Browsing Tag:Register

how-mortgage-charges-hit-18-5-40-years-in-the-past-immediately-orange-county-register
Forty years ago today, US mortgage rates hit 18.5%.That breathtaking reading of the average 30-year fixed rate mortgage reading on October 16, 1981 came during a period of steep inflation. A bold move by the Federal Reserve used economic shock therapy to freeze consumer prices, which rose 14%.The Fed's tough love tactic worked and inflation cooled off, with...
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mortgage-lenders-boosting-jumbo-mortgage-limits-2-months-earlier-than-regulator-orange-county-register
Lenders are dangling a godsend for those in the market looking to buy or refinance a home for more than $ 548,250 now, skipping the expected November credit limit hikes.Several aggressive mortgage lenders are issuing larger remaining loans without burdening customers with the quarter percent difference between a compliant loan and a high balance loan.United Wholesale Mortgage, PennyMac, and...
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hud-publishes-in-federal-register-concerning-reverse-mortgage-index-shift-nrmla-feedback
Recently, the US Department of Housing and Urban Development (HUD) revised the Model Home Equity Conversion Mortgage (HECM) to accommodate a potential interest rate index shift described in a notice published on the Federal Register.HUD asked stakeholders for comments on this move, and the National Reverse Mortgage Lenders Association (NRMLA) responded with a letter outlining the industry's perspective on...
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mortgage-charges-flat-30-year-stays-at-2-73-orange-county-register
Mortgage rates remained unchanged near record lows for a second straight week as the economy, particularly in the services sector, continues to be hit by the coronavirus pandemic.Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year fixed-rate home loan remained at 2.73% last week. In contrast, the rate a year ago was 3.47%.The...
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