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Rising Home Prices Boost Demand For Jumbo Mortgages


Demand for purchase loans rose last month to levels approaching records set in March, but rising home prices mean homebuyers are increasingly likely to need to apply for jumbo loans that have traditionally carried higher interest rates.
The latest Originations Market Monitor report from mortgage and property data aggregator Black Knight shows purchase loan rate locks surged by 6 percent last month, reversing two consecutive months of declines. Cash-out refinancings were also up 10 percent, while rate-and-term refis fell 4 percent.
Non-conforming, “jumbo” mortgages accounted for 12.4 percent of all purchase and refinance rate locks, up from 5.25 percent a year ago. Conforming mortgages eligible for purchase or guarantee by mortgage giants Fannie Mae and Freddie Mac accounted for 65 percent of all mortgage rate locks in June, down from 72.3 percent a year ago. FHA loans captured a 12 percent market share, up from 10.2 percent a year ago. ....

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8 ways to increase your home's value


8 ways to increase your home’s value
Bankrate
5/4/2021
© David Papazian/Getty Images
6 ways to improve your home’s value
With all of us spending more time at home this past year, it’s not surprising that so many took to the already competitive housing market to look for a new place. Some of us, though, stayed exactly where we were, remodeling instead to make the most of the homes we know and love.
Whether your goal is to renovate your home this year or sell it, making home improvements can increase your home s value. The real estate experts we spoke to here say the following projects can provide the most bang for your buck. ....

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