Mortgage Roundup (5/17/21) – Jobs, Cost & Buyers

Good morning! Today is Monday, May 17. Bill Gates left the Microsoft board amid a probe into a prior relationship with a staffer. Israel launched a new round of heavy air strikes on Gaza City. A wildfire near Los Angeles continues to grow and evacuations were ordered. 

And in mortgage and housing news …

BANK JOB CUTS: U.S. banks could cut 200,000 jobs over next decade, top analyst says.

LOW-TECH APPS: Half of big lenders still get most mortgage applications on paper.  

TOO MUCH: Some questions to consider if you are thinking of going beyond your original budget to buy a home.

SELLER’S MARKET: Some tips for navigating a hot housing market.  

FIRST-TIME BUYERS: The housing market is a tale of two Americas and first-time buyers are struggling

LOW MORTGAGE PAYMENT: Four ways to get the lowest monthly mortgage payment

RELAXED STANDARDS: Lenders look to lure consumers with lax standards.

TIMING THE MARKET: Why it’s a bad idea to try to wait for a lower mortgage rate.  

CREDIT EXPANSION: Why lenders might be slower to expand credit to first-time buyers.