Mortgage Direct Inc.

03/05/2021

Today’s Mortgage Interest Rates: Party’s Over? Rates Top 3%

Natalie Campisi Forbes Advisor Staff

Say goodbye to sub-3% mortgage rates—at least for now. The average rate on a 30-year fixed-rate mortgage is 3.02%, the first time in nearly eight months it’s broken the 3% barrier.

This is not a surprising development. Many experts predicted rates would rise in 2021, buoyed by more stimulus relief and Covid-19 vaccine rollout. That’s exactly what’s happening.

https://www.blink.mortgage/app/signup/p/mortgagedirectinc/guscontos

Sign up, apply and start closing your loan now.

03/02/2021

Exciting to see this as the industry continues to grow.

Homepoint Financial creates chief diversity and inclusion officer position, PennyMac appoints CEO to two chairman roles and more of the latest hiring and promotion announcements in the mortgage industry.

02/25/2021

https://www.cnbc.com/2021/02/24/biden-administration-may-undo-certain-trump-era-mortgage-rules-.html

The CFPB said Tuesday it may rewrite or undo Trump-era rules for certain mortgages. Consumer groups say those rules may lead banks to make riskier loans.

02/22/2021

Mortgage and refinance rates have gone up a tad since last Monday, though they are still at historic lows overall.

You may consider going for a fixed-rate mortgage instead of an adjustable-rate mortgage if you're looking to buy a home or refinance.

Mat Ishbia, CEO of United Wholesale Mortgage, told Insider that fixed-rate mortgages are currently a better deal than adjustable-rate mortgages.

Adjustable rates start higher than fixed rates currently, and you may face a future rate increase with an ARM. You might want to lock in a low rate while possible.

Excerpt from: Business Insider 2/22/21

02/21/2021

A homeowner reaching 62 can begin converting home equity into spendable funds by taking out a HECM reverse mortgage
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Read article https://reversemortgagedaily.com/2021/02/18/forbes-why-reverse-mortgages-can-help-against-property-value-risk/

02/19/2021

Apply - https://tinyurl.com/MortDirInc

Don’t miss the next drop in rates. Get your application in and ready to process.

https://www.businessinsider.com/personal-finance/mortgage-refinance-rates-today-february-18-2021-2 's-mortgage-refinance-rates:-thursday,-february-18,-2021

Mortgage rates are on the upswing today, but they remain at all-time lows. It could be a good time to lock in a low rate.

02/18/2021

Best to act quickly as rates are changing daily. Rates seem to climb and drop daily.

Mortgage interest rates have increased in four of the first six weeks of 2021, putting a chill on mortgage demand.

02/11/2021