Category: Mortgage

Digital mortgage company Habito completes £35M Series C
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Digital mortgage company Habito completes £35M Series C

Habito, the London startup that has spent the last few years moving the mortgage process online, including offering its own mortgages beyond acting as a broker, has completed £35 million in Series C funding. The newly disclosed round — comprising an earlier Series C equity raise and a more recent Series C extension in the…

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Record-Low Mortgage Rates Won’t Save the Housing Market
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Record-Low Mortgage Rates Won’t Save the Housing Market

The U.S. housing market is bouncing back quickly, fueled by record-low mortgage rates. The housing shortage is worsening, further increasing home prices. Low-income Americans can’t afford a house despite low mortgage rates. The pandemic has hit the U.S. housing market hard. Millions of Americans have lost their jobs and did little shopping because of the…

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Low Mortgage Rates Can’t Stop a U.S. Housing Market Crash
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Low Mortgage Rates Can’t Stop a U.S. Housing Market Crash

A housing market crash appears inevitable as people won’t be able to buy a home at current price levels. As many Americans lose their jobs due to the coronavirus pandemic, they might want to sell their house to free up money. It’s becoming harder to get a mortgage as lending criteria are tightening. The U.S.…

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New York Mortgage Data Show U.S. Housing Market is Crashing
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New York Mortgage Data Show U.S. Housing Market is Crashing

Mortgage applications in states hit hard by coronavirus fell significantly. Buyers around the country will dry up despite low interest rates as recession sets in. Job losses will force many into selling despite reduced house prices in a few months time. Coronavirus has already tanked financial markets, but now the panic is moving into the…

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Purchase Mortgage Applications Crash 24 Percent Annually
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Purchase Mortgage Applications Crash 24 Percent Annually

Applications for m0rtgages to purchase homes were down 24 percent last week compared with a year earlier, the Mortgage Bankers Association seasonally adjusted index. Compared with a week earlier, applications were down 11 percent. There are several factors driving down purchase mortgage applications. The “stay at home” orders in many states and counties bar or…

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Mortgage Applications Crater 30% in Worst Fall Since Housing Market Burst
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Mortgage Applications Crater 30% in Worst Fall Since Housing Market Burst

Mortgage applications fell 29.4% last week. That’s the housing market’s biggest decline since 2009. Meanwhile, distressed mortgage REITs can’t cover margin calls. Mortgage applications cratered last week in another perilous sign for the housing market. According to the Mortgage Bankers Association (MBA), new mortgage applications plummeted 29.4% for the week ending March 20, 2020. That’s…

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