Saturday, October 23
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Mortgage News

United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2%

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The leading wholesale mortgage lender in the nation has brought the heat once again, this time offering 30-year fixed mortgage rates below 2% on FHA loans. United Wholesale Mortgage announced that borrowers can now lock in interest rates as low as 1.99% on FHA-backed loans via its popular Conquest program. The new Conquest for FHA [&hellip The post United Wholesale Mortgage Now Offering FHA Loans with Rates Below 2% first appeared on The Truth About Mortgage.Source: thetruthaboutmortgage.com

It’s Taking a Really Long Time to Get a Mortgage Right Now

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Similar to the increased waiting times to get a COVID-19 test these days, it’s taking an extended amount of time to get a mortgage to the finish line. The reason is simply unprecedented demand, just like those COVID-19 tests. The more people that need one, the longer the wait, period. This is the downside to [&hellip The post It’s Taking a Really Long Time to Get a Mortgage Right Now first appeared on The Truth About Mortgage.Source: thetruthaboutmortgage.com

Don’t Freak Out About the Recent Mortgage Rate ‘Spike’

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Queue the panic. Mortgage rates have officially spiked and the media is all over it. Yep, the average rate on a 30-year fixed mortgage increased from 2.65% to 2.79% this week, per Freddie Mac’s weekly survey. Freddie Mac Chief Economist Sam Khater noted in the weekly news release that mortgage rates have been under pressure [&hellip The post Don’t Freak Out About the Recent Mortgage Rate ‘Spike’ first appeared on The Truth About Mortgage.Source: thetruthaboutmortgage.com

Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows

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Mortgage rates can be pretty volatile. Just like stocks, they can change daily depending on what’s happening in the economy. Beyond that, mortgage rates can move based on news that doesn’t involve a report on the economic calendar, such as a jobs report, GDP, housing starts, inflation, etc. Even if there isn’t a direct financial [&hellip The post Mortgage Rates vs. the Coronavirus: We Might Test New All-Time Lows first appeared on The Truth About Mortgage.Source: thetruthaboutmortgage.com

2021 Conforming Loan Limit Rises to $548,250

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Thanks to another year of stellar home price appreciation, the 2021 conforming loan limit will increase to $548,250, per the Federal Housing Finance Agency (FHFA). This is the maximum loan amount for mortgages that can be acquired by Fannie Mae or Freddie Mac, known as conforming mortgages. The figure is up from $510,400 for mortgages [&hellip The post 2021 Conforming Loan Limit Rises to 8,250 first appeared on The Truth About Mortgage.Source: thetruthaboutmortgage.com