Colin Robertson
@mortgagetruth.bsky.social
Wholesale AE in the early 2000s. Commentary on mortgage/real estate/housing market since 2006 @ http://thetruthaboutmortgage.com
Now we're trying our hand at portable mortgages...
They don't work here b/c we have long-term fixed-rate mortgages, unlike other countries like Canada/UK that rely upon variable-rate and so-called "fixed mortgages" that need to be renegotiated every 3-5 years.
They don't work here b/c we have long-term fixed-rate mortgages, unlike other countries like Canada/UK that rely upon variable-rate and so-called "fixed mortgages" that need to be renegotiated every 3-5 years.
November 12, 2025 at 7:45 PM
Now we're trying our hand at portable mortgages...
They don't work here b/c we have long-term fixed-rate mortgages, unlike other countries like Canada/UK that rely upon variable-rate and so-called "fixed mortgages" that need to be renegotiated every 3-5 years.
They don't work here b/c we have long-term fixed-rate mortgages, unlike other countries like Canada/UK that rely upon variable-rate and so-called "fixed mortgages" that need to be renegotiated every 3-5 years.
Imagine the 50-yr is priced at 7% and the 30-yr is 6% w/ a small rate buydown paid by the seller.
The monthly payment is cheaper AND you pay ~$600k less in interest (on a $400k loan).
- 30-yr fixed at 6% is $2,398.20/mo.
- 50-yr fixed at 7% is $2,406.75/mo.
Good knowing ya 50-year mortgage!
The monthly payment is cheaper AND you pay ~$600k less in interest (on a $400k loan).
- 30-yr fixed at 6% is $2,398.20/mo.
- 50-yr fixed at 7% is $2,406.75/mo.
Good knowing ya 50-year mortgage!
November 11, 2025 at 5:25 PM
Imagine the 50-yr is priced at 7% and the 30-yr is 6% w/ a small rate buydown paid by the seller.
The monthly payment is cheaper AND you pay ~$600k less in interest (on a $400k loan).
- 30-yr fixed at 6% is $2,398.20/mo.
- 50-yr fixed at 7% is $2,406.75/mo.
Good knowing ya 50-year mortgage!
The monthly payment is cheaper AND you pay ~$600k less in interest (on a $400k loan).
- 30-yr fixed at 6% is $2,398.20/mo.
- 50-yr fixed at 7% is $2,406.75/mo.
Good knowing ya 50-year mortgage!
Want to know just how useless a 50-year mortgage is?
It's a difference of about $165 per month on a $400,000 loan amount.
To make matters a lot worse, you’d be looking at total interest of $863k versus $418k if you went with a traditional 30-year loan.
It's a difference of about $165 per month on a $400,000 loan amount.
To make matters a lot worse, you’d be looking at total interest of $863k versus $418k if you went with a traditional 30-year loan.
November 10, 2025 at 5:48 PM
Want to know just how useless a 50-year mortgage is?
It's a difference of about $165 per month on a $400,000 loan amount.
To make matters a lot worse, you’d be looking at total interest of $863k versus $418k if you went with a traditional 30-year loan.
It's a difference of about $165 per month on a $400,000 loan amount.
To make matters a lot worse, you’d be looking at total interest of $863k versus $418k if you went with a traditional 30-year loan.
Don's post tells me two very important things.
A) He's never heard of the ATR/QM rule that banned mortgages with loan terms longer than 30 years.
B) He's given up on returning the 30-year fixed to 3% or lower.
A) He's never heard of the ATR/QM rule that banned mortgages with loan terms longer than 30 years.
B) He's given up on returning the 30-year fixed to 3% or lower.
November 9, 2025 at 5:54 PM
Don's post tells me two very important things.
A) He's never heard of the ATR/QM rule that banned mortgages with loan terms longer than 30 years.
B) He's given up on returning the 30-year fixed to 3% or lower.
A) He's never heard of the ATR/QM rule that banned mortgages with loan terms longer than 30 years.
B) He's given up on returning the 30-year fixed to 3% or lower.
