March 27, 2014: “Big loans for small spaces”, a Wall Street Jounal article by Lisa Selin Davis on jumbo loans in expensive housing markets, featuring VP Keith Gumbinger.

If there aren’t many comparable properties, says Keith Gumbinger, vice president of mortgage-information firm, “that might limit the number of lenders among whom the borrower would shop, and lenders who do make these loans may or may not have a full menu of product available.” Mr. Gumbinger says that lenders may choose only to offer one product, like an adjustable-rate mortgage, or could potentially add a premium to either the interest rate or the fees.

March 27, 2014: “What to do if your home-equity line is about to end”, a MarketWatch article by Christina Rexrode that features VP Keith Gumbinger:

“If you have an interest-only, you should be reaching out to your lender right now, saying, ‘I see the train coming down the tracks, what can we do?’” said Keith Gumbinger, vice president of the mortgage-data provider

March 6, 2014: “The evolution of FHA mortgage rates”, a syndicated piece on The Street that features content on FHA mortgage rates.

March 5, 2014: “If you refinanced your mortgage, you’re probably not going to want to sell your house”, a Washington Post article by Dina El Boghdady on why not to sell your home, featuring VP Keith Gumbinger:

“It will certainly affect people in markets that have experienced tremendous price appreciation or people who have lived in their homes for a long time and accumulated tremendous appreciation,” said Keith Gumbinger, a vice president at the mortgage information firm

February 20, 2014: “HARP refinances pass 3 million mark”, a MSN Real Estate syndicated piece that features content about the Home Affordable Refinance Program.

February 18, 2014: “Do you make enough to buy a house? Depends (heavily) on where you live”, a U.S. News & World Report article by Danielle Kurtzleben featuring our research and VP Keith Gumbinger:

“In the third quarter we had some of the highest interest rates show up in about two years,” says Keith Gumbinger, vice president at That pushed home prices down, he adds. “What we find is in looking for that balance of affordability, if interest rates are rising, and we did have that in the third quarter, means home prices have to decline somewhat.” That means in the fourth quarter, when interest rates also fell, affordability improved for homebuyers, he says.

February 18, 2014: “How much income do you need to buy a home in the Bay Area?”, a San Francisco Chronicle article by Kathleen Pender on our salary needed to buy a median-priced home in 25 of the nation’s largest metro areas:

The only thing about the study that surprised HSH Vice President Keith Gumbinger is that the median price in the Bay Area fell 3.2 percent from the third to the fourth quarter (although it was up 15 percent on a year-over-year basis). That means the average income needed to buy a home in the Bay Area fell by $9,562 from the third to the fourth quarter.

February 18, 2014: “Here’s how much money you must earn to buy a home in 25 big US cities”, a Business Insider article by Megan Willett on our salary needed to buy a home in 25 cities study:, an online mortgage and consumer loan information website, figured out how much a person would have to earn to afford a home in 25 of the country’s largest metropolitan areas.

February 14, 2014: “4 Factors will influence housing inventory in 2014″, a Fox Business piece on housing inventory factors featuring VP Keith Gumbinger:

Market observers like Keith Gumbinger, vice president of, believe the home-price gains we witnessed in 2013 won’t sustain throughout 2014. “Overall, we expect the recovery in housing markets to persist in 2014, but in a context of flattening gains for home prices, higher inventory levels and firm mortgage rates and underwriting standards.”

January 31, 2014: “Your money: New real estate rules for 2014″, a Reuters article by Beth Pinsker containing a quote from VP Keith Gumbinger:

“The one thing we can say with certainty is that rates will go up and down,” says Keith Gumbinger, vice president at, a mortgage information website. When they will rise and fall, and by how much, is an open question.

Gumbinger says some people are rushing into home purchases or refinancing because they’ve panicked, applying the conventional wisdom that interest rates will climb.

But Gumbinger says before you buy, focus on the long-term value of the property to determine whether it’s worth getting into a 30-year mortgage.

January 29, 2014“Higher rates loom for some modified mortgages”, a USA Today Money article by Julie Schmit addressing rising costs under HAMP with a quote from VP Keith Gumbinger:

The increased costs “could be a problem for some people,” says Keith Gumbinger, mortgage expert with

January 23, 2014: “A five year wait for a new rate”, a Wall Street Journal article by AnnaMaria Andriotis about the new jumbo 5/5 ARM with insight from VP Keith Gumbinger:

But the opposite situation could also play out, with borrowers locking in a rate for five years just before rates start to drop. Critics say this mortgage only works in borrowers’ favor if they happen to time the market right. “It’s a crapshoot,” says Keith Gumbinger, vice president of mortgage-info firm

January 21, 2014: “Home-equity loans are back, pitfalls included”, a piece by Amy Hoak about applying for a loan or credit line containing a quote from VP Keith Gumbinger:

“Given that the equity in a home can be the largest retirement asset for many people, it’s a good idea to protect it as best you can,” said Keith Gumbinger, vice president of, a publisher of consumer loan information. “Equity built through the regular pay-down of your mortgage takes a long time to build, and market-given equity—as in from a run-up in prices—can be ephemeral, as many have painfully learned in the recent price collapse.”

January 13, 2014: “5 ways the jumbo mortgage market will change in 2014″, a outlook piece by AnnaMaria Andriotis containing a quote from VP Keith Gumbinger:

Separately, fewer lenders will make exceptions for borrowers who don’t supply full income documentation. Affluent jumbo borrowers have been able to provide partial documentation with some lenders and still get approved – a setup that helped those who are self-employed or have complex income structures.

