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Mortgage Points or No Points?

January 4, 2021

Mortgage borrowers often have a choice to pay more up front in points to get an interest rate reduction or save money and accept a higher rate. It’s a choice that more buyers are considering, particularly jumbo borrowers—those who borrow more than $510,400 in most locales. Borrowers should carefully weigh the decision when choosing to […]

Filed Under: Client Tips, CVAR Connect, Pro Tips Tagged With: #CVARmembers, cvarconnect, fixed-rate, lender, loan, mortgage, mortgage rate, points, REALTOR®Mag

Mortgage Credit Availability Tightest Since 2014

September 21, 2020

With the economy still entrenched in a long recovery from the effects of COVID-19, lenders continued to tighten their standards, resulting in the tightest mortgage credit availability in six years, according to the Mortgage Bankers Association (MBA). The MBA’s Mortgage Credit Availability (MCAI) Index fell 4.7% to a reading of 120.9 in August — its […]

Filed Under: CVAR Connect, Industry News Tagged With: credit, cvarconnect, loan, MBA, MCAI, mortgage, Mortgage Bankers Association, Scotsman Guide

Skipping Mortgage Payments?

May 11, 2020

As the ranks of the unemployed have swelled, homeowners have signed up for mortgage forbearance programs that let borrowers delay payments or make partial payments while they wait for their financial situation to improve.  But there’s been mass confusion over how borrowers will pay back what they owe. And the fear of a looming lump-sum […]

Filed Under: CVAR Connect, Government Affairs, National News Tagged With: #Cvarmember, CARES, cvarconnect, Fannie, FHFA, forbearance, Freddie, loan, mortgage, VA loan

Freddie Mac’s Single-Close Mortgage Covers Renovations

June 24, 2019

 Freddie Mac announced its CHOICERenovation loan offering last week, providing homebuyers the opportunity to purchase a home and finance the cost of renovations with a single-close mortgage. The CHOICERenovation mortgage is designed to help address the nation’s aging housing supply, support the need for affordable housing, and offer renovation, repair, improvement or refinance options to support the […]

Filed Under: At A Glance, Industry News Tagged With: ChoiceRenovation, finance, Freddie Mac, Home Possible, lender, loan, mortgage

Borrowers Eager to Lock in Rates

June 25, 2018

Mortgage rates have been up and down in recent weeks, so when borrowers saw little fluctuation last week, they jumped at a chance to lock in a rate. Home refinancers, in particular, took advantage. Total mortgage application volume rose 5.1% last week on a seasonally adjusted basis compared to the previous week. The gain was […]

Filed Under: At A Glance, Industry News Tagged With: ARM, loan, MBA, mortgage rates

More Buyers Putting Less Down

August 28, 2017

A 20% down payment is no longer the norm. In the past year, 1.5 million borrowers purchased their homes with down payments of less than 10%, according to Black Knight Financial Services. That marks a seven-year high. A growing number of home shoppers are financing more than 90% of their home purchase. “The increase is […]

Filed Under: At A Glance, Government Affairs, Industry News, Pro Tips Tagged With: Ben Graboske, Black Knight Data & Analytics, CNBC, cvar.net, down payment, financing, homebuyer, loan, low down, purchase lending

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