50-Year Mortgages? Here’s What You Need to Know
A New Idea: 50-Year Mortgages
According to a recent Forbes report, the Trump administration says it’s exploring the possibility of 50-year mortgages as part of a plan to make monthly housing payments more affordable.
It’s an eye-catching headline — a mortgage...
Fannie Mae’s Big Update: You May Qualify Even With a Credit Score Below 620
What’s Changing
Fannie Mae — one of the two major agencies that back conventional mortgages — just made a major update to its Desktop Underwriter (DU) system, the automated tool lenders use to approve home loans.
Until now, most conventional loans required a...
What’s Going On With Mortgage Rates? (Explain-It-to-a-5th-Grader Version)
The 5th-Grader Version
Think of mortgage rates like the price of a bus ticket.
The bus company (the bond market) sets the ticket price based on how many people want a seat and where the bus is headed.
The Fed doesn’t set the bus ticket directly. It makes announcements that can...
Mortgage Rates Jump After the Fed’s Rate Cut — Here’s Why
If you’ve heard that the Fed cut interest rates and wondered why mortgage rates rose instead of fell, you’re not alone. It’s one of the most common misunderstandings in the market—and this week’s Fed meeting was a perfect example of why that happens...
Mortgage Rates Hold Near Yearly Lows as Market Awaits Next Data
Rates Still Near 3-Year Lows
Mortgage rates are holding close to their lowest levels in nearly three years, following a week of modest but steady gains in the bond market. Even though there’s been little major economic data released due to the government shutdown, the broader...
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