Average Mortgage Payments Have Risen 90% In 3 Years. This Due To 20-Year High Interest Rates, Skyrocketing Values And Post Pandemic Inflation Real estate experts say average mortgage payments have risen 90% since December 2020. They’re telling potential homeowners to buy now because housing cost will continue to rise. They attribute the increase of costs […]
Mortgage Rates Are Inching Closer To 7%. Rates Are Up 13 BPS In Less Than 24 Hours. Is There Really A Recession Coming? Mortgage rates are inching closer to 7% and here is why. Economic data indicates that the economy has remained resilient. This is despite the Federal Reserve tightening monetary policy and raising rates. […]
The Fix-And-Flip Lender Eliminated 39 Positions To Ensure It Can Survive Through 2023 Fix-And-Flip lender Kiavi has laid off 7% of it’s employees. Kiavi specializes in fix-and-flip and investor loans. An email sent to employees on Wednesday morning said Kiavi wanted to, “reduce our cost structure and protect the financial health of the company.” Kiavi’s […]
PennyMac Tries To Stop Mass Exodus Of Customers By Offering 90 Day Rate Locks PennyMac has launched a product that will freeze mortgage rates for as long as 90 days. The California based lender is hoping to attract attract and retain customers in a volatile economy. PennyMac has dubbed the program “Lock & Shop.” The […]
Federal Reserve Chair Says A Double-Size Rate Hike Is On The Table In May. Thus, Making Mortgages, Car Loans, And Credit-Card Interest More Pricey. Federal Reserve Chair Jerome Powell said Thursday that the fed will soon issue a double-size rate hike. The central bank wants to ramp up its fight to cool inflation. The Fed’s […]
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