Author: badmortgage
Rates for home equity lines of credit and home equity loans are sticking close to three-year lows. Homeowners are sitting on a pile of equity, as home prices have risen for years. The forecast from real estate data firm Cotality predicts U.S. home prices will increase yet again 4.7% year-over-year by February 2027. Today’s national average monthly HELOC adjustable rate is 7.20%. The average fixed rate on a home equity loan is 7.47%, according to data analytics company Curinos. Both rates are based on applicants with a minimum credit score of 780 and a maximum combined loan-to-value ratio (CLTV) of…
Factors influencing current mortgage ratesToday’s mortgage rates are influenced by economic and market conditions, as well as personal factors. The rate you’re quoted by a lender might be higher or lower than the national average. Here are some of the items considered when calculating your mortgage rate:10-year Treasury yield: Current mortgage rates, especially on a 30-year fixed-rate mortgage, are related to movements in the 10-year Treasury yield. Mortgage-backed securities: The rate investors earn on mortgage-backed securities also plays a role. Spreads between mortgage-backed securities and Treasury yields, as well as between what lenders offer borrowers and mortgage-backed security rates, impact current…
The Federal Home Loan Bank needs to offer more loans.
LegalShield data shows a sharp increase in legal requests tied to housing and debt, indicating rising financial pressure among American households. In the first quarter of 2026, foreclosure-related inquiries reached their highest level since March 2020. The Foreclosure Index rose 13.4% in March alone and is up 20.3% over the past year. This increase reflects a shift from financial concern to legal action. At the same time, LegalShield’s Consumer Stress Legal Index (CSLI), which tracks legal activity across foreclosure, bankruptcy, and consumer finance, stands at 72.9. That figure is up 11.6% year over year, though down 1.9% for the quarter…
After nearly two years of litigation, on March 10, a district court judge ordered an end to a Biden-era loan repayment plan that based repayment rates on borrowers’ income. The Saving on a Valuable Education plan, known as the SAVE plan, had 7.5 million students enrolled nationwide, around 135,000 of them in Wisconsin. Those borrowers now must find a new repayment plan. In a press release issued on March 27 that repeatedly called the SAVE plan illegal, Under Secretary of Education Nicholas Kent said, “For years, borrowers have been caught in a confusing cycle of uncertainty, but the Trump Administration’s…
The owner of NEXA Lending has found a compliant way to give the company’s mortgage originators a financial incentive aligned with the long-term value of the mortgage servicing rights they create. It will also provide its loan officers with business intelligence about those MSRs.
PenFed continues to invest in the future of Puerto Rico by providing financial education to over 5,000 public and private school students TYSONS, Va., April 7, 2026 /PRNewswire/ — PenFed Credit Union and Everfi hosted an interactive learning event focused on improving financial literacy for over 50 12th grade students at Anita Otero Hernandez Specialized School of Fine Arts in Humacao, Puerto Rico on April 9. The students recently completed the “Tu Dinero, Tu Sueño” (“Your Money, Your Dreams”) program, a scalable digital financial education curriculum provided by PenFed through a strategic partnership with Everfi, the trusted leader in connecting businesses and communities…
Prospective buyers view the backyard of a home during an open house in Seattle, Washington, US, on Sunday, Jan. 18, 2026. David Ryder | Bloomberg | Getty ImagesMortgage rates finally ticked a tiny bit lower last week, but not enough to help the ailing mortgage market. Economic uncertainty, fueled by the Iran war, is keeping rates elevated and homebuyers on the fence. As a result, total mortgage application volume fell 0.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances,…
(Image credit: Getty Images)If you need cash for a major expense, you might be considering tapping your home equity. With a home equity line of credit (HELOC), a home equity loan or a cash-out refinance, you can access the equity in your home and use that money for renovations and other expenses.But it’s more important than ever to understand the potential risks that come with tapping your home equity. According to the Intercontinental Exchange Mortgage Monitor report, Americans hold approximately $17 trillion in total equity, with about $11 trillion tappable.High home values and limited inventory have resulted in equity-rich but…
The Ohio State athletic department is no longer relying on operating funds to repay the tens of millions of dollars due on the loan it received from the university to help cover revenue losses related to the coronavirus pandemic.The change took effect this year and allows the department to use endowment returns for the remaining repayments, preserving almost $2 million annually in operating costs.While the original terms of the $48 million internal loan included the endowment as a source for repayments, the department had been leaning on operating dollars to service the debt in recent years.According to a ledger obtained…