[ad_1] home equity bankCanada’s leading reverse mortgage lender and the country’s Schedule I federal bank announced Wednesday that longtime president and CEO Steven Ranson will retire effective June 30. “I have accomplished what I set out to accomplish many years ago: establish reverse mortgages and home equity banks as respected options for older Canadians,” Ranson said in a statement. “I believe now is the right time to pass the torch to a new leader who will build on our long track record of success.” Ranson, who first joined the company as CFO in 1997, will be succeeded by Kathryn “Katie”…
Author: support
[ad_1] Andreser/Getty ImagesIt’s no secret that the path to homeownership is very difficult these days. A combination of factors, including soaring mortgage rates, high prices and inventory shortages, has left many prospective buyers on the sidelines. But even if home prices are at an all-time high, you should still consider buying, according to financial guru and host Dave Ramsey.Learn more: 7 European cities where you can buy a luxury home for under $100,000For you: 6 genius things every rich person does with their money”Median home prices are currently at an all-time high. We don’t expect things to go crazy again,…
[ad_1] Geek insight: Until the Bank of Canada lowers the overnight rate, variable mortgage rates will remain at around 6%. On April 10, the central bank kept overnight interest rates unchanged at 5%, but that may not happen until June or July. Updated prices: April 4, 2024 neo financial Powerful mortgage features.Monthly prepayment is a great deal.Skip payment is not available.Very advantageous yearly prepayment. 6.05% 5 years. semester Explore now Radius Financial Powerful mortgage features.Monthly prepayment is a great deal.Skip payment is not available.Very advantageous yearly prepayment. 6.20% 5 years. semester Explore now fair bank Powerful mortgage features.Monthly prepayment is…
[ad_1] Last month, financial companies in the Tohoku region WSFS Home Loan We announced the results of a survey measuring sentiment around reverse mortgage products. As a result, more people appear to be recognizing the potential value that reverse mortgages can provide older homeowners, including preparing for aging and increasing cash flow during retirement. It turns out that it also functions as a tool. Although WSFS Mortgage’s reverse mortgage product (a service that provides loans through intermediaries) is more regionally focused, the study itself was conducted nationwide by the research firm and surveyed 750 homeowners aged 60 and older. I…
[ad_1] Despite better-than-expected employment data released last week, mortgage rates remained unchanged. HousingWire’s Mortgage Rate Center showed Tuesday that the average 30-year fixed rate for a conventional loan was 7.16%, unchanged from a week ago. During the same period a year ago, 30-year fixed interest rates averaged 6.46%. Meanwhile, 15-year fixed interest rates averaged 6.42% as of Tuesday, down from 6.51% a week ago. “Tomorrow’s CPI data will be important for the bond market and mortgage rates, but the real story in 2024 is that mortgage rate spreads have improved this year,” said HousingWire principal analyst Logan Mortashami. That’s true.”…
[ad_1] This week’s rise in mortgage rates further casts doubt on whether meaningful rate cuts will be forthcoming for homebuyers.The average interest rate on a 30-year loan was just over 7% this week and settled at 7.07% on Wednesday, according to Mortgage News Daily.Another measure that tracks average weekly interest rates rose to 6.82% from 6.79%, Freddie Mac reported.Homebuyers continue to retreat as affordability challenges worsen and consumer optimism about how quickly and how much interest rates will ease this year wanes.The current situation is to wait for loan interest rates to fall. The best reason Buyers say they are…
[ad_1] industry veteran Katherine (Katie) dutchak Appointed as the next president and CEO of Home Equity BankToronto, April 9, 2024 /CNW/ – Home Equity Bank today announced that Stephen Ranson will retire as President and CEO after a distinguished 27-year career building the reverse mortgage industry. Canada Establish Home Equity Bank as a market leader.Home Equity Bank’s Board of Directors has made the following appointments Katherine (Katie) Mr. Dutchak will become the bank’s next president and CEO.Home Equity Bank today announced that Stephen Ranson will step down as President and CEO after a remarkable career building Canada’s reverse mortgage industry…
[ad_1] A few hours after I posted a column last week about seniors using reverse mortgages to pay off their debts, I received an updated newsletter from consumer bankruptcy expert Scott Theriault.In my column, I talked about how more and more people are retiring with debt and feeling like the burden is too great. In some cases, you may be looking to solve your problem with a reverse mortgage. Interest accumulates on a reverse mortgage, but you don’t have to pay interest or principal until you sell the home.Mr. Therio fills in some of the details regarding seniors and debt.…
[ad_1] Despite rising sharply over the past week, typical terms mortgage rates remain below 7% as of Tuesday, April 9, 2024.The current average interest rate for a 30-year fixed mortgage is 6.97% for purchase and 6.99% for refinance, which has increased by 9 basis points for purchase and 11 basis points for refinance over the past week. Increases over the 15-year period were modest at 4 basis points week over week for both purchases and refinances, with interest rates at 6.48% for purchases and 6.42% for refinances. The average interest rate for a 30-year fixed jumbo mortgage is 7.09%.Purchase rate…
[ad_1] After months of downward revisions to performance metrics, the reverse mortgage industry saw a slightly different development in March, which should come as welcome news. The number of Home Equity Conversion Mortgage (HECM) recommendations increased by 8.3% in March to 2,058. The increase was driven by new cases and partly reflected recent industry sentiment, according to data compiled by the company. reverse market insights (RMI). Issuance of HECM-backed securities (HMBS) also recorded a strong performance in March, increasing to $447 million. That’s up $18 million from $429 million in February, according to Ginnie Mae data and private data compiled…