Category: Interest Rates

  • Consumers Save $10,662 Working With a Mortgage Broker

    Consumers Save $10,662 Working With a Mortgage Broker

    A recent study by Polygon Research, supported by Willow Canyon Advisors and United Wholesale Mortgage (UWM), reveals that consumers save an average of $10,662 over the life of a loan when working with independent mortgage brokers compared to nonbank retail lenders. The research, based on 2023 Home Mortgage Disclosure Act (HMDA) data, highlights that the…

  • New FHA Program Offers Temporary Mortgage Relief Amid Rising Interest Rates

    New FHA Program Offers Temporary Mortgage Relief Amid Rising Interest Rates

    The Federal Housing Administration (FHA) has introduced a new initiative known as the Payment Supplement program aimed at assisting struggling borrowers by offering temporary relief in the form of reduced monthly mortgage payments, all without altering their existing interest rates. Under this program, mortgage servicers can utilize funds from a “partial claim,” an interest-free second…