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HSH.com in the news — 2018

June 9, 2018: "How to plan for next round of Fed interest rate hikes", a Detroit Free Press advisory by Susan Tompor included a discussion of interest rate trends with Keith Gumbinger, HSH.com's vice president:

Tailwinds right now indicate that mortgage rates will be trending higher in the months ahead. The 30-year fixed rate is expected to move closer to 5 percent by year end and possibly nearer to 5.5 percent by June 2019, according to Keith Gumbinger, vice president for HSH.com. The average 30-year fixed rate was 4.54 percent last week, down from 4.56 percent a week earlier. By contrast, the 30-year rate averaged 3.89 percent a year ago. "A lot depends on inflation and the Fed," Gumbinger said. "Some economists are predicting that the next recession might show up in perhaps 2020."

June 1, 2018: "Getting Down Payment Help Now. Sharing Home's Gain (or Loss) Later.", a New York Times mortgage product analysis by Tara Siegel Bernard feature calculations and commentary from HSH.com VP Keith Gumbinger:

THE CALCULATION. Consumers who apply for the Unison program should consider how much they may save on their monthly payment over the time they expect to stay in the home. The hard part is the back end of the calculation, or what they may give up in appreciation. “You can’t really know the true future cost until the future actually comes,” said Keith Gumbinger, vice president at HSH.com, which tracks the mortgage market.

May 21, 2018: "5 things you need to know before taking out a home equity loan", a CNBC.com consumer advisory by Beth Braverman included some advice from Keith Gumbinger, HSH.com's vice president:

3. You'll need to shop around. Get a quote from your current lender, as well as from at least two others, including a credit union and an online bank. Use those quotes to negotiate to make sure that you're getting the best deal. "You can find fairly wide variances in price, interest rates, accessibility and terms from place to place across town," said Keith Gumbinger, vice president at mortgage site HSH.com.

April 25, 2018: "Even rising mortgage rates won't stop homebuyers", a Money.CNN.com review of housing market conditions by Kathryn Vasel included a forecast and a quote from Keith Gumbinger, HSH.com's VP:

Experts predict rates will climb to around 5% by the end of the year. That could be the thing that finally cools off the market and pushes some buyers onto the sidelines, according to Keith Gumbinger, vice president of HSH.com. "There is an important psychological point when you cross 5%," he said.

April 24, 2018: "Home prices are on an epic run", a Money.CNN.com market advisory by Kathryn Vasel included some color from HSH.com vice president Keith Gumbinger:

On a national level, home prices are up 6.7% from their peak in July 2006, and have been rising continuously for the past 70 months. "It's getting increasingly difficult to be a buyer," said Keith Gumbinger, vice president of HSH.com. The 30-year mortgage rate has climbed a half a percentage point in the last year, according to Freddie Mac, but at 4.47%, rates are still below historical averages. The only thing that might slow demand is if rates on a 30-year fixed mortgage climb above 5%, Gumbinger said. "There is an important psychological point when you cross 5%," he said. "That's when people will really start to pay attention and rethink buying over affordability. You may find some borrowers who step to the sidelines."

April 19, 2018: "Is it time for a mortgage-burning party?", a Syndicated Feature by Marilyn Melia featured a some data provide by Keith Gumbinger, HSH.com's VP:

Mortgages with shorter terms usually cost more per month than a 30-year mortgage since more principal is added to the bill. But with low rate charges, the monthly cost on shorter terms is more affordable. The Iowans Chedester serves weren’t alone. “Since 2011, in refinance transactions, the share of 15-year fixed rate mortgages has been as high as 41 percent,” notes Keith Gumbinger of mortgage data firm HSH Associates.

April 10, 2018: "Home Renovators Should Have No Trouble Getting Credit; They Just Need To Find Workers", a Forbes.com brief item on tax law changes by Kathleen Howley featured a quote from Keith Gumbinger, HSH.com's vice president:

“If the use of the HELOC isn’t related to your home, it’s not deductible anymore,” said Keith Gumbinger, vice president of HSH Associates, a mortgage research firm. “That’s going to funnel more equity extraction into home renovation projects.”

April 3, 2018: "What Is a Closing Disclosure Form? A New Mortgage Document Home Buyers Must Check", a Realtor.com look at homebuyer challenges by Daniel Bortz featured some advice from HSH.com vice president Keith Gumbinger:

If you do spot problems, what then? Depending on what the underlying issue is, “changes can be made in a manner that does not disrupt the closing of the loan," says Keith Gumbinger, vice president at HSH.com, a mortgage information website. In some cases, though, the closing may have to be postponed so that a new closing disclosure can be sent out with a new three-day review period.

March 3, 2018: "OKC makes affordable homes list", an Oklahoman market update by the editorial staff included some analysis provided by Keith Gumbinger, HSH.com's vice president:

Financial publisher HSH.com found Oklahoma City to be one of the most affordable housing markets in a recent study of income and home prices in the 50 largest metropolitan areas of the country. Using fresh quarterly home price data from the National Association of Realtors, and incorporating property tax and insurance costs, HSH.com mortgage expert Keith Gumbinger analyzed each market to calculate the annual salary a potential homebuyer would need to buy a median-priced home. The most affordable metropolitan areas were 1. Pittsburgh, requiring an annual salary of $33,509; 2., Cleveland, requiring $35,656; and 3. Oklahoma City, requiring $36,460.

