Here in the Milwaukee area (yes, the autumn colors are stellar), I attended a Newrez joint venture event and one of the conversation topics (besides lenders either saying “no mas” and exiting or being purchased, more below, or NAR’s legal events, more below) is the changing landscape of down payments and down payment assistance programs. STRATMOR’s current blog is titled, “Mind the Down Payment”. Despite high mortgage rates and low buyer demand, home prices are still at record highs in many parts of the country leading to higher down payments. LendingTree analyzed data from more than 580,000 users of our platform who lived in one of the nation’s 50 largest metropolitan areas. A down payment on a home across the nation’s 50 largest metros averages $84,499. While down payments vary significantly by location, no metro in this year’s study has an average of less than $47,900. California is home to the three metros where down pa
/PRNewswire/ Crown Home Mortgage, a division of Absolute Home Mortgage Corporation and a leading provider of residential mortgage services, is pleased to.
Dang there’s a lot going on in Texas. One week it’s raining “hail the size of goat balls” (not my term; it was the phrase used by the woman mortgage banker who wrote me), the next week the state is experiencing a heat “dome” while malaria is in the headlines and a San Antonio airport ramp worker was sucked into a jet engine (ruled a suicide). Meanwhile, per the latest report from the Dallas Fed, “Texas home prices have headed steadily higher, a byproduct of rising housing demand and pandemic-related supply shortages.” For any originator interested in demographics like that, on a national scale, in doing some work for The STRATMOR Group I came across the article, “The Racial Segregation of American Cities Was Anything but Accidental.” And in the capital markets, mortgage rates have gone up faster than the 10-year. The spread between the 30-year fixed rate mortgage and the 10-year bond yield has surpassed the highs of