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first-time homebuyers

Regions Bank Unveils New First-Time Homebuyer Program

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Regions Bank has unveiled its new First-Time Home Buyers Program, designed to help borrowers overcome some of the obstacles that can make buying a first home difficult. The program offers a fixed-rate mortgage with no closing costs to the borrower (excepting pre-paid items). Closing costs are paid by Regions and not rolled into the loan amount.Click to continue

Texas and Colorado Triumph as Havens for First-Time Homebuyers


As the Labor Day weekend marked the unofficial end to summer, the latest mortgage application data reaffirmed a continuing sense of stagnation. But while many mortgage professionals view the fall months as a prime season for new housing activity, one key concern arises on whether first-time homebuyers will be able to participate in the market. In a recent survey, it seemed that Texas and Colorado have taken the lead as the nation’s top states for attracting first-time homebuyers.Click to continue

Do Millenials Know the Value of Homeownership?

With millenials now being the most populous generation inhabiting the planet, we as mortgage professionals face a peculiar challenge in keeping our industry alive. The general idea about millenials, whether or not it's true, is that they aren't really that interested in homeownership. They move around a lot, and change jobs frequently. They aren't interested in "the finer things" like they're parents were. They're economically flexible and not materialistic in the least.Click to continue

Lack of Inventory Equals Long-Term Growth for Your Pipeline

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As I travel across the country, the words I'm starting to hear are "We have a shortage of inventory here.” This is not isolated to any particular area as it's happening almost everywhere.

Recently, I was asked to speak at an office meeting. The sales manager let me sit in on the first 15 minutes where he covered the previous month's production numbers and addressed how the originators were faring compared to their goals. Every one of them was short of achieving their goal. Now store that thought until I finish my next part.Click to continue

Housing Market Showing Signs of Stability Amid Still Uneasy Economy


A pair of new reports issued today—Freddie Mac’s Primary Mortgage Market Survey (PMMS) and Zillow’s first quarter overview on all-cash purchases—offered a view that might suggest housing is showing evidence of stabilizing, even if the economy is still wobbling about. According to Freddie Mac, the 30-year fixed-rate mortgage (FRM) averaged 4.17 percent with an average 0.6 point for the week ending June 19, down from last week when it averaged 4.20 percent. A year ago at this time, the 30-year FRM averaged 3.93 percent.Click to continue

Freddie Mac Finds March U.S. Housing Market Largely Flat

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Freddie Mac has released its Multi-Indicator Market Index (MiMi) showing the U.S. housing market overall largely flat compared to the prior month and especially since last year at this time. Of those markets that are improving or experiencing a stable range of housing activity, most are benefiting from the energy boom taking place along the country's mid-section.Click to continue

Zillow: Housing Markets to be Swimming With Underwater Borrowers for Foreseeable Future


The affordable homes most sought after by first-time homebuyers are being kept off the market in part because nationally, those homes are almost three times more likely to be underwater than the most expensive homes, according to the first quarter Zillow Negative Equity Report. The national negative equity rate fell to 18.8 percent in the first quarter, with almost 9.7 million American homeowners with a mortgage underwater, owing more on their mortgage than their home is worth.Click to continue