The Bilt Card 2.0 is nearly at the finish line and is expected to be launched on February 7th, 2026.
Will allow you to earn points on ANY mortgage payment you make each month.
Expected to earn one point for each dollar, so $2,500 mortgage will earn 2,500 Bilt points each month, or 30,000 annually.
Will allow you to earn points on ANY mortgage payment you make each month.
Expected to earn one point for each dollar, so $2,500 mortgage will earn 2,500 Bilt points each month, or 30,000 annually.
November 5, 2025 at 4:50 PM
The Bilt Card 2.0 is nearly at the finish line and is expected to be launched on February 7th, 2026.
Will allow you to earn points on ANY mortgage payment you make each month.
Expected to earn one point for each dollar, so $2,500 mortgage will earn 2,500 Bilt points each month, or 30,000 annually.
Will allow you to earn points on ANY mortgage payment you make each month.
Expected to earn one point for each dollar, so $2,500 mortgage will earn 2,500 Bilt points each month, or 30,000 annually.
Veteran-focused mortgage lender NewDay USA has launched a new product that allows veterans and active duty to buy a home with nothing out of pocket.
The “NewDay Home” product allows closing costs to be financed over a five year period, w/ no interest charged if repaid in full within one year.
The “NewDay Home” product allows closing costs to be financed over a five year period, w/ no interest charged if repaid in full within one year.
November 3, 2025 at 6:06 PM
Veteran-focused mortgage lender NewDay USA has launched a new product that allows veterans and active duty to buy a home with nothing out of pocket.
The “NewDay Home” product allows closing costs to be financed over a five year period, w/ no interest charged if repaid in full within one year.
The “NewDay Home” product allows closing costs to be financed over a five year period, w/ no interest charged if repaid in full within one year.
Bilt has partnered with Venmo to allow users to make mortgage payments from within the Venmo app.
You'll now be able to let everyone know how much your mortgage payment is.
You'll now be able to let everyone know how much your mortgage payment is.
October 29, 2025 at 3:18 PM
Bilt has partnered with Venmo to allow users to make mortgage payments from within the Venmo app.
You'll now be able to let everyone know how much your mortgage payment is.
You'll now be able to let everyone know how much your mortgage payment is.
Cooler than expected CPI report does one important thing for mortgage rates today; prevents them from bouncing HIGHER.
It also paves the way for the Fed to justify a rate cut next week less friction.
And gets us ever closer to the 5s for the 30-year fixed, albeit slowly and likely with resistance.
It also paves the way for the Fed to justify a rate cut next week less friction.
And gets us ever closer to the 5s for the 30-year fixed, albeit slowly and likely with resistance.
October 24, 2025 at 4:23 PM
Cooler than expected CPI report does one important thing for mortgage rates today; prevents them from bouncing HIGHER.
It also paves the way for the Fed to justify a rate cut next week less friction.
And gets us ever closer to the 5s for the 30-year fixed, albeit slowly and likely with resistance.
It also paves the way for the Fed to justify a rate cut next week less friction.
And gets us ever closer to the 5s for the 30-year fixed, albeit slowly and likely with resistance.
🚨 Big CPI report tomorrow (delayed due to the shutdown). And the ONLY data report we'll get for a while.
If it comes in hot, mortgage rates might push back toward 6.5%.
If it comes in cold, mortgage rates might be knocking on 5%'s door.
The first time they've been there since February 2nd, 2023!
If it comes in hot, mortgage rates might push back toward 6.5%.
If it comes in cold, mortgage rates might be knocking on 5%'s door.
The first time they've been there since February 2nd, 2023!
October 23, 2025 at 9:14 PM
🚨 Big CPI report tomorrow (delayed due to the shutdown). And the ONLY data report we'll get for a while.
If it comes in hot, mortgage rates might push back toward 6.5%.
If it comes in cold, mortgage rates might be knocking on 5%'s door.
The first time they've been there since February 2nd, 2023!
If it comes in hot, mortgage rates might push back toward 6.5%.
If it comes in cold, mortgage rates might be knocking on 5%'s door.
The first time they've been there since February 2nd, 2023!
