Mortgage Banker Kevin Fiske - 50 States Nmls#352537

08/15/2023

The Oracle of Omaha pus his money where his mouth is….

https://fortune.com/2023/08/15/housing-market-warren-buffett-loads-up-on-homebuilder-stocks-dr-horton-lennar-nvr/amp/

02/22/2023

FHA
Good news!

https://www.housingwire.com/articles/fha-cuts-mip-by-30-bps-mortgage-industry-cheers/?utm_campaign=Newsletter%20-%20HousingWire%20Breaking%20Alerts&utm_medium=email&_hsmi=247228009&_hsenc=p2ANqtz--pQ3G_bTXQfyx7z_nhVA_J0OdTyysxrsc9zqeUDMM8P0ejcaE-YlEp4JqP-h5Sq4qGM9SfAIII_jImsBG3xrUoZ4p36g&utm_content=247228009&utm_source=hs_email

02/01/2023

The Feds make another move to fight inflation.

https://www.wsj.com/amp/livecoverage/federal-reserve-meeting-interest-rate-hike-february-2023

01/25/2023

Realtors win against Fed Gov

NAR victorious in renewed DOJ antitrust probe

U.S. District Court judge rules that the terms of the NAR's earlier settlement with the DOJ are still valid.

01/19/2023

Mortgage Costs Nationwide To Change

FHFA announce pricing changes on loans for Fannie & Freddie
Impacting majority of home mortgages(excluding VA, FHA & Non Conforming)

In a single moment, the fees for a vast majority of new mortgages in the US have changed.  In some cases, the changes are drastic, both for better and worse.  Let's break it down. What do you mean by "fees/costs?"   This refers to Loan Level Price Ad...

12/29/2022

25 Most Neighborly Cities In America

Who made the cut?
&
Who didn’t?

Think your city is a haven for happiness and charitable giving? Find out if it made the list of the country's most neighborly places.

12/21/2022

US Senate passes VA Modernization Bill

🎉🎉🎉

Streamlining the VA Home buying process for Veterans!
🇺🇸🇺🇸🇺🇸

They deserve. This is long overdue.
Hopefully this sways those Listing Agents that turn their noses up at VA offers.

👍🏻👍🏻

Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement on the passage of H.R. 7735, the Improving Access to the VA Home Loan Benefit Act of 2022, by the U.S. Senate:

11/15/2022

Mortgage Credit Availability hits lowest mark since 2013

Folks still want to buy. They still can. They have options. Increased rates + Home values equals a tougher market.
Buying still makes better sense than renting long term.

This is what I expected. This is NOT a bubble like we saw in the past.

Reach out if you have any questions. We can help. 🏠🏠🏠

"Much higher mortgage rates and the worsening outlook for the housing market and economy are behind the continued tightening in credit availability,” said Joel Kan, MBA’s Vice President and Deputy Chief Economist. “Lenders continue to reduce their capacity and are eliminating some loan offerings, including certain types of refinance loan products and others that require less than full borrower documentation.”

The Mortgage Bankers Association (MBA) collects data on borrower eligibility (FICO, loan type, LTV, etc) and combines that with underwriting guidelines to determine whether mortgages are getting easier or harder to obtain.  The result is the Mortgage Credit Availability Index (MCAI), and it...

10/20/2022

Housing Market Update
🏠🏠🏠

NAR

10/19/2022

Mortgage Applications hit a 25 year low!

While rates hit the highest point in 20 years.

“The current 30-year fixed rate is now well over three percentage points higher than a year ago, and both purchase and refinance applications were down 38 percent and 86 percent over the year, respectively.”

Nationwide housing markets still face considerable inventory shortages.

Average loan amounts resumed an upward trend. Purchase mortgage sizes rose from $399,100 the prior week to $402,600. The average for all loans increased to $366,000 from $360,400.

(Data from MBA)

Mortgage application activity fell again during the week ended October 14 as mortgage interest rates hit their highest level in 20 years. The Market Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 4.5 percent on a seasonally adjuste...