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Report Finds Oceanfront and Lakefront Home Values Near Double Median Prices


Nationwide, the typical oceanfront or lakefront, single-family home is worth more than double the median value of all homes, and in some communities the median waterfront house could be worth ten or more times the median value of non-waterfront houses, according to a new analysis by Zillow. In the U.S. at the time of this analysis, the median single-family home was worth about $171,600, while the median waterfront house was valued at $370,900, a waterfront premium of 116.1 percent.Click to continue

Apps for New Home Purchases Down Nine Percent in August

Mortgage Application Pic

The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for August 2014 shows mortgage applications for new home purchases decreased by nine percent relative to the previous month. This change does not include any adjustment for typical seasonal patterns. By product type, conventional loans composed 68.9 percent of loan applications, FHA loans composed 15.7 percent, RHS/USDA loans composed 1.0 percent and VA loans composed 14.3 percent.Click to continue

The 25 Most Connected Mortgage Professionals of 2014

Connected Pic/Credit: Stockbyte

The 25 Most Connected Mortgage Professionals is a list of mortgage professionals selected by their peers and the staff at NMP who are highly connected on social networks and/or have a heavy influence on social media at large. These individuals have a large number of real followers on Twitter, a lot of "Likes" on Facebook or have a very popular blog or video show. In one or more of these respects, they're considered to be one of the mortgage industry's 25 Most Connected Mortgage Professionals.Click to continue

Can the Wealth Building Home Loan Re-Animate the Mortgage Market?


There is no nice way around it: The latest mortgage application data is atrocious. However, the introduction of a new product potentially holds the promise of revitalizing a purchase market that seems to be weakening by the day.Click to continue

Fixed-Rates on Upward Trend Over Last Week


Rates on the most popular types of mortgages moved slighty higher according to's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages (FRMs) rose by four basis points (0.04 percent) to 4.19 percent, returning to levels seen two weeks ago. Conforming 5/1 Hybrid ARM rates increased by three basis points, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.17 percent.Click to continue

All-Cash Sales Account for 30 Percent-Plus of June Home Sales Nationwide

House Atop Money/Credit: Creatas

Cash sales made up 33 percent of total home sales in June 2014, the lowest share since September 2008 (considered the unofficial start of the financial crisis), and down from 36.3 percent in June 2013. While the cash sales share also fell month over month from the 34.4 percent reported in May 2014, cash sales share comparisons should be made on a year-over-year basis due to the seasonal nature of the housing market. The share has fallen year over year each month since January 2013. Prior to the housing crisis, the cash sales share of total home sales averaged approximately 25 percent.Click to continue

Zillow: Fixed-Rates Up Over Last Week

For Sale Sign/Credit: Medioimages/Photodisc

The 30-year fixed-rate mortgages (FRMs) on Zillow Mortgages is currently 4.05 percent, up nine basis points from this time last week. The 30-year fixed mortgage rate gradually increased last week, peaking at 4.19 percent on Saturday before coming down to the current rate.Click to continue

Study Finds 96 Percent of Markets Remain Affordable for Recent Grads

Graduate/Credit: Jeffrey Hamilton

RealtyTrac released a report analyzing the affordability of homeownership for recent college graduates, which found that 96 percent of U.S. housing markets are still affordable for recent graduates making the median household income — even those with student loans.Click to continue

NMP Exclusive: MBA’s Stevens Says Demographics Point to “Significant Shift” in Housing

House_Shadow/Credit: Comstock

The head of the nation’s most prominent mortgage professional trade group has acknowledged that the state of housing is not at the level where it should be. However, he stressed that dramatic changes in U.S. demographics will create a “significant shift” in how the housing finance world operates.Click to continue