Mortgage

Credit Sesame on options for a mortgage with a 500 credit score. Your credit score is a significant factor when mortgage lenders underwrite your loan application. While very few mortgage programs exist for homebuyers with credit scores as low as 500, some options may be available to you: FHA home loans Non-prime loans Seller financing

Credit Sesame’s personal finance weekly news roundup April 1, 2023. Stories, news, politics and events impacting the personal finance sector during the last week. First Citizens buys Silicon Valley Bank Federal Reserve lending to banks soars Lenders becoming more cautious as late payments rise Despite slight improvement, consumers expect a recession Pending home sales make

Credit Sesame’s personal finance weekly news roundup March 25, 2023. Stories, news, politics and events impacting the personal finance sector during the last week. Fed makes a mild rate hike in the shadow of bank concerns Treasury Secretary clarifies stance on FDIC insurance Home sales break 12-month losing streak Dip in mortgage rates sparks increase

Credit Sesame discusses the slump in home prices and whether this is good for buyers. All markets have buyers and sellers. Trends that favor one side usually hurt the other. However, the housing market is a little more complicated than that. A recent slump in home prices might seem like good news for buyers and

Credit Sesame’s personal finance weekly news roundup for March 4, 2023. Stories, news, politics and events impacting the personal finance sector during the last week. Key inflation measure heated up in January Pending home sales tick up in January Money lost to scams up 30% last year Chinese manufacturing rebounds from COVID shutdowns Purchase mortgage

Credit Sesame discusses consumer spending resilience in 2022 and how it was financed by increased debt. Several recent economic reports indicate that consumer spending has remained surprisingly resilient. That may sound encouraging, but a closer look at debt trends shows another side to the story.  The Federal Reserve Bank of New York’s Household Debt and

Credit Sesame examines why mortgage rates decreased just as credit card interest rates increased. On February 1, 2023, the Federal Reserve announced another interest rate increase. This probably means higher interest rates on any new credit card purchases, soon. And yet, while Fed and credit card rates continue to rise, 30-year mortgage rates declined by

Credit Sesame on whether a falling consumer price index means inflation is dead. For most of the past two years, inflation has weighed on consumers, investors and businesses. But the latest Consumer Price Index (CPI) report indicates that prices are falling rather than rising. Does the recent decline in CPI mean the monster has been

Credit Sesame discusses consumer reaction to economic changes in 2022 at the start of 2023. 2022 is going down in recent history as The Year of Economic Changes. Most notably: Inflation soared Interest rates rose sharply Recession became a serious threat These developments pose significant challenges to household finances that persist into 2023. And yet,

Credit Sesame’s personal finance weekly news roundup January 7, 2023. Stories, news, politics and events impacting the personal finance sector during the last week. Consumers burned through $1 trillion in savings in 2022 U.S. regulators sound alarm over cryptocurrency risks Job openings remain plentiful Manufacturing activity weakened in December Mortgage applications fall to lowest level