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Helpers Can Be Found Throughout The Industry

Posted on by TMN Editor
By KIMBERLEY HAAS Leaders in the industry are committed to giving back during the holiday season and throughout the year. It was announced earlier this month that Down Payment Resource in Atlanta, Ga., will help a family in Memphis, Tenn., attain their homeownership dreams by donating $10,000 to the Homeownership Council of America’s Equity Down Payment Assistance program. They provide down payment and closing cost assistance for low-to-moderate income and minority first-time homebuyers. Leaders at Down Payment Resource say that is “a mission that aligns with our company’s founding goal of expanding affordable homeownership program awareness, understanding, and participation.” Rob Chrane, founder and CEO of Down Payment Resource, said in a statement for The Mortgage Note that they are supporting the program because…

Rents, Mortgage Payments Jumped In February

Posted on by TMN Editor
Average monthly asking rent in the U.S. leaped to new heights in February, up 15% year-over-year to a record high of $1,901, though mortgage growth outpaced it yet again, according to Redfin. Rent growth saw its largest annual increase since Redfin began tracking rental data in February 2019. Mortgage payments rose 31% YOY to $1,716, also the biggest increase recorded by Redfin. Mortgage payment increases outpaced rent increases in 44 of the 50 largest U.S. metros. “The cost of housing is going up for homebuyers and renters, but it’s going up more quickly for homebuyers,” said Redfin Chief Economist Daryl Fairweather.  “That’s because mortgage rates have increased sharply, and will likely continue to do so. When the cost of homeownership…