Is this as good as it gets?
The MBA says the 30-year fixed will hover between 6% and 6.5% through the year 2028.
"Growing budget deficits and elevated inflation expectations" will keep long-term rates from falling much more, even as Fed cuts short-term rates.
2026: 6.4%
2027: 6.3%
2028: 6.5%
The MBA says the 30-year fixed will hover between 6% and 6.5% through the year 2028.
"Growing budget deficits and elevated inflation expectations" will keep long-term rates from falling much more, even as Fed cuts short-term rates.
2026: 6.4%
2027: 6.3%
2028: 6.5%
October 20, 2025 at 11:28 PM
Is this as good as it gets?
The MBA says the 30-year fixed will hover between 6% and 6.5% through the year 2028.
"Growing budget deficits and elevated inflation expectations" will keep long-term rates from falling much more, even as Fed cuts short-term rates.
2026: 6.4%
2027: 6.3%
2028: 6.5%
The MBA says the 30-year fixed will hover between 6% and 6.5% through the year 2028.
"Growing budget deficits and elevated inflation expectations" will keep long-term rates from falling much more, even as Fed cuts short-term rates.
2026: 6.4%
2027: 6.3%
2028: 6.5%
Sign of the times: A lender in Florida has launched a reverse second mortgage.
Allows seniors to access home equity w/o having to pay off or refinance their low-rate first mortgage.
Money can be used to supplement retirement income or cover "rising healthcare costs" sans monthly payments.
Allows seniors to access home equity w/o having to pay off or refinance their low-rate first mortgage.
Money can be used to supplement retirement income or cover "rising healthcare costs" sans monthly payments.
October 13, 2025 at 10:55 PM
Sign of the times: A lender in Florida has launched a reverse second mortgage.
Allows seniors to access home equity w/o having to pay off or refinance their low-rate first mortgage.
Money can be used to supplement retirement income or cover "rising healthcare costs" sans monthly payments.
Allows seniors to access home equity w/o having to pay off or refinance their low-rate first mortgage.
Money can be used to supplement retirement income or cover "rising healthcare costs" sans monthly payments.
United Wholesale Mortgage (UWM), the nation's largest mortgage lender, just announced a 10-year, ~$115M naming rights deal for the downtown Phoenix arena.
Formerly known as Footprint Center, it will now be known as Mortgage Matchup Center, home of the Phoenix Suns and Mercury.
Formerly known as Footprint Center, it will now be known as Mortgage Matchup Center, home of the Phoenix Suns and Mercury.
October 2, 2025 at 8:24 PM
United Wholesale Mortgage (UWM), the nation's largest mortgage lender, just announced a 10-year, ~$115M naming rights deal for the downtown Phoenix arena.
Formerly known as Footprint Center, it will now be known as Mortgage Matchup Center, home of the Phoenix Suns and Mercury.
Formerly known as Footprint Center, it will now be known as Mortgage Matchup Center, home of the Phoenix Suns and Mercury.
POV: You're inquiring about an FHA loan...🤦♂️
September 30, 2025 at 9:06 PM
POV: You're inquiring about an FHA loan...🤦♂️
Another government shutdown will begin at 12:01 a.m. on Wednesday unless lawmakers can find a resolution.
This isn’t the first time we’ve faced a shutdown lately, and won’t be the last.
One issue is the delayed release of key government data, which affects mortgage interest rates.
This isn’t the first time we’ve faced a shutdown lately, and won’t be the last.
One issue is the delayed release of key government data, which affects mortgage interest rates.
September 30, 2025 at 4:53 PM
Another government shutdown will begin at 12:01 a.m. on Wednesday unless lawmakers can find a resolution.
This isn’t the first time we’ve faced a shutdown lately, and won’t be the last.
One issue is the delayed release of key government data, which affects mortgage interest rates.
This isn’t the first time we’ve faced a shutdown lately, and won’t be the last.
One issue is the delayed release of key government data, which affects mortgage interest rates.
This time it does in fact appear to be different.
September 30, 2025 at 3:24 PM
This time it does in fact appear to be different.
