Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.

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Mortgage Rates Inch Up, Vets to Pay More

Friday, Jul 05 2019
Lending
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Rates for home loans increased modestly in the holiday shortened week ending July 3. So reports MarketWatch.

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The 30-year fixed mortgage averaged 3.75%, while the 15-year fixed-rate mortgage averaged 3.18%. Both were up just two basis points.

However, the cost of borrowing for veterans will soon increase. President Trump signed legislation in late June (The Blue Water Navy Vietnam Veterans Act) that will increase the fees for those taking out VA-backed mortgages. The legislation aims to extend benefits to Navy veterans exposed to Agent Orange and the higher fees on borrowers will help offset the cost of extending those benefits. 

Read the full article from MarketWatch.

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