Daily Herald, Sept. 19, 2015–Woodard, Jim Mortgage qualification requirements are easing, making them more available for homebuyers and owners who want to refinance their existing loans, according to several sources.
Category: Top National News
New FHA Rules Hamper Mortgages for Student-Loan Borrowers
UPI, Sept. 20, 2015–Connolly, Amy The Federal Housing Administration just made it more difficult for first-time homebuyers with outstanding student loans to get low down payment mortgages with changes to the crucial debt-to-income calculation.
Top Strategist: Fed Mistake to Delay Rate Hike
Bloomberg Surveillance, Sept. 21, 2015BMO Chief Investment Strategist Brian Belski discusses why the next step for the Federal Reserve must be a rate hike.
Americans Aren’t Ready for an Interest Rate Hike
Newsweek, Sept. 17, 2015–McGrath Goodman, Leah
This summer, Americans raced to buy and refinance their homes, with new mortgage applications climbing more than 20 percent from June to mid-August, says Joel Kan, associate vice president of industry surveys and forecasting for the Mortgage Bankers Association. This, he said, is allowing some Americans to regain a bit of financial footing.
Former MBA Chairman Brings Four Decades of Industry Experience To EquityKey
MortgageOrb, Sept. 17, 2015
John Robbins, CMB, former chairman of the Mortgage Bankers Association and founder of the American Residential Mortgage Corp., has joined the advisory board at EquityKey, a San Diego-based home finance company.
30-Year Mortgage Rates Rise Again
Associated Press, Sept. 17, 2015
Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage edged up to 3.91 percent from 3.90 percent a week earlier. The rate on 15-year fixed-rate mortgages rose to 3.11 percent from 3.10 percent.
Zillow: Student Debt is Not Crippling the Housing Market
National Mortgage Professional, Sept. 17, 2015–Hall, Phil
In a bold challenge to what has recently become a widely accepted theory across the housing industry, Zillow is insisting that the record level of student debt carried by recent college graduates is having no impact on one’s ability to obtain a mortgage.
Fed Leaves Interest Rates Unchanged
Wall Street Journal, Sept. 17, 2015–Hilsenrath, Jon
The Federal Reserve left short-term interest rates unchanged after weeks of market-churning debate at the central bank about whether it was time to end an era of near-zero rates in acknowledgment of the stronger domestic U.S. economy and job market.
Fannie Mae: Lenders Say It’s Now Easier to Get a Mortgage
HousingWire, Sept. 17, 2015–Swanson, Brena
Lenders witnessed an easing in lending standards across all loan types over the third quarter, according to Fannie Mae’s third quarter Mortgage Lender Sentiment Survey.
U.S. Jobless Claims at Eight-Week Low; Housing Starts Fall
Reuters, Sept. 17, 2015–Mutikani, Lucia
The number of Americans filing new applications for unemployment benefits fell last week to the lowest level in eight weeks, suggesting the labor market continued to strengthen despite the recent tightening in financial market conditions.