Mortgage applications tank

Mortgage applications tank. USA – The Columbus Day holiday may have closed some lending offices, but rising interest rates are more likely the culprit for weakness in the mortgage market. Total mortgage application volume fell 7.1 percent for the week, according to the Mortgage Bankers Association’s seasonally adjusted report.   Volume was 15 percent lower …

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Home builder pulling back

Home builder pulling back. USA – Home building giant Lennar is reportedly looking to sell its real estate lending arm, Rialto Capital, as builders continue to face a stagnant housing market, The Wall Street Journal reports. Lennar has declined to comment publicly on the recent news reports, but in an investor call last week and …

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Mortgage applications fall

Mortgage applications fall. USA – Extremely weak demand for mortgage refinances has been driving the overall drain on mortgage lending. Refinance volume is highly rate-sensitive, and interest rates are now about a full percentage point higher than they were one year ago. In order to afford more home, more homebuyers are turning to riskier, adjustable-rate …

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Giving Your Child A Mortgage

Giving Your Child A Mortgage. As housing prices continue to climb across the nation’s hottest real estate markets, many young families struggle to buy their first home, particularly in their parents’ more expensive neighborhoods. Wanting to keep their children close, parents, with the financial resources to help, often consider gifting a home to their children. …

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