I got active on Twitter over the past year and change and to my surprise (not sure why it’s surprising really), encountered lots of housing bears on the platform. Many were/still are convinced that the next housing crash is right around the corner. The reasons vary, whether it’s an Airbnbust, a high share of investor… Read More »Will the Housing Market Crash in 2025? The post Will the Housing Market Crash in 2025? appeared first on The Truth About Mortgage ..read more

By now you’ve heard the news. President Biden dropped out of the 2024 presidential race and paved the way for current VP Kamala Harris to run in his place. That was big news that shook up the election overnight, and now there is a renewed focus on Harris, including her financial disclosures. The WSJ ran… Read More »Presidential Candidate Kamala Harris Has a 7-Year Adjustable-Rate Mortgage The post Presidential Candidate Kamala Harris Has a 7-Year Adjustable-Rate Mortgage appeared first on The Truth About Mortgage ..read more

Want to hear some good news about mortgage rates that involves them being a lot higher than they previously were? Yes, I know that sounds absurd, but hear me out. There are now millions more mortgages that feature rates above 6.5%, and many with rates above 7%. There are also millions less that feature rates… Read More »More Than 4 Million Mortgages Originated Since 2022 Have Rates Above 6.5% The post More Than 4 Million Mortgages Originated Since 2022 Have Rates Above 6.5% appeared first on The Truth About Mortgage ..read more

They say to never say never. But why? Because if you say it, whatever you said would never happen typically happens. Go figure. Well, speaking of, Fannie Mae chief economist Doug Duncan recently said barring a “catastrophic economic event,” not to expect mortgage rates to return to 3% in our lifetimes. I wrote about it… Read More »Will Mortgage Rates Ever Go Back Down to 3% Again? The post Will Mortgage Rates Ever Go Back Down to 3% Again? appeared first on The Truth About Mortgage ..read more

Mortgage Q&A: “Can I mortgage a house that is paid off?” When you own a home without any associated mortgages, it’s known as a “free and clear” property. Some view this as a good thing, while others see mortgages as a good debt that doesn’t need to be paid off ahead of schedule (or ever).… Read More »Can I Mortgage a House That Is Paid Off? The post Can I Mortgage a House That Is Paid Off? appeared first on The Truth About Mortgage ..read more

I’ve heard this argument many times, whether in real life or on social media. That if you hold a mortgage (or two), you don’t actually OWN your house. The logic is that the bank/lender is the one that truly owns the property because they lent you the money to purchase the property. And you must… Read More »If I Have a Mortgage, Do I Actually Own My House? The post If I Have a Mortgage, Do I Actually Own My House? appeared first on The Truth About Mortgage ..read more

In case you missed it, the Federal Housing Finance Agency (FHFA) granted conditional approval to Freddie Mac to purchase single-family closed-end second mortgages. What this means is lenders will now be able to originate second mortgages and sell them off to one of the two government-sponsored enterprises (GSEs). Arguably, this should improve access to such… Read More »Freddie Mac’s Pilot Program to Buy Second Mortgages Probably Isn’t a Big Deal The post Freddie Mac’s Pilot Program to Buy Second Mortgages Probably Isn’t a Big Deal appeared first on The Truth About Mortgage ..read more

If you’re currently thinking about buying a home, or somehow in a position to refinance an existing loan, current mortgage rates don’t look great. While they might not be as high as they were in the 1980s (when they averaged 18%), the rapid ascent from sub-3% to 7% is no doubt painful. The obvious issue… Read More »The Other Major Downside to a Higher Mortgage Rate (Aside From the Payment) The post The Other Major Downside to a Higher Mortgage Rate (Aside From the Payment) appeared first on The Truth About Mortgage ..read more

You may have heard that the nation’s largest mortgage lender just rolled out a zero down mortgage. If you were around for the housing market crash in the early 2000s, it could feel like déjà vu. And not in a particularly good way. After all, it was toxic home loans that sunk the market then,… Read More »Is a 0% Down Home Purchase Much Different Than a 3% Down Purchase? The post Is a 0% Down Home Purchase Much Different Than a 3% Down Purchase? appeared first on The Truth About Mortgage ..read more

When you apply for a home loan, an underwriter will review your file in order to make a lending decision. They can approve your loan, deny your loan, or possibly suspend your loan pending additional information. The two most common outcomes are approval and denial, but even an approved loan is typically “conditional.” This means… Read More »What Is a Conditional Loan Approval? The post What Is a Conditional Loan Approval? appeared first on The Truth About Mortgage ..read more