.40% last year, and down 0.2% from the week prior, while the average 15-year, fixed-rate mortgage came in at 3.56% up 0.1% from last week. The chief economist and…