Homeowners with lenders like Wells Fargo have been able to refinance for a lower mortgage interest rate, as rates have remained quite low over the past months. Homeowners have sought a lower monthly mortgage payment also, and for many who refinanced and got a lower interest rate on their home loan, a lower mortgage payment [...]
Archive for the ‘mortgage’ Category
Wells Fargo Homeowners Refinance For Lower Mortgage Interest Rate–Will A Lower Mortgage Payment Follow?
July 5th, 2010 by Mortgage Writer
Tags: financial crisis, home loans, homeowners, lenders, loan, money, mortgage market, mortgage payments, mortgage rates, real estate, tax credit, us interest rates, wells fargo
more...Advantages of Getting a Fixed Rate Term for Your Mortgage
July 3rd, 2010 by Mortgage Writer
Buying the house that you had always dreamed of is usually the culmination of a successful career. However, since you probably will secure a mortgage to have your dream house, the biggest consideration would most likely center whether you will go for a fixed rate mortgage or adjustable rate mortgage. Naturally, you would want a [...]
Tags: borrowers, financial, home loans, homebuyers, housing market, interest rates, money, mortgage loans, mortgage market, mortgage rates, real estate
U.S. housing market remains fragile despite low mortgage rates
July 2nd, 2010 by Mortgage Writer
After showing signs of a fledgling recovery from the worst downturn in decades, the U.S. housing market appears to be heading back toward the doldrums, as the expiration of a lucrative tax credit for buyers and increased uncertainty about the economy cause home sales to plummet.
The sudden weakness in residential real estate has struck nearly [...]
Tags: economic growth, home sales, housing market, interest rates, mortgage payments, mortgage rates, real estate, tax credit, Unemployment Rate, US Economy
Mortgage delinquencies fall but foreclosures up sharply
July 1st, 2010 by Mortgage Writer
For the first time in two years, fewer homeowners are missing mortgage payments, Treasury Department regulators reported Wednesday, but foreclosures are surging as many loan-modification efforts fail.
Three years have passed since the mortgage debacle made most sub-prime and nontraditional loans unavailable, and most loans since have been “plain vanilla” fixed-rate mortgages to prime-credit borrowers. The [...]
Tags: commerce department, financial market, foreclosures, home foreclosures, homeowners, housing market, loan modifications, Mortgage Bankers Association, mortgage payments, prime loans, tax credit
Banks Return to Commercial Mortgage Bonds
June 30th, 2010 by Mortgage Writer
Once dominant, and then dormant, commercial real estate loans are beginning to show signs of life on the trading floor after a two-year slump, Jotham Sederstrom reports in The New York Times.
Attracted by more conservative underwriting and the perceived bottoming-out of property values, banks like J. P. Morgan Chase and the Royal Bank of Scotland [...]
Tags: borrowers, commercial real estate, financial market, investment, jpmorgan, mortgage backed securities, real estate loans, stock markets, wells fargo
What Wall Street reform means for your mortgage
June 29th, 2010 by Mortgage Writer
Predatory lending would likely become a thing of the past if proposed regulatory reform rules are put into practice. And that may mean that mortgages get more expensive and more difficult to get, lenders warn.
The new rules, which Congress is expected to vote on this week, require that financial institutions ensure that borrowers can afford [...]
Tags: borrowers, business, financial, financial crisis, home loans, homebuyers, housing market, interest rates, lenders, mortgage, Mortgage Bankers Association, mortgage lenders, mortgage payments, real estate, subprime mortgages, us consumer
Despite Record Rates, Mortgage Activity Sluggish
June 28th, 2010 by Mortgage Writer
WARY CONSUMERS AND TIGHT REGULATIONS MAJOR FACTORS
On June 24, average 30-year fixed mortgage rates dipped to an all-time record low of 4.69 percent. It was reported that some brokers were quoting rates as low as 4.25 percent for well-qualified borrowers in parts of the country.
But if anyone is expecting a flurry of home buying activity, [...]
Tags: borrowers, brokers, home sales, homeowners, interest rates, mortgage brokers, mortgage market, mortgage rate, us consumer
Record low mortgage rates spur high interest in refinancing, sales
June 27th, 2010 by Mortgage Writer
Interest rates are falling to hitherto-unseen lows, thanks to a persistently volatile stock market and the ongoing debt crisis in Europe.
In fact, rates fell last week to their lowest level on record, fueling consumer incentives to lock in low payments for home purchases and refinanced loans.
The average rate for 30-year fixed loans sank to 4.69 [...]
Tags: debt crisis, financial market, Freddie Mac, housing market, interest rates, mortgage rates, stock markets, unemployment
Private Lenders to Keep 5 Percent of Risk Under New U.S. Rules
June 25th, 2010 by Mortgage Writer
Private lenders will be required to keep at least a 5 percent stake in loans they package and sell under an agreement reached by House and Senate lawmakers who are negotiating the financial-regulatory bill.
Lawmakers said the goal of the risk retention rule, also known as the skin-in-the-game provision, is to raise the quality of loans [...]
Tags: brokers, credit card, housing market, interest rates, lenders, loans, mortgage market, mortgage payments, mortgages, regulators, subprime mortgage, wall street
Mortgage Bond Prices Rise to ‘Insane’ Records: Credit Markets
June 24th, 2010 by Mortgage Writer
Mortgage securities with U.S.-backed guarantees are trading at record high prices on speculation homeowner refinancing will fail to accelerate and as supply of the bonds remains limited.
The average price of $5.2 trillion of bonds guaranteed by government-supported Fannie Mae and Freddie Mac or federal agency Ginnie Mae climbed to 106.3 cents on the dollar yesterday, [...]
Tags: bank of america, borrowers, commercial mortgages, credit, fannie mae, Freddie Mac, homeowners, housing market, money, Mortgage Bankers Association, mortgage securities, wall street
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