Ben Eisen

speaker

1,467 appearances 35 recordings 1 series first heard Jul 2017 last heard Nov 2024

Ben Eisen’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · It's Getting Harder to Secure a Small Mortgage · 10 May 2019 podcast

And maybe there's a balloon payment at the end. matched

But it often is not beneficial to the actual buyer because it's kind of like a hybrid between renting and owning where you have sort of the payments of homeownership, a down payment and monthly payments, but you don't necessarily have all the rights of homeownership until you pay off the contract in full. matched

So if you miss payments, it's easier to foreclose or evict the tenant. matched

Yeah, I think one thing that you see in this corner of the mortgage market is that some people who are seeking smaller loans do have certain credit issues, whether it's a bankruptcy in the past or a low credit score, or if it's just sort of a technicality. matched

One buyer who was looking to get a small loan told me that he was rejected from banks because he had a lease on a property that matched

That was large relative to his income, but he split it with three renters. matched

So it was kind of a technicality that his kind of debt to income ratio was so high, which is what kind of made him unable to get a loan. matched

And he said, you know, none of the big banks went to bat for me. matched

It was a technicality and I got denied just because of this technicality here. matched

There's definitely sort of more money on the line for a larger loan. matched

So what you see in, you know, if you go to the other end of the spectrum for the mortgage market, jumbo loans, these are big loans, too big to sell to Fannie Mae or Freddie Mac. matched

Banks are really, you know, they have heated competition in this space and they kind of trip over themselves to make loans to these kind of higher income, large homebuyers. matched

So in that sense, they're a bit more willing to be a bit more dynamic, it seems like. matched

WSJ Your Money Briefing · Time to Refinance? The 4% Mortgage Is Back · 29 Mar 2019 podcast

Yeah, you had mortgage rates around 5% back in November, and since then they've really taken a dive. matched

And especially in the last week, you've really seen mortgage rates fall. matched

Now they're down at 4.06%, so pretty close to 4. matched

Yeah, last week he was quoted 4.375% and he checked back this week and he was at 3.99%. matched

So what you've really seen is the yield on the 10-year Treasury note, which is sort of what guides the mortgage rate, has really fallen a lot over the last couple of days. matched

You have that happening as the Federal Reserve takes a pause on interest rate increases. matched

And there's also kind of some concern about the pace of the economy. matched

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