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Keyword: mortgages

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  • 20 Percent of Commercial and Multifamily Mortgage Balances Mature in 2024

    02/17/2024 12:57:35 PM PST · by george76 · 7 replies
    Mortgage Bankers Association’ ^ | February 12, 2024 | Falen Taylor
    Twenty percent ($929 billion) of the $4.7 trillion of outstanding commercial mortgages held by lenders and investors will mature in 2024, a 28 percent increase from the $729 billion that matured in 2023 ... “The lack of transactions and other activity last year, coupled with built-in extension options and lender and servicer flexibility, has meant that many loans that were set to mature in 2023 have been extended or otherwise modified and will now mature in 2024, 2026, 2028 or in other coming years,” said Jamie Woodwell, Head of Commercial Real Estate Research at MBA. “These extensions and modifications have...
  • America will become a renter nation': Grant Cardone warns the US could see 100-year mortgages — says we might even rent our clothes

    01/03/2024 1:39:50 AM PST · by RomanSoldier19 · 42 replies
    Tth elevated interest rates and persistently high home prices, American homebuyers have felt firsthand the squeeze on their budgets. According to real estate mogul Grant Cardone, the necessity for substantially longer mortgage terms is on the horizon. “The savior of America will not be lower prices, it will be longer mortgages,” he said in a recent TikTok video. “In your lifetime, you will see mortgages go from 30 to 40, 50 and maybe even 60 years. You could, if you live long enough, see a 100-year mortgage in America.”
  • US office buildings face $117BN debt time bomb: Mortgages due this year threaten to sink US economy as thousands of workplaces remain empty

    01/02/2024 8:05:20 AM PST · by george76 · 46 replies
    DAILY MAIL ^ | 1 January 2024 | NIC WHITE
    Hundreds of loans on office buildings are about to come due at a very bad time.. Loans were taken out in time of low interest rates and are now hard to refinance.. Too many of the loans defaulting could trigger banking crisis and hurt economy ... About $117 billion worth is expected to be due this year and needs to be repaid or refinanced, ... A big chunk of it is at risk of defaulting and costing banks and developers huge sums, sending some into insolvency. Owners of office space around the country took out their loans when interest rates...
  • WATCH: Forensic Investigator John Thaler Joins Brannon Howse Following EXPLOSIVE Claims That Sinaloa Cartel Uses Bribes, Money Laundering To Control Maricopa County Elections

    02/25/2023 8:45:34 PM PST · by bitt · 27 replies
    gateway pundit ^ | 2/25/2023 | jordan conradson
    Attorney John Thaler joined Brannon Howse with former Arizona State Representative Mark Finchem Friday night on Lindell TV to explain the alleged phony mortgage and real estate transaction scam used by the Sinaloa Cartel to bribe elected officials and control the state of Arizona. The Sinaloa Cartels and the treasonous Americans who work with them are destroying our country by flooding Arizona with dangerous drugs and crime. The Gateway Pundit reported that Tempe Police seized over 30 million lethal doses of fentanyl. In 2022, the DEA nationwide seized over 50.6 million deadly fentanyl-laced fake prescription pills and over 10,000 pounds...
  • Housing expert: 8% mortgage rate 'does not seem unlikely' after rates remain at 23-year high

    10/05/2023 7:49:09 PM PDT · by lasereye · 40 replies
    Yahoo Finance ^ | October 5, 2023 | Gabriella Cruz-Martinez
    Mortgage rates jumped again this week — remaining at a 23-year high and increasing the likelihood that rates could soon hit 8%. The rate on the average 30-year fixed mortgage increased to 7.49% from 7.31% the previous week, according to Freddie Mac, following the yield of the 10-year Treasury, which spiked to a 16-year high this week. Rates are at their highest point since December 2000 for a second week in a row, with few signs of softening. Steeper rates continue to smother homebuyer demand, forcing the price-conscious to the sidelines. Meanwhile, those still on the hunt leaned on lower-rate...
  • Mortgage interest rates surge past 7%, hit highest level since 2002

    08/17/2023 6:33:35 PM PDT · by lasereye · 12 replies
    Los Angeles Times ^ | AUG. 17, 2023 | BY ANDREW KHOURISTAFF
    Home mortgage rates have surged past 7%, hitting the highest level in more than 20 years and dealing another blow to Americans trying to break into the housing market. The average rate on the popular 30-year fixed mortgage was 7.09% this week, up from 6.96% last week and the highest since 2002, according to data released Thursday from mortgage giant Freddie Mac. One month ago rates were at 6.78% and for much of the year held in the low-to-mid-6% range. But borrowing costs have been on the rise lately. Inflation is a major driver of mortgage rates and amid continued...
  • As Inflation Cools, Expect A More Competitive Housing Market