So far, at least 3 large mortgage companies have upped conforming loan limits ahead of time for 2026.
This has been somewhat customary lately as home prices, which dictate loan limits, have gone up significantly year after year.
But the latest increase is a lot more muted than in prior years.
This has been somewhat customary lately as home prices, which dictate loan limits, have gone up significantly year after year.
But the latest increase is a lot more muted than in prior years.
September 29, 2025 at 11:55 PM
So far, at least 3 large mortgage companies have upped conforming loan limits ahead of time for 2026.
This has been somewhat customary lately as home prices, which dictate loan limits, have gone up significantly year after year.
But the latest increase is a lot more muted than in prior years.
This has been somewhat customary lately as home prices, which dictate loan limits, have gone up significantly year after year.
But the latest increase is a lot more muted than in prior years.
Pulte: "Since the President has come into office he's lowered mortgage rates, you can see, you know, when he started out it's already down."
"And then on top of that Maria, refinancings are through the roof."
"And then on top of that Maria, refinancings are through the roof."
September 27, 2025 at 3:18 PM
Pulte: "Since the President has come into office he's lowered mortgage rates, you can see, you know, when he started out it's already down."
"And then on top of that Maria, refinancings are through the roof."
"And then on top of that Maria, refinancings are through the roof."
Your intermittent reminder that mortgage rates tend to fall during government shutdowns.
Bond yields drop as investors seek safe-haven assets like Treasuries.
As such, mortgage rates benefit, though w/o the release of another [ugly] labor report Friday, we could actually be worse off.
Bond yields drop as investors seek safe-haven assets like Treasuries.
As such, mortgage rates benefit, though w/o the release of another [ugly] labor report Friday, we could actually be worse off.
September 27, 2025 at 2:49 PM
Your intermittent reminder that mortgage rates tend to fall during government shutdowns.
Bond yields drop as investors seek safe-haven assets like Treasuries.
As such, mortgage rates benefit, though w/o the release of another [ugly] labor report Friday, we could actually be worse off.
Bond yields drop as investors seek safe-haven assets like Treasuries.
As such, mortgage rates benefit, though w/o the release of another [ugly] labor report Friday, we could actually be worse off.
The credit card that lets you earn points for paying the mortgage each month is offering a 50k sign-up bonus.
But the $12k minimum spend is pretty steep and the mortgage payment itself doesn't count toward that.
I've been pondering the card but remain on the fence.
But the $12k minimum spend is pretty steep and the mortgage payment itself doesn't count toward that.
I've been pondering the card but remain on the fence.
September 20, 2025 at 3:54 PM
The credit card that lets you earn points for paying the mortgage each month is offering a 50k sign-up bonus.
But the $12k minimum spend is pretty steep and the mortgage payment itself doesn't count toward that.
I've been pondering the card but remain on the fence.
But the $12k minimum spend is pretty steep and the mortgage payment itself doesn't count toward that.
I've been pondering the card but remain on the fence.
Mortgage rates, like all other things, don’t move in a straight line up or down.
But if you zoom out they’ve been trending lower as opposed to higher since late 2023 and despite the past couple days, could well continue that move lower.
But if you zoom out they’ve been trending lower as opposed to higher since late 2023 and despite the past couple days, could well continue that move lower.
September 18, 2025 at 9:37 PM
Mortgage rates, like all other things, don’t move in a straight line up or down.
But if you zoom out they’ve been trending lower as opposed to higher since late 2023 and despite the past couple days, could well continue that move lower.
But if you zoom out they’ve been trending lower as opposed to higher since late 2023 and despite the past couple days, could well continue that move lower.
Mortgage rates have basically come full circle over the past 52 weeks.
The question now is will they keep moving lower or reverse course and turn higher again?
The answer will be determined by either increased unemployment or worsening inflation.
The question now is will they keep moving lower or reverse course and turn higher again?
The answer will be determined by either increased unemployment or worsening inflation.
September 9, 2025 at 9:20 PM
Mortgage rates have basically come full circle over the past 52 weeks.
