Lenders are offering an average rate of 4.75% for a 30-year fixed mortgage, up from 4.72% last week, Freddie Mac says.
Mortgage rates rose slightly but remained near record lows this week after lenders reported the first increase in six weeks in the number of loan applications by would-be home buyers. But for the housing market, [...]
Posts Tagged ‘mortgage rates’
Mortgage rates rise slightly but remain near record lows
June 18th, 2010 by Mortgage Writer
Tags: borrowers, financial, Freddie Mac, home loans, homebuyers, housing market, lenders, mortgage banker, mortgage lending, mortgage rates, real estate, tax credit
more...Housing starts solid as mortgage rates watched
June 9th, 2010 by Mortgage Writer
Island residential construction jumps 37%, signalling stronger economic conditions.
The house-building industry is back producing homes at a rate comparable pre-recession rates in 2008.
The Canadian Mortgage and Housing Corporation, the federal agency that monitors the housing industry, is reporting solid year-over-year numbers in residential construction during the past year in its May industry report.
House construction is [...]
Tags: economic recovery, economy, financial, housing market, interest rates, investors, loans, Mortgage Bankers Association, mortgage market, mortgage rates
15-Year Mortgage Rate Falls Again: Can It Go Any Lower?
June 5th, 2010 by Mortgage Writer
The average interest rate for a 15-year fixed-rate mortgage hit a new historic low on Friday — 4.20 percent, down slightly from 4.21 last week. The last time the 15-year rate was that low was August 1991, when Freddie Mac began its weekly survey.
t was the third week in a row that the rate hit [...]
Tags: borrowers, business, economic recovery, economy, federal reserve, financial, Freddie Mac, home buyers, home loans, housing market, interest rates, mortgage lenders, mortgage rates, real estate, tax credit, US Economy
BofA: Mortgage Walkaways Have Huge Incentive
June 3rd, 2010 by Mortgage Writer
This morning executives at Bank of America [BAC 15.922 0.032 (+0.2%) ] rolled out their new “Principal Reduction Enhancement” program, which is an earned principal forgiveness plan for borrowers behind on their mortgages and whose loans are at least 20 percent underwater in value.
The plan is in conjunction with the government’s Home Affordable Modification [...]
Tags: bank of america, customer financial, foreclosures, homeowners, interest rates, mortgage market, mortgage rates, US Economy
Mortgage Rates Stay Low, But So Does Loan Demand
June 2nd, 2010 by Mortgage Writer
Can anyone say “tax-credit-induced hangover”?
Mortgage rates are still near 50 year lows, but demand for new-purchase mortgages fell for the fourth straight week to a new 13-year low, according to the Mortgage Bankers Association.
Average rates on 30-year fixed-rate loans were up slightly last week, to 4.83% from 4.8% two weeks ago. The effective rate, which [...]
Tags: borrower, debt, federal reserve, home buyers, interest rates, Mortgage Bankers Association, mortgage rates, tax credit
Mortgage Services III announces acquisition of Complete Mortgage Inc.
June 1st, 2010 by Mortgage Writer
Mortgage Services III LLC (MSI) has announced the expansion of its home loan division into the Greater Milwaukee area with the acquisition of Complete Mortgage Inc. of Sussex, Wis. The newly acquired team will be located at 20510 Watertown Court in Waukesha, Wis. The Waukesha office will focus on home purchases as well as refinancing [...]
Tags: economy, financial, home loans, investors, mortgage market, mortgage rates, mortgage servicer, The Federal Housing Administration, US Economy
Mortgage Interest Rate News and More
May 29th, 2010 by Mortgage Writer
In yet another report designed to help determine the state of the U.S. economy, the Mortgage Bankers Association has released their weekly mortgage report. The results are out on home purchase rates, mortgage interest rates, and refinance rates, and the news is not very positive.
While applications from homeowners who are trying to refinance their mortgages [...]
Tags: homeowners, housing market, interest rates, Mortgage Bankers Association, mortgage market, mortgage rates, tax credit
Expiring tax credits boost new home sales; mortgage rates, falling prices help
May 27th, 2010 by Mortgage Writer
New home sales surged last month as home buyers rushed to take advantage of tax credits that have helped lift the housing market, according to government data released Wednesday.
Sales of new single-family homes rose 14.8 percent in April, compared with March, to a seasonally adjusted annual rate of 504,000, according to Commerce Department data. Sales [...]
Tags: economy, financial, homebuyers, housing market, investors, mortgage rates, tax credit, US Economy
Hey, Mortgage Industry: Nobody Trusts You
May 25th, 2010 by Mortgage Writer
The mortgage banking industry knows it’s not the most popular kid on the block right now, but it tried to put a positive face on the state of the industry during a convention in New York on Monday.
The session kicked off with a feel-good video with uplifting messages such as “A Noble Profession” that flashed [...]
Tags: fannie mae, financial, Freddie Mac, global economy, homeowners, investors, Mortgage Bankers, Mortgage Bankers Association, mortgage market, mortgage rates, US Economy
Tax-credit deadline passes, mortgage applications swoon
May 23rd, 2010 by Mortgage Writer
You didn’t need to wait long for a sign of what the end of the home buyer tax credit program means: Mortgage applications by buyers fell 27 percent last week — following a 10 percent drop the week before — to their lowest level in 13 years.
“The data continue to suggest that the tax credit [...]
Tags: economy, financial, homebuyers, homeowners, interest rates, mortgage, Mortgage Bankers Association, mortgage payments, mortgage rates, tax credit, treasurys, US Economy
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