Debt Limit
The debt limit is the total amount of money that the United States government is authorized to borrow to meet its existing legal obligations, including Social Security and Medicare benefits, military salaries, interest on the [...]
How the Fed’s rate hikes slow the economy — and impact you
By Rachel Siegel and Emily Wright Updated Nov. 2 at 2:02 p.m. Originally published Oct. 31, 2022 The economy runs like a machine. Right now, it’s overheating: Inflation levels are at the highest in decades, [...]
What Are Supplemental Real Estate Taxes?
Homebuyers are often caught off-guard, and confused, by supplemental property tax bills. Receiving an unexpected bill in the mail is never a pleasant surprise, however supplemental property tax bills have been with us since July [...]
Adjustable-Rate Mortgage vs. Fixed Rate Mortgage
Adjustable-Rate Mortgage vs. Fixed Rate Mortgage When interest rates are on the rise, like as of late, it’s not all bad news for homebuyers. With the surge in interest rates, many forecast an uptick in housing inventory, [...]
It hasn’t been this hard to get a mortgage in six years
By Kathleen Howley Mortgage credit in August was the tightest in more than six years as a weak economy prompted lenders to tighten standards, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage [...]
Loan-Level Pricing Adjustments (LLPA): A Complete Guide For Mortgage Borrowers
Loan-Level Pricing Adjustments (LLPA) A loan-level pricing adjustment (LLPA) is a risk-based fee assessed to mortgage borrowers using a conventional mortgage. Loan-level pricing adjustments vary by borrower, based on loan traits such as loan-to-value (LTV), [...]
U.S. Orders Up To A Yearlong Break On Mortgage Payments
The federal government is telling lenders to lower or suspend mortgage payments for homeowners who have lost income because of the coronavirus outbreak. Mike Segar/Reuters Updated at 2:49 p.m. ET on March 19, 2020 Homeowners [...]
BE CAUTIOUS OF #FALSEADVERTISING & #BAITANDSWITCH #LENDERTACTICS
By Carissa Abazia Here is more information you can share with your clients, colleagues, friends and family who are asking about 0-3% interest rates. Again, mortgage rates are not affected by Sunday's fed rate cuts. [...]
March 16, 2020 – A QUICK NOTE ABOUT WHAT IS GOING ON IN THE MORTGAGE INDUSTRY PART II
By Carissa Abazia The Federal Fund Rate is the overnight borrowing rate that banks get when they borrow money from the federal reserve. This rate was 0.75% last week and now it is 0.00% to [...]
March 16, 2020 – A QUICK NOTE ABOUT WHAT IS GOING ON IN THE MORTGAGE INDUSTRY PART I
By Carissa Abazia The Fed Reserve cut its benchmark interest rate to zero on Sunday, the second such emergency rate cut this year in response to the coronavirus. We wish mortgage rates would be 0%! [...]
14 Things Ridiculously Successful People Do Every Day
By Travis Bradberry Having close access to ultra-successful people can yield some pretty incredible information about who they really are, what makes them tick, and, most important, what makes them so successful and productive. "Whenever you see a [...]
Increase Your Credit Score By Consolidating Your Debt
By Carissa Abazia Consolidating your debt can help increase your credit score. Here’s what you need to know. Increase Your Credit Score A new study from TransUnion explored how debt consolidation loans impact consumer credit [...]
Officials spar with senators over plan for mortgage giants
WASHINGTON (AP) — Trump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would [...]
Could mortgage rates stay below 4% through 2020?
Written by Erik J. Martin The Mortgage Reports Contributor Mortgage rates have been unbelievably low lately. That’s due to several factors, including the Fed’s recent decision to cut interest rates. But will they remain low for long? According [...]
Down Payment + Loan Costs + Other Costs = Cash-to-Close
Written by Carissa Abazia What are closing costs? Closing costs are a combination of lender fees, third-party fees, and fees charged by your state or county for recording or transfer taxes. You will review these [...]