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Freddie Mac periodically looks at how and from where homebuyers are managing to acquire their down payments and they did so , particularly first-timers. This week, as the focus of an Insights report, the company says it continues to find that part of the challenge faced by those planning to purchase is their perception of how much money they actually need. A recent survey of individuals planning a purchase within the next three years found that nearly a third thought a 20 percent down payment was required . Over 30 percent of renters and 25 percent of existing homeowners didn't know how much was required but 70 percent said if it were 20 percent it would delay their purchase and nearly 30 percent indicated that amount would prevent them from ever buying. Many also assumed that the down money
Housing News
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Freddie Mac periodically looks at how and from where homebuyers are managing to acquire their down payments and they did so , particularly first-timers. This week, as the focus of an Insights report, the company says it continues to find that part of... (read more)
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Rob Chrisman
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VA mortgage lenders hit with federal subpoenas ? Apparently. Secondary markets (the demand for loans and what investors are willing to pay for them) drive the primary markets: Anything that impacts demand and pricing influence rate sheets. LOs don&rs... (read more)
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MBS Commentary
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In the day just passed, bonds continued to rally as more details about recent trade war drama unfolded. Actually, those details unfolded late Monday and were simply traded yesterday morning. Notably absent from the rally was the MBS marke... (read more)
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Housing News
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Even though mortgages rates have declined over the last several months, consumers remain bearish about buying a home. Fannie Mae said net positive responses to the question about whether it is a good time to buy more than reversed a 7-point increase ... (read more)
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Housing News
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Freddie Mac is undertaking a new initiative designed to align the servicing process to a more customer service focus, especially for distressed homeowners. Yvette Gilmore, Freddie Mac's Vice President of Single-Family Servicer Performance Management,... (read more)
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Mortgage Rate Watch
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Mortgage rates began the day in decent shape after more trade war drama courtesy of a Reuters story overnight. In general, trade war drama pushes stock prices and bond yields (aka "rates") lower. But as we discussed yesterday, mortgage rates hadn't b... (read more)
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