Posted To: MND NewsWireTaking out a mortgage with an origination balance higher than whatever the conventional loan limit was at the time used to be an expensive proposition. Home buyers and refinancers had an incentive to do whatever they could – higher down payments, piggy back second mortgages – to get their loan under that … Read moreJumbo Loans Back in Style?
Posted To: MND NewsWireFannie Mae’s 3% down payment HomeReady program was rolled out in 2016. HomeReady has numerous advantages over FHA loans (historically the most common “low down payment” option) and other conventional loans. We’ll compare them in this series. Today, let’s look at mortgage insurance costs: No upfront mortgage insurance premium: While both HomeReady … Read moreHomeReady: Several Big Advantages Over FHA
Posted To: Mortgage Rate WatchMortgage rates caught a break to end a week that was otherwise spent moving higher. Although we did see a bit of improvement in underlying bond markets yesterday, lenders were still getting rate sheets caught up with Wednesday afternoon’s bond market weakness. As such, we were left with a decent trading … Read moreMortgage Rates End Week Near Best Levels
Posted To: MBS CommentaryAugust began with bond yields moving down from 3%, effectively keeping them in a sideways-to-slightly higher trend that arguably dates back to January. The trend may have taken a break in the spring as yields tested a move over 3.10%, but geopolitical considerations and trade tensions quickly caused traders to rethink it. … Read moreMBS RECAP: Bonds Sneak Into September Unnoticed