Mortgage Insights

Get the latest mortgage news and other insights into the home loan industry from the at Bank of Internet USA.

 

The Importance of Understanding Points

Jun 26, 2017 - When buying a home, it is important to understand all the components of a mortgage payment. In addition to the principal balance, you will pay interest on any money that you borrow. If you can lower your interest rate, you may be able to save money on the overall cost of the loan. One way to...

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Millennials Starting to Catch Up with Homeownership, Says Economist

Jun 23, 2017 - The US housing market is remarkably strong right now, and homes cannot keep up with demand. This is a classic seller’s market with rapidly increasing prices. With house prices approaching record levels and mortgage rates increasing, there are not many bargains available. How is this affecting...

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Mortgage Rates Remain in Exceptionally Tight Range

Jun 22, 2017 - For the biggest part of June, US mortgage rates have been trapped in an unusually tight range, particularly during the last five days. These rates are largely determined by bond markets, where trading levels go up and down all the time, so it might be worthwhile at this stage to look at what has...

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Mortgage Default Rate Approaching Lowest Level in 13 Years

Jun 21, 2017 - According to a new report from Experian and the S&P Dow Jones Indices, fewer homeowners are defaulting on their first mortgages than at just about any other time during the past 13 years. The Consumer Credit Default Indices showed a default rate of just 0.64% for first mortgages in May. That...

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Realtor Case Study 1 – Departing Residence

Jun 19, 2017 - Lending Challenge          A Realtor presented us a borrower needing to relocate quickly for work. Her family was packed and ready to move. With their new home on the market, priced aggressively to sell, they started shopping for a new home. They...

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