Author

Douglas E. Jensen

Douglas E. Jensen is a Colorado based mortgage expert who specializes in helping seniors stay in their homes by taking advantage of reverse mortgages. He holds the following licenses LMB# 100026825 NMLS# 368568 and has been working with seniors since 2003. You can contact him with questions through his website www.mortgageadv.com.

Business

Mortgage Interest Rates Hit 2-Month High, Reducing Demand for Housing

Douglas E. Jensen May 19, 2023

Rising interest rates have also contributed to a plunge in the demand for home refinancing loans as well, with applications recently decreasing 8 percent. File photo: 4 PM production, Shutter Stock, licensed. As inflation woes continue…

Business

Reports Indicate Mortgage Rates Are Decreasing, Currently Under 6% This Week

Douglas E. Jensen Apr 11, 2023

Home mortgages have shown decreases recently for the first time in months despite various increases and decreases between them overall. File photo: Monster Ztudio, Shutter Stock, licensed. DENVER, CO - A new report indicates that home…

Business

Finance of America Reverse Reduces Minimum Age for Second-Lien Reverse Mortgages to 55

Douglas E. Jensen Mar 17, 2023

Aside from the usual costs associated with reverse mortgages – such as property taxes, fees and homeowner’s insurance – there are no monthly payments associated with HomeSafe Second. File photo: Fizkes, Shutter Stock, licensed. DENVER,…

Business

Fannie and Freddie Expand Gift Donor List For Home Mortgages

Douglas E. Jensen Jan 31, 2023

Headquartered in Washington DC, seen here on May 23, 2009, Fannie Mae is the largest U.S. home funding company. File photo: Frontpage, Shutter Stock, licensed. DENVER, CO - The Federal National Mortgage Association (FNMA) - commonly…

Business

Mortgage Interest Rates Seeing Series Of Small Declines; Homebuyers Taking Note; Applications For…

Douglas E. Jensen Dec 15, 2022

Overall home mortgage applications rose this week 3.2 percent when compared to the week prior; this is in light of the November consumer price index released on Tuesday, which indicated that national inflation was finally starting to show…

Business

Despite Slight Decline in Mortgage Rates, Demand for Home Loans Slows

Douglas E. Jensen Aug 19, 2022

The lessened demand for mortgages as of late – despite the slight drop in interest rates – has been driven mainly by increased overall interest rates caused by the Federal Reserve’s aggressive attempts to curb the current 40-year high…

Business

Rising Interest Rates, Record-Breaking Inflation Results in 22-Year Low in Mortgage Demand

Douglas E. Jensen Jul 22, 2022

Currently, rates are now hovering near 6 percent, which represents a great deal less buying power for borrowers according to Joel Kan, an economist for the MBA. File photo: Prostock Studio, Shutter Stock, licensed. DENVER, CO – The…

Business

30-Year Mortgage Rate Jumps to 6.28 Percent, Was 5.55 Percent Just One Week Ago; Could Be 8.5…

Douglas E. Jensen Jun 15, 2022

Tuesday’s mortgage rate increase came on the heels of a 33-basis point increase on Monday by the Fed, with additional increases scheduled for June, July and September. File photo: Rabbitti, Shutter Stock, licensed. DENVER, CO - In…

Business

As Interest Rates on Home Loans Increase, Demand for Mortgages Begins to Cool Off

Douglas E. Jensen May 19, 2022

Part of the reason for rising interest rates stems from the Federal Reserve’s attempts to curb skyrocketing inflation and stabilize the housing market, which hit lofty levels not seen in many years during the COVID-19 pandemic. File photo:…

Business

Citizens Bank Provides Nearly $129 Million Construction Loan for Multifamily Project

Douglas E. Jensen Apr 11, 2022

Construction of the four-building Ashlar Park community will be carried out in phases, with initial occupancy slated for April 2023; the project is expected to be fully completed by April 2024. File photo: T. Schneider, Shutter Stock,…

Economy

Fed Hikes Rates for First Time Since 2018; Housing Market Expecting Higher Mortgage Rates as Result

Douglas E. Jensen Mar 17, 2022

The Fed’s Federal Open Market Committee approved a 0.25 percentage point rate hike during their meeting Wednesday, the first such increase since December 2018; in addition, officials indicated that there would be additional rate rises…

