Delivered to over
70,000+ industry professionals
each day, the Daily Newsletter is the
definitive recap of the day's most
relevant mortgage and real estate news and data. View the latest Newsletter below.
View our most recent newsletter below, or use the date selector to view past newsletters.
Conventional wisdom, according to the Urban Institute (UI), holds that small mortgages are riskier than large ones. That may be one reason that only one out of four homes sold for $70,000 or less in 2015 was financed with a mortgage compared to 80 percent of those sold for $70,000 to $150,000. Sarah Strochak and Alanna McCargo, writing in UI's Urban Wire blog say there are more than 600,000 homes for sale nationwide priced under $70,000, but it is hard for buyers to arrange financing because of the perception that the buyers of these homes have worse credit profiles and their loans don't perform as well. The two analysts have completed research which they say debunk this myth. Looking first at credit profiles, they found that those buyers who have been able to obtain small dollar mortgages
Rob Chrisman
|
|
How often do you buy candles at retailer Pier 1? Me neither. Due to poor earnings Pier 1 Imports announced it will close another 45 stores (up to 150 if certain targets are not met). Sometimes reporters are prone to sensationalizing things (watch the... (read more)
|
|
Housing News
|
|
Conventional wisdom, according to the Urban Institute (UI), holds that small mortgages are riskier than large ones. That may be one reason that only one out of four homes sold for $70,000 or less in 2015 was financed with a mortgage compared to 80 pe... (read more)
|
|
MBS Commentary
|
|
We can go years at a time without so much as a mention of Australia--at least not as it relates to the global economy. But now for the 2nd time in as many weeks, we've seen a noticeable market impact from the goings on in the merry old land of ... (read more)
|
|
Housing News
|
|
Rising interest rates continued to take a toll on mortgage applications during the week ended April 19. Even purchase mortgage volume fell victim to the increasing rates after rising for six consecutive weeks. The Mortgage Bankers Association (MBA) s... (read more)
|
|
MBS Commentary
|
|
With each passing day this week, we're reminded that the most important events are yet to come. In fact, we may well be looking at only one significant event in the form of Friday's Q1 GDP reading. There are a few other contenders before ... (read more)
|
|
Mortgage Rate Watch
|
|
Mortgage rates moved lower at their best pace in several weeks today, with the average lender making it back to levels not seen since April 12th. The gains were bigger than normal for two reasons. First, bond markets had improved slightly yesterday a... (read more)
|
|
|
|
|