Mortgage: The Death Pledge
Mortgage: ‘mortuus’ meaning ‘dead’ and ‘gage’ meaning ‘pledge‘
Mortgage rates got a little boost today thanks to an apparent peace deal between the U.S. and Iran. However, the 30-year fixed remains well above the average seen before the war began a few months ago. At last glance, it was still priced about 5/8 higher than where it stood...
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Published on: 2026-06-15
Source:
The Truth About Mortgage
A new Reuters poll conducted between June 1st and June 11th revealed that housing experts expect elevated mortgage rates through at least 2028. The survey found that the median forecast for the popular loan type is 6.4% for the third quarter of this year and 6.3% for the fourth quarter....
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Published on: 2026-06-11
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The Truth About Mortgage
It feels like we’re repeating history, and not the pleasant kind. Inflation readings came in at their worst since 2023, which incidentally was when the 30-year fixed seemed to peak this cycle around 8%. But this time around, mortgage rates are holding steady, seemingly undeterred by the rapid price increases....
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Published on: 2026-06-10
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The Truth About Mortgage
With mortgage rates above 6.50% these days, the average home buyer today actually pays more in interest than the purchase price. For example, a $400,000 home with 20% down and a 6.5% interest rate equates to $408,000 in total interest over 30 years. And that’s if you put down 20%....
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Published on: 2026-06-09
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The Truth About Mortgage
I was on LinkedIn the other day and came across a post featuring a mortgage rate history chart with rates for each year. It started with 1975, when the 30-year fixed apparently averaged 9.0%, 1980 when it was supposedly 14.4%, and 2015 when it was 4.0%. For whatever reason they...
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Published on: 2026-06-08
Source:
The Truth About Mortgage
The conflict in Iran was arguably bad enough for mortgage rates. It sent them from the best levels since mid-2022 right back toward the high 6s again. To make matters worse, we’ve gotten a series of hot jobs reports too, including today’s BLS report beat. But that’s not all; a...
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Published on: 2026-06-05
Source:
The Truth About Mortgage
It’s time for some more mortgage Q&A: “Can you have two mortgages at the same time?” This question came up recently and despite all the content on my site, it’s something I’ve never explicitly addressed. So let’s talk about it! In short, yes, you can two mortgages at the same...
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Published on: 2026-06-04
Source:
The Truth About Mortgage
I keep warning folks that mortgage rates are going higher, possibly back to the 7% range. And the main reason is because the war in the Middle East is dragging out longer than anticipated. That could lead to even higher oil prices, which already spiked gas prices and are now...
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Published on: 2026-06-03
Source:
The Truth About Mortgage
For self-employed borrowers, access to business funds can be a valuable resource when purchasing or refinancing a home. These funds are often used for down payments, closing costs, or reserve requirements. However, conventional mortgage guidelines require lenders to carefully evaluate whether withdrawing funds from a business could negatively impact its...
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Published on: 2026-06-03
Source:
Mortgage Depot
This might be one of the strangest things I’ve ever heard come out of the mortgage industry. And the mortgage industry is no stranger to strange things. Chicago-based Rate (formerly known as Guaranteed Rate) has launched RateFit, a so-called “lifestyle brand.” They were the 7th largest mortgage lender in the...
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Published on: 2026-06-01
Source:
The Truth About Mortgage
After what was a decent week for mortgage rates, in which they fell back closer to 6.50%, they appear to be on the rise again. The latest driver (surprise, surprise) is tensions in the Middle East and higher oil prices as a result. That pushed 10-bond yields back up about...
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Published on: 2026-06-01
Source:
The Truth About Mortgage
I still get the feeling that mortgage rates are going to go HIGHER before they cool off again. I’m aware there are rumblings of some sort of accord in the Middle East, but I’ve also seen this movie before. It takes time to resolve big, global conflicts, and if Iran...
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Published on: 2026-05-28
Source:
The Truth About Mortgage
I’ve noticed a trend lately where more mortgage lenders are offering so-called discounts. While it’s still not as common as what you see in other industries, it’s happening more frequently. For example, Chase has run numerous mortgage rate sales of late. And the nation’s top lender, UWM, constantly runs pricing...
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Published on: 2026-05-27
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The Truth About Mortgage
Ilya Simkin is a licensed Mortgage Loan Originator and real estate professional with a strong background in sales, business development, and client relationship management. With years of experience working in competitive real estate markets, he brings a strategic and client-focused approach to helping borrowers achieve their homeownership and investment goals....
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Published on: 2026-05-26
Source:
Mortgage Depot
Student loan debt is one of the most common concerns we hear from borrowers. Each mortgage agency calculates student loan debt differently. Here’s what you need to know. Fannie Mae Student Loan Guidelines Under Fannie Mae, if a student loan payment is not reflected on the credit report or is...
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Published on: 2026-05-20
Source:
Mortgage Depot
In today’s mortgage landscape, it’s easy to assume that Fannie Mae, Freddie Mac, and FHA all underwrite loans the same way. On the surface, their guidelines may look increasingly similar, but when you dig into the details, important differences still exist. These nuances can make or break an approval, especially for self-employed...
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Published on: 2026-05-13
Source:
Mortgage Depot
Needing funds to improve your home… but having little or no equity, our Home Improvement Loan program is your answer. Most home financing options, cash-out refinances, HELOCs, and second mortgages are all based on one key factor: equity. If you don’t have enough equity, you’re usually out of options. Our Home Improvement Loans are different. No LTV...
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Published on: 2026-05-05
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Mortgage Depot
Alejandro Borrayo is a licensed Mortgage Loan Originator dedicated to helping clients navigate the home financing process with clarity and confidence. He specializes in a wide range of loan programs, including Conventional, FHA, VA, Non-QM, and DSCR, allowing him to tailor solutions that align with each borrower’s unique financial goals....
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Published on: 2026-05-04
Source:
Mortgage Depot
Donnie Powell is a seasoned Mortgage Loan Originator, bringing decades of high-level financial and market experience to every client relationship. With a background rooted in trading, capital markets, and institutional finance, Donnie has a deep understanding of how market conditions, pricing, and timing impact financial decisions—an advantage he now leverages...
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Published on: 2026-04-29
Source:
Mortgage Depot
Self-employed borrowers often adjust their business structure for tax planning, liability protection, or long-term growth. While these changes may make sense from a business perspective, they can create unexpected challenges during mortgage qualification, especially when trying to use one year of tax returns. A recent update from Freddie Mac directly...
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Published on: 2026-04-29
Source:
Mortgage Depot
As mortgage lending continues to evolve, appraisal options have become more flexible, helping streamline transactions without compromising accuracy. One option gaining traction is the Hybrid Appraisal. If you’re exploring financing options, it’s important to understand what a hybrid appraisal is, when it’s allowed, and how it works. What Is a...
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Published on: 2026-04-22
Source:
Mortgage Depot