But the CFPB’s new mortgage rules prohibit low- and no-documentation mortgages. These loans “may be much harder to come by,” says Keith Gumbinger, vice president at mortgage-info website

(This also appeared January 9, 2014 as “The Era of Big Loans” in the Wall Street Journal)

January 10, 2014: “Should You Buy Inflation Protection?”, a Wall Street Journal by Joe Light containing a good reason to select a fixed-rate mortgage provided by VP Keith Gumbinger:

Another good move: If you already are planning to buy a home, do it soon. Over very long periods, home prices tend to keep up with inflation.

The rate of 30-year fixed-rate mortgages, now at 4.6%, is low and expected to rise as the Federal Reserve winds down its bond-buying stimulus program.

Since inflation may be accompanied by wage growth, while mortgage payments are fixed, a rise in prices could make it easier for a homeowner to pay off the debt, says Keith Gumbinger, vice president at, a mortgage-information website.

January 10, 2014: “What the new mortgage rules mean for you”, a story by Les Christie with some words and context from Keith Gumbinger,’s vice president”

Lenders don’t seem to be too worried about the new rules, according to Keith Gumbinger of, a mortgage information provider. “It’s no surprise; everybody has been preparing for the change for months,” he said. “Because there will be additional underwriting scrutiny, it could gum up the works initially and slow loan processing, but it’s really just the codification of things that are already in place.”

January 10, 2014: “These 4 New Rules Can Stop You from Buying a Home”, a Fiscal Times item by Laura Shin with a review of some of the new mortgage rules from VP Keith Gumbinger:

“Over the last couple of years, lending underwriting standards have been tight in the way of verifying income, assets and requiring a down payment and providing multiple documentation streams, and not allowing you all kinds of budget-stretching flexibilities,” says Keith Gumbinger, vice president at HSH, a mortgage information website.:

What the Changes Really Mean
The new rules will still affect the market, Gumbinger of HSH says: “Any time there’s a rule change, it adds some cost to the origination of a mortgage, so there’s likely to be some increase in fees. Ultimately costs will rise to borrowers “but not by much.”

Those who get paid seasonally, earn big annual bonuses, or the self-employed may also find it more challenging to meet these new standards, says Gumbinger.

January 9, 2013: “The forecast for housing in 2014: Higher prices, rates”, a Baltimore Sun an outlook column by Jamie Smith Hopkins included a forward-looking statement from VP Keith Gumbinger:

“There are still challenges, but I think all in all, we should have a pretty solid housing market in 2014,” said Keith T. Gumbinger, a vice president at mortgage information site

One of those challenges: Buyers shouldn’t count on mortgage rates in the 4 percent range.

Rates for 30-year fixed-rate products were hovering around 4.5 percent at the start of the year, up from 3.3 percent a year earlier. Gumbinger and others think 5 percent or above is likely later this year, decreasing buying power – one of the reasons they expect a smaller increase in sale prices nationally.

The Federal Reserve decided in December to begin reducing its $85 billion a month bond-buying spree, which helped keep rates low. Subtracting $10 billion from those monthly purchases will add some pressure to mortgage rates, Gumbinger said. So will the healing economy.

January 9, 2014: “Home buyers and sellers buckle up”, a Los Angeles Daily News a Gregory Wilcox story on market conditions that included a quote from Keith Gumbinger,’s VP:

“Mortgage rates have been steady to slightly firmer in recent weeks but remain in familiar territory,” Keith Gumbinger, vice president of rate tracker said in an email. “The warmer economy and less aggressive Federal Reserve are keeping rates pretty firm at the moment.”

January 9, 2014: “Home loan rates level off; 30-year fixed at 4.51%”, a Los Angeles Times a market update from E. Scott Reckard with some news for mortgage borrowers from Keith Gumbinger,’s VP:

Given the tight underwriting standards already in place in the market, the new Consumer Financial Protection Bureau rules may not do much to further restrict credit availability — but they don’t do much to enhance it either, said Keith Gumbinger, vice president of the rate-tracking firm

“Lenders have been deeply scrutinizing borrower applications for several years, requiring plenty of documentation and doing their best to make certain that borrowers can afford the loan,” Gumbinger said in an HSH report on rates.”Until Friday, that’s been a kind of market-enforced discipline.”

January 8, 2014: “Why 2014 is the year to get out of debt”, a Melanie Hicken’s piece about how to plan for changes in 2014 with context from VP Keith Gumbinger:

Long-term interest rates have already risen in anticipation of the Fed’s decision, so there likely won’t be a rapid spike in mortgage rates, which are already more than a percentage point higher than last year’s historic lows. Still, prospective borrowers could see mortgage rates reach more than 5% this year as the economy continues to strengthen, said Keith Gumbinger, vice president at mortgage information site

But many other consumer loans should remain cheap since they are tied to short-term interest rates, which the Fed has committed to keeping near zero.

January 2, 2014: “4 Reasons You Shouldn’t Worry Over Rising Mortgage Rates”, a Yahoo Finance Mandi Woodruff column about mortgage rates with both some outlook and historical references from VP Keith Gumbinger:

“I don’t think there’s any reason to panic,” says Keith Gumbinger, vice president of mortgage rate tracker “Buying a home will be somewhat more expensive, but I don’t think it’s going to be a matter of ‘Oh, I’m losing so much ground that I have to go out and buy [a home] right now.’”

Historical context is important. A little over a decade ago, the lowest average rate for a 30-year fixed rate mortgage was around 5.24%, Gumbinger notes. It’s easy to forget that when rates fell so dramatically following the housing crash.

“Even if we do start to see 5% rates appearing in 2014, rates will absolutely remain favorable [to buyers],” he says.

You can see other prominent news mentions for 2013 here.

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