30-year mortgage rates increased slightly in this week’s Mortgage Applications Survey released by the Mortgage Bankers Association (MBA). The average contract interest rate for 30 year mortgages rose to 4.92 percent, up from last week’s average 30 year mortgage rate of 4.88 percent. Average mortgage discount points were down to 1.08 points from 1.17 points.
Looking [...]
Posts Tagged ‘Mortgage Bankers Association’
Current Mortgage Rates at 4.92%
December 16th, 2009 by Mortgage Writer
Tags: home equity, loan, mortgage, Mortgage Bankers Association, mortgage loan, mortgage rates
more...Few mortgages permanently modified
November 30th, 2009 by Mortgage Writer
In October 2008, JPMorgan Chase & Co. shaved 25 percent off Rick Mullen’s mortgage payment by lowering his interest rate, helping him to stay in his Valencia, Calif., home despite a downturn in his small business refurbishing large shipments of damaged shoes.
More than a year later, Mullen is grateful but frustrated, he says, because Chase [...]
Tags: bank of america, borrowers, foreclosure, interest rate, lenders, loan, Mortgage Bankers Association, mortgage payment, Obama, small business, Treasury's Office of Homeownership Preservation
Last Week Mortgage Applications Declined
November 26th, 2009 by Mortgage Writer
For the second week straight, mortgage applications dropped 4.5%.
According to the Mortgage Bankers Association’s index, mortgage applications dropped from 629.1, during the prior week, to 601 last week, which is a 4.5% decrease.
Government programs have been helping the housing market recover from the worst economic crisis since the 1930’s. The first time home buyer [...]
Tags: home buyers, low mortgage, mortgage, Mortgage Bankers Association, tax credit
Stocks Decline in Early Trading as Dollar Rises
November 20th, 2009 by Mortgage Writer
Stocks fell in early morning trading Friday as the dollar continued to strengthen, and after a week of mixed economic reports.
Overseas markets declined. European Central Bank President Jean-Claude Trichet said the ECB plans to start pulling back some of its stimulus programs as the economy begins to recover.
With little U.S. economic news to help sway [...]
Tags: dollar rises, European Central Bank, foreclosure, homeowners, investors, mortgage, Mortgage Bankers Association
Recent mortgage compliance activity
October 30th, 2009 by Mortgage Writer
Several recent offerings aim to ease compliance with constantly changing regulations. One involves company manuals, and another involves a series of Webinars.
An announcement from the Mortgage Bankers Association’s annual conference in San Diego indicated that a dashboard feature was added to MIRACLE Online by MRG Document Technologies.
MRG said the system is browser-based for the preparation [...]
Tags: bank regulation, Community Bankers Association, customer financial, Independent Community Bankers of America, insurance, lenders, mortgage, Mortgage Bankers Association, Mortgage Disclosure Improvement, news