At the same time, the increase in interest rates drove fewer borrowers to refinance their loans, according to the Mortgage Bankers Association.

The Low-Income First Time Homebuyers Act (LIFT) establishes a program to sponsor 20-year mortgages that would build equity at twice the rate of a conventional 30-year mortgage.

“The net result for housing is that these low and stable rates allow consumers more time to find the homes they are looking to purchase,” Freddie Mac Chief Economist Sam Khater said.

Two of the largest leaders in the real estate market are joining forces to form a new mortgage origination company.

Homebuyers lucky enough to win a bidding war for a property are increasingly running headlong into appraisals that don’t match — or even come close to — the agreed sales price, leaving them with limited ways to close the sale.

“Demand is robust throughout the country, but homebuyers continue to be held back by the lack of homes for sale and rapidly increasing home prices.” — MBA Associate Vice President of Economic and Industry Forecasting Joel Kan

“This is a sign that the competitive purchase market, driven by low housing inventory and high demand, is pushing prices higher and weighing down on activity.” — Mortgage Bankers Association Associate Vice President of Economic and Industry Forecasting Joel Kan.

The new technology streamlines workflow in the mortgage industry.

“The consistent decline in serious delinquency since August is a sign of growing financial stability for families,” said Frank Martell, president and CEO of CoreLogic.

The trend of purchasing a second home has sent home prices in seasonal towns skyrocketing in value by 19% for the year ending December 2020.

Super Bowl time is almost here, and for those who enjoy the commercials as much as the game, keep an eye out for a new ad from retail mortgage lender Guaranteed Rate. The ad is part of their national

Both the way appraisers approach their work and the adoption of AVMs and other technology-based valuations will likely see major changes in the coming years, according to experts.

Some homeowners worry that, after a few months of forbearance, they’ll be required to pay everything they owe upfront, in one lump sum.

But beware of the busy times: Customer satisfaction rates drop when loan volume increases.