HousingWire has a piece today on a recently discovered--and quickly shut down--scam involving law firms trying to bilk homeowners who are in the process of foreclosure out of money. You can read more, here.
The Boston Globe reports that mortgage rates are at their lowest point since 2013, and refinance activity is up. Mike Fratantoni, MBA chief economist, said ‘‘Conventional refinance application activity picked up slightly due to the rate drop, but purchase activity dropped sufficiently to cause an overall drop in mortgage application volume for the week."More, here.
CBS news has an article today on the 5 things Realtors wish buyers wouldn't do. Yes, it is broadly generalized, but it's worth your perusal. In a nutshell, being overly picky, closed-minded, slow to act, or grossly underbidding are all behaviors that Realtors begrudgingly deal with often. More, here.
Bankrate has a new article about recent FHA loan guidelines in relation to student loan debt. Government-backed student loans are generally deferred while the student is in school and for 6 months after. The FHA used to exclude student loan debt from borrowers' DTI (debt-to-income), but that has changed. More, here.
Nearly 75% of students paying off student loans are having trouble buying a home. In an article published today, The Washington Post examines the financial insecurity those with student debt feel, and a recent survey that The National Association of Realtors conducted along with the nonprofit American Student Assistance. More, here.