    06/22/2023 7:09:06 AM PDT · by millenial4freedom · 34 replies
    Forbes ^ | 06/23/23 | Daryl Fairweather
    Now that inflation is waning, there is hope that mortgage rates will fall to 5% in 2024. These lower rates would make borrowing to buy a home less expensive, but they could make the housing market much harsher for first-time homebuyers. That’s because a drop in mortgage rates would cause an increase in demand, and more demand without more supply is a recipe for competition. Like in 2021, we could see a spike in bidding wars, with the typical home selling above its asking price in record time. First-time buyers should prepare for a challenging road ahead as inflation dies...
  • Katie Hobbs accused of taking Sinaloa Cartel Bribes…

    02/27/2023 10:32:02 AM PST · by Red Badger · 58 replies
    Citizen's Free Press ^ | Posted by Kane on February 27, 2023 12:45 pm
    BREAKING: Katie Hobbs and Runbeck election services have been named as recipients of Sinaloa cartel bribes via deeds of trust and phony mortgages in AZ senate investigation. When are the criminals running this country going to be held accountable? A California-based law firm has accused Arizona Gov. Katie Hobbs, Secretary of State Adrian Fontes, Runbeck Election Services, and a slew of other election officials, mayors, judges, city councilman, and county supervisors in the state of receiving bribes from the Sinaloa cartel. During a Thursday hearing before the Senate Elections and Municipal Oversight & Elections Joint Committee, the principal investigator for...
  • US home listings plunged 21% in April with new homeowners reluctant to be 'locked in' to high mortgage rates

    05/05/2023 3:27:45 AM PDT · by CFW · 32 replies
    Daily Mail ^ | 5/5/23 | Stephen M. Lepore
    Home sales plunged 21 percent in the United States during the month of April, as new prospective homeowners appear to be scared of being 'locked in' to higher mortgage rates. The number of new listings continued what appears to be a trend, as listings are down 31 percent from 2019. The 2019 figure was used as a benchmark as it happened before the pandemic. In April 2021, home listings were up 41.5 percent over 2019. Mortgage rates have gone over 6 percent since September of 2022, causing the once-booming housing market to finally settle.
  • Biden Scheme to Penalize High Credit Scores [semi-satire]

    04/24/2023 10:56:20 AM PDT · by John Semmens · 4 replies
    Semi-News/Semi-Satire ^ | 23 April 2023 | John Semmens
    One of the steps recommended for financial success is to achieve a good credit rating. Showing that you can borrow money and pay it back opens doors for more opportunities. Organizations that have money to lend like this behavior and become more willing to advance the sums needed to finance a home or business. The Biden Administration does not. This week, President Biden signed a decree that will add a $40 per month charge to loans made to credit-worthy borrowers. The funds obtained will be used to subsidize loans to unworthy borrowers. Treasury Secretary Janet Yellen called the cross-subsidy scheme...
  • TUCKER CARLSON: The Biden admin's new rule will punish people with high credit scores

    04/22/2023 10:04:06 AM PDT · by bitt · 21 replies
    foxnews ^ | 4/21/2023 | Tucker Carlson
    Tucker calls out Biden's new equity agenda in home ownership For centuries, politicians in this country assumed that in order to win an election, you had to convince voters to vote for you. You had to make their case. That was called democracy. But the defining strategic insight of the modern Democratic Party is they don't really need to convince anyone of anything. What matters is demographics. To import enough people from elsewhere, people who are financially dependent on you in order to live. That's the story of the state of California. That's why California changed. It's why Texas is...
  • Biden to hike payments for good-credit homebuyers to subsidize high-risk mortgages

    04/19/2023 2:24:19 PM PDT · by grundle · 67 replies
    Washington Times ^ | April 18, 2023 | Dave Boyer
    Homebuyers with good credit scores will soon encounter a costly surprise: a new federal rule forcing them to pay higher mortgage rates and fees to subsidize people with riskier credit ratings who are also in the market to buy houses. Lenders and real estate agents say the changes will frustrate homebuyers with high credit scores and homeowners seeking to refinance because the rule punishes them for their relatively strong financial positions. “The changes do not make sense. Penalizing borrowers with larger down payments and credit scores will not go over well,” Ian Wright, a senior loan officer at Bay Equity...
  • FHA OKs Modifying Mortgages To 40-Year Terms

    04/06/2023 12:32:39 PM PDT · by EBH · 52 replies
    The Federal Housing Administration (FHA) announced Wednesday that it’s increasing the maximum term for a mortgage modification to 40 years or 480 months. The previous term limit was 30 years or 360 months. The federal agency suggested the move would protect borrowers against default if they had lower monthly payments. The new regulation aims to help homeowners retain their homes after defaulting by allowing mortgagees to further reduce the borrower's monthly payment, since the outstanding balance would be spread over a longer time frame. The change will align FHA with modifications available to borrowers with mortgages backed by the Federal...
  • 270,000 homebuyers who bought in 2022 are underwater on their mortgage