February 27, 2018: "Is metro Denver’s housing market failing? New report says it’s very close.", a Denver Post review of market conditions by Aldo Svaldi included some context from Keith Gumbinger, HSH.com's vice president:

Borrowers need nearly $80,000 in salary to qualify for typical home The median represents the midway point, where half are below and half above. As a larger share of families can only afford homes below the median price, that intensifies competition and price gains in the bottom half of the market. “You have more competition in lower-cost strata of homes,” Gumbinger said. Gumbinger said the mortgage markets have held fast to one standard. The monthly house payment can’t exceed 28 percent of income. And unless incomes start rising at a faster pace, more buyers could find themselves priced out.

February 26, 2018: "Income needed to buy a home in San Jose soars $19K in three months", a Curbed.com local market review by Adam Brinklow included a snipped of analysis from HSH.com VP Keith Gumbinger:

“You guys suffer from limited supply maybe more than any other place in the country,” HSH’s Keith Gumbinger told Curbed SF. “In fact, for the quarter there’s only a handful of places in the country where prices were up. So this is not a blip, it’s actually bucking the trend.”

February 9, 2018: "Will an interest-only mortgage work for your situation?", a short advisory in The Day by the editorial staff included a quote from HSH.com VP Keith Gumbinger:

Investors often take advantage of interest-only mortgages, using the money freed up by this type of loan to pay for the renovations which are often necessary in homes purchased as an investment. Keith Gumbinger, writing for the mortgage resource HSH.com, says other borrowers are interested in investing the money they would otherwise pay toward the mortgage in the stock market or other ventures.

February 5, 2018: "Dow extends slide: What should investors do?", an Asbury Park Press market advisory by Michael Diamond included some trend information from Keith Gumbinger, HSH.com's VP:

Adding to the uncertainty: Fed President Janet Yellen was replaced by Jerome Powell. Watch the video above for more on changes at the Fed. Interest rates already have been rising, although by the end of the day, investors had been moving money from equities into bonds, causing rates to come off of their highs, said Keith Gumbinger, an analyst with HSH.com, which tracks interest rates.

January 23, 2018: "Is 2018 the year to buy a house?", a Money.com market outlook by Kathryn Vasel included commentary from HSH.com VP Keith Gumbinger:

Sellers will remain in the driver's seat as buyers continue to face affordability issues thanks to low housing supply. "The challenges for buyers in the market haven't changed that much from last year" said Keith Gumbinger, vice president of mortgage website HSH.com. "Prices cant go up at the pace they have been in those hot markets forever," said Gumbinger. "Because of the difficult in affordability, sales will slow in those marketplaces." Mortgages have already crossed the 4% threshold in 2018, hitting 4.04% last week. "Be as prepared as you can," recommended Gumbinger. "Get your credit as high as it can be, get your loan paperwork in order and easy to get to."

January 14, 2018: "Tax changes may take the shine off home equity loans", a Minneapolis Star-Tribune review of changing consumer conditions by Jim Buchta included a quote from Keith Gumbinger, HSH.com's VP:

But some say change will lead fewer to pile up debt. There are indications that’s already happening. After recent increases in mortgage rates, refinancings are falling. Keith Gumbinger, vice president with HSH.com, said the days of using home equity for debt consolidation and payment relief on high-interest credit cards are probably over. “After so many years of homeowners having no equity,” Gumbinger said, “the rules have changed to deter the use of home equity as a household budget management tool.”

January 5, 2018: "Why Buying a Home Just Got a Lot More Complicated", a Consumer Reports  forward-looking piece by Tobie Stanger included a forecast from Keith Gumbinger, HSH.com's vice president:

• Mortgage rates could rise. Locking down an interest rate now could be a smart move. The Federal Reserve is expected to raise its short-term lending rate several times this year, which would immediately affect adjustable-rate mortgages. Currently five-year ARMs have an average interest of 3.47 percent, according to HSH.com, a mortgage information publisher. That said, observers aren’t expecting 15- and 30-year fixed mortgage rates, which are still near historic lows, to jump precipitously. Keith Gumbinger, vice president of HSH, projects that the 30-year fixed-rate mortgage, now averaging 3.99 percent, could rise to around 4.5 percent. “We’re not likely to even hit 5 percent this year,” he says. “I don’t think it’s a deal-breaker for most borrowers.”

January 2018: " How to Shop for a Continuing Care Retirement Community", a Kiplinger.com discussion of finances in retirement by Pat Mertz Esswein and Sandra Block included some context from HSH.com VP Keith Gumbinger:

Most people finance the entrance fee by selling their house. If you can't immediately sell your home, you may be able to pay the entrance fee using a home-equity line of credit. (You can usually borrow up to 80% of a property's appraised value.) When you sell the house, you can pay off the line of credit. If you don't have a credit line, set one up months before applying to a CCRC, says Keith Gumbinger, vice president at mortgage research firm HSH.com. Banks are less likely to extend a credit line if they expect the homeowner to repay the debt within two or three years, he says, and they often charge an early-termination fee.
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