The question now is will they keep moving lower or reverse course and turn higher again?
The answer will be determined by either increased unemployment or worsening inflation.
The question now is will they keep moving lower or reverse course and turn higher again?
The answer will be determined by either increased unemployment or worsening inflation.
Mortgage rates moved lower today on fewer job openings and higher layoffs.
When there are less jobs available, employers can pay less and that's good for wage inflation.
Bond yields dropped on the news and if labor comes in cold Friday, the 30-yr fixed may finally break meaningfully below 6.50%.
When there are less jobs available, employers can pay less and that's good for wage inflation.
Bond yields dropped on the news and if labor comes in cold Friday, the 30-yr fixed may finally break meaningfully below 6.50%.
September 3, 2025 at 10:06 PM
Mortgage rates moved lower today on fewer job openings and higher layoffs.
When there are less jobs available, employers can pay less and that's good for wage inflation.
Bond yields dropped on the news and if labor comes in cold Friday, the 30-yr fixed may finally break meaningfully below 6.50%.
When there are less jobs available, employers can pay less and that's good for wage inflation.
Bond yields dropped on the news and if labor comes in cold Friday, the 30-yr fixed may finally break meaningfully below 6.50%.
My friend got an email from his loan servicer yesterday saying he could tap $474k.
He didn't understand it. Said but I only owe ~$800k...
I said yeah, lenders require a buffer so you aren't levered to 100%.
A) Thank goodness for guardrails
B) Crazy how little the average homeowner understands
He didn't understand it. Said but I only owe ~$800k...
I said yeah, lenders require a buffer so you aren't levered to 100%.
A) Thank goodness for guardrails
B) Crazy how little the average homeowner understands
August 30, 2025 at 4:03 PM
My friend got an email from his loan servicer yesterday saying he could tap $474k.
He didn't understand it. Said but I only owe ~$800k...
I said yeah, lenders require a buffer so you aren't levered to 100%.
A) Thank goodness for guardrails
B) Crazy how little the average homeowner understands
He didn't understand it. Said but I only owe ~$800k...
I said yeah, lenders require a buffer so you aren't levered to 100%.
A) Thank goodness for guardrails
B) Crazy how little the average homeowner understands
Housing market sentiment is strange right now.
You have one side who thinks we're on the cusp of a bubble burst bigger than the GFC (any day now).
While the other side is gearing up for a home sales bonanza in 2026 on the heels of a new-look, super accommodative Fed.
You have one side who thinks we're on the cusp of a bubble burst bigger than the GFC (any day now).
While the other side is gearing up for a home sales bonanza in 2026 on the heels of a new-look, super accommodative Fed.
August 27, 2025 at 5:57 PM
Housing market sentiment is strange right now.
You have one side who thinks we're on the cusp of a bubble burst bigger than the GFC (any day now).
While the other side is gearing up for a home sales bonanza in 2026 on the heels of a new-look, super accommodative Fed.
You have one side who thinks we're on the cusp of a bubble burst bigger than the GFC (any day now).
While the other side is gearing up for a home sales bonanza in 2026 on the heels of a new-look, super accommodative Fed.
Chase has brought back its HELOC so homeowners can tap their equity again. But is it a good deal?
One thing I noticed is you have to draw at least 85% of the credit line (e.g. $85k/$100k).
And there is an origination fee up to 4.99%. Not all banks charge this fee or require a draw at closing.
One thing I noticed is you have to draw at least 85% of the credit line (e.g. $85k/$100k).
And there is an origination fee up to 4.99%. Not all banks charge this fee or require a draw at closing.
August 26, 2025 at 12:25 AM
Chase has brought back its HELOC so homeowners can tap their equity again. But is it a good deal?
One thing I noticed is you have to draw at least 85% of the credit line (e.g. $85k/$100k).
And there is an origination fee up to 4.99%. Not all banks charge this fee or require a draw at closing.
One thing I noticed is you have to draw at least 85% of the credit line (e.g. $85k/$100k).
And there is an origination fee up to 4.99%. Not all banks charge this fee or require a draw at closing.