    12/09/2022 4:38:12 PM PST · by george76 · 43 replies
    Yahoo ^ | December 6, 2022 | Gabriella Cruz-Martinez
    About 270,000 homebuyers who bought during the red-hot housing market this year already owe more than their house is worth... Among the 450,000 underwater borrowers in the third quarter, nearly 60% had mortgages originated in the first nine months of 2022... That's about 1 in 12 homes purchased in 2022 with a mortgage, or 8%. Nearly 40% of homes bought this year have less than 10% of equity left to tap. The figures reflect yet another fallout from rapidly rising mortgage rates this year, which have put pressure on housing values as home price growth cools at a record pace...
  • Green Man! Mortgage Rate Remains Steady Ahead Of Dec 14th Fed Meeting (Part Of The Bigger Slowdown Picture, Not Government Policy) 50 BPS Increase Expected

    12/08/2022 9:40:30 AM PST · by Kaiser8408a · 4 replies
    Confounded Interest ^ | 12/08/2022 | Anthony B. Sanders
    The good news for Americans? The global slowdown is helping to lower US Treasury yields which, in turn, helps to help to lower US mortgages rates. Kind of a perverse “good news” story when you think about it. The bigger picture is the slowdown caused by 1) a global economic slowdown and 2) the tightening of Fed monetary policy to fight inflation. Look at the Case-Shiller national home price growth YoY (blue line) against M2 Money growth YoY (green line). Just move the green line to the right and it covers home price growth. Both are slowing down with anticipated...
  • US Mortgage Rates Fall a Fourth Week, Longest Stretch Since 2019 (Mortgage Applications Rise, But Refi Apps Remain Low -86% YoY And Purchase Apps Are Down 40% YoY)

    12/07/2022 5:45:44 AM PST · by Kaiser8408a · 2 replies
    Confounded Interest ^ | 12/07/2022 | Anthony B. Sanders
    The US mortgage market is like Mussgorsky’s Pictures at an Exhibition. Where are the paintings are bad. US mortgage rates fell for a fourth week in a row, the longest such stretch of declines since May 2019. The contract rate on a 30-year fixed mortgage eased 8 basis points to 6.41% in the week ended Dec. 2, still the lowest since mid-September, according to Mortgage Bankers Association data released Wednesday. Rates have retreated for the past month as the Federal Reserve has signaled it will soon slow down the pace of interest-rate hikes, likely at next week’s policy meeting. Even...
  • Fed Dead Redemption! Blackstone’s $69 Billion Real Estate Fund Hits Redemption Limit (Equity REITs DOWN -23.6% In 2022, Mortgage REITs DOWN -28.6%)

    12/03/2022 7:39:19 AM PST · by Kaiser8408a · 8 replies
    Confounded Interest ^ | 12/03/2022 | Anthony B. Sanders
    As The Federal Reserve continues its assault on inflation by raising their target rate, Blackstone Inc.’s $69 billion real estate fund for wealthy individuals said it will limit redemption requests, one of the most dramatic signs of a pullback at a top profit driver for the firm and a chilling indicator for the property industry. Blackstone Real Estate Income Trust Inc. has been facing withdrawal requests exceeding its quarterly limit, a major test for the one of the private equity firm’s most ambitious efforts to reach individual investors. The news, in a letter Thursday, sent Blackstone stock falling as much...
  • UK lenders pause new mortgages amid market turmoil

    09/27/2022 1:18:13 PM PDT · by EBH · 7 replies
    Virgin Money and Skipton among those to suspend loans as wholesale rates whipsaw Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://www.ft.com/tour. https://www.ft.com/content/a549fabb-da75-4935-a567-7128b7b04b76 Some of the UK’s biggest mortgage lenders, including Virgin Money and Skipton Building Society, have stopped offering new home loans in response to the market...
  • Bank of America announces zero down payment, zero closing cost mortgages for first-time homebuyers in Black and Hispanic communities nationwide

    09/01/2022 8:31:56 AM PDT · by mikelets456 · 130 replies
    NBC ^ | 9/1/2022 | NBC
    Bank of America said it is now offering first-time homebuyers in a select group of cities zero down payment, zero closing cost mortgages to help grow homeownership among Black and Hispanic/Latino communities. The option will first become available in certain neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. The new mortgage, called the Community Affordable Loan Solution, aims to help eligible individuals and families obtain an affordable loan to purchase a home, the bank said. Applicants do not have to be Black or Hispanic to qualify for the product, a bank representative said. “Homeownership strengthens our communities and can...
  • Bank of America Introduces Community Affordable Loan Solution™ to Expand Homeownership Opportunities in Black/African American and Hispanic-Latino Communities

    08/30/2022 9:01:16 AM PDT · by karpov · 57 replies
    PR Newswire ^ | August 30, 2022
    Bank of America today announced a new zero down payment, zero closing cost mortgage solution for first-time homebuyers, which will be available in designated markets, including certain Black/African American and/or Hispanic-Latino neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. The Community Affordable Loan Solution™ aims to help eligible individuals and families obtain an affordable loan to purchase a home. The Community Affordable Loan Solution is a Special Purpose Credit Program which uses credit guidelines based on factors such as timely rent, utility bill, phone and auto insurance payments. It requires no mortgage insurance or minimum credit score. Individual eligibility...