Business

Lending Limit for Fed-Backed Reverse Mortgages to Increase to $970,800 in 2022

Douglas E. Jensen Feb 11, 2022

The new maximum claim amount (MCA) for FHA-insured HECMs is an increase of nearly $150,000 over the previous 2021 high of $822,375, and is similar to the lending limit increase announced by FHFA. File photo: MDart10, Shutter Stock,…

Business

After Achieving Record Lows Amid COVID-19, U.S. Long-Term Mortgage Rates On The Move; Showing Signs…

Douglas E. Jensen Jan 13, 2022

As of the new year, mortgage rates hit their highest level since May 2020; however, while they are remain very low, experts indicate that the level of growth they're showing means that cheap money for home purchases should still be a…

Business

Borrowers Rush To Lenders As Mortgage Rates Dipped Amid Omicron Scare; Federal Reserve Set To Meet,…

Douglas E. Jensen Dec 15, 2021

Borrowers rushed to lenders for refinances due to interest rates that had dropped to historically-low levels due to an initial scare caused by the COVID-19 Omicrom variant. As of Wednesday, mortgage rates have remained stable and steady,…

Business

If You’re Looking To Refinance Your Mortgage Rate, The Timing Just Couldn’t Be Better

Douglas E. Jensen Dec 1, 2021

While shopping for a refinance requires the same process your initial loan involved such as maintaining a good credit score and lowering your debt-to-income ratio, the timing just couldn't be better to lock-in some of the lowest rates seen…

Economy

Biden’s FHA Updates to Student Loan Debt Policies Are Anticipated To Help Students With…

Douglas E. Jensen Jul 13, 2021

Congress created the Federal Housing Administration (FHA) in 1934. The FHA became a part of the Department of Housing and Urban Development's (HUD) Office of Housing in 1965. File photo: DC Stock Photography, Shutterstock.com, licensed. …

Finance

National Guard Members Now Eligible for VA Home Loans After Title 32 Duty, 90 Days of Service

Douglas E. Jensen May 25, 2021

A new piece of legislation signed in January expands eligibility and reduces the required days of service for National Guard members, opening qualifications for VA loans for tens of thousands of troops going forward, including those who…

Business

FHA Announced New Single Family Loan Limits For 2021

Douglas E. Jensen Dec 9, 2020

Due to robust increases in median housing prices and required changes to FHA’s floor and ceiling limits, which are tied to the Federal Housing Finance Agency (FHFA)’s increase in the conventional mortgage loan limit for 2021, the maximum…

Business

Seniors Look More Towards Reverse Mortgages Amid Coronavirus Outbreak; FHA Rolls Out New Options to…

Douglas E. Jensen Apr 30, 2020

With businesses deemed non-essential having been forced to close, over 26 million people have been out of work and have filed for unemployment.While many have been hit hard by the closures, seniors have been particularly vulnerable. Photo…

Business

Federal Housing Finance Agency (FHFA) Announces 2020 Conforming Loan Limit Increase for Fannie Mae,…

Douglas E. Jensen Dec 6, 2019

FHFA Director Dr. Mark A. Calabria, who was nominated by President Trump in January 2019, speaking on Housing Access and Affordability at a House Financial Services Committee hearing on access to affordable housing. Photo credit: C-SPAN. …

Business

Harvard Study: Number of Retirement-Age Households Facing Cost Burdens Reaches All-Time High Says…

Douglas E. Jensen Nov 5, 2019

A past panel and live webcast release of the Harvard Joint Center for Housing Studies annual State of the Nation's Housing report. Through its research, education, and public outreach programs, JCHS helps leaders in government, business,…

Business

FHA Changes Condominium Rules, Expected to Make Process to Obtain Reverse Mortgages Easier; Change…

Douglas E. Jensen Oct 9, 2019

HUD Secretary Ben Carson in a press release noted that the new rule will assist both seniors looking to maintain their current dwelling, as well as first-time home-buyers looking to start a family. Photo: C-SPAN. DENVER, CO – The…

Business

Reverse Mortgages: A Powerful Option for Senior Homeowners

Douglas E. Jensen Sep 18, 2019

In order to protect consumers, each reverse mortgage candidate is required to attend a free, confidential counseling session with a local independent housing counseling agency approved by FHA. File photo: Pixabay. GREENWOOD VILLAGE, CO…

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