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Mortgage Rates Inch Lower
The average conforming 30-year fixed mortgage rate fell for the fourth consecutive week, settling at 5.13 percent according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.49 discount and origination points. The average 15-year fixed mortgage dropped to 4.54 percent but the larger jumbo 30-year fixed rate moved higher to [...]
Continue reading...After the Near Collapse of Wall Street… What’s Next for the Real Estate Industry?
25. January 2010
2nd Annual International Real Estate Capital Markets Conference In light of the current challenging economic conditions for real estate capital markets, Columbia Business School and Goodwin Procter LLP have partnered to present the 2010 International Real Estate Capital Markets Conference on Jan. 29, at the TimesCenter, 242 West 41st Street, N.Y. (agenda follows). The keynote speaker will [...]
Continue reading...Mortgage Rates Down for a Third Straight Week
22. January 2010
The average conforming 30-year fixed mortgage fell again this week, to 5.15 percent according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.45 discount and origination points. The average 15-year fixed mortgage dropped to 4.56 percent while the larger jumbo 30-year fixed rate retreated to 5.93 percent. Adjustable rate mortgages [...]
Continue reading...Mortgage Rates Move Lower
11. January 2010
The average conforming 30-year fixed mortgage decreased this week to 5.26 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.43 discount and origination points. The average 15-year fixed mortgage fell to 4.67 percent while the larger jumbo 30-year fixed rate inched lower to 6.14 percent. Adjustable rate mortgages [...]
Continue reading...US Department of Housing and Urban Development Releases Latest Version of Shopping For Your Home Loan
4. January 2010
HUD Booklet advises real estate buyers to search for an agent who will represent their interests in real estate transaction In its first revision in over 10 years, the US Department of Housing and Urban Development (HUD) advises home buyers that it is their responsibility to search for a real estate agent that will represent their [...]
Continue reading...Mortgage Rates Rise for the Fourth Consecutive Week
25. December 2009
The average conforming 30-year fixed mortgage increased this week to 5.24 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.45 discount and origination points. The average 15-year fixed mortgage moved higher, to 4.62 percent while the larger jumbo 30-year fixed rate inched upward to 6.16 percent. Adjustable rate [...]
Continue reading...Economic Stimulus and Low Rates Tempt Buyers to Bite Into the Housing Market - Chew on This Mortgage Expert’s Advice First
5. December 2009
For many homebuyers and homeowners, historically low rates and the new tax incentives on real estate in the government’s economic stimulus bill are like manna from heaven. But if you’re a first-time buyer or looking to refinance your existing home, here’s something you should chew on first: the latest book by mortgage expert Dale Vermillion, [...]
Continue reading...Bankrate: Mortgage Rates Set New Record Low
27. November 2009
The average conforming 30-year fixed mortgage rate fell to 5.00 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.44 discount and origination points. The average 15-year fixed mortgage was down to 4.47 percent while the larger jumbo 30-year fixed rate rose to 6.03 percent. Adjustable rate mortgages decreased [...]
Continue reading...Mortgage Rates Post Mixed Results
30. October 2009
The average conforming 30-year fixed mortgage rate inched higher to 5.35 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.37 discount and origination points. The average 15-year fixed mortgage was also up slightly to 4.74 percent while the larger jumbo 30-year fixed rate sank to 6.40 percent. Adjustable [...]
Continue reading...Qualified Home Buyers Rejected for Questioning Their Credit
26. October 2009
If consumers question a credit account, it could cause them to be refused a mortgage loan even though they meet all other loan requirements, according to credit expert Eddie Johansson, president of Credit Security Group. Johansson suspects this is a result of confusion about how to interpret and implement a new policy by Fannie Mae, the [...]
Continue reading...Foreclosure Deals’ Widgets: An Excellent Resource for Real Estate Pros
21. October 2009
What’s a widget? Foreclosure Deals announces some new features - its new widgets - created for easy and up-to-date foreclosure database access and mortgage rate information. “Widgets are a great way to build a user’s knowledge of the material on your Web site,” James Foxx, real estate expert with Foreclosure Deals, explains. “Foreclosure Deals offers a [...]
Continue reading...Jumbo Mortgage Rates Jump
21. September 2009
The average conforming 30-year fixed mortgage rate fell to 5.38 percent, according to Bankrate.com’s weekly national survey. The average 30-year fixed mortgage has an average of 0.32 discount and origination points. The average 15-year fixed also retreated, dropping to 4.72 percent, but the larger jumbo 30-year fixed mortgage rate climbed to 6.6 percent. Adjustable rate mortgages [...]
Continue reading...Why Should I Consider Refinancing?
21. August 2009
Homeowners who consider refinancing do so in order to save money on interest payments. If you intend to refinance, the rule of thumb is to ensure that the new interest rate is below two percentage points from what you are currently paying towards your mortgage. There are other reasons why a homeowner would consider refinancing. Let’s [...]
Continue reading...What Is an Interest-Only Option?
20. August 2009
When you take out a loan or buy merchandise with a credit card, the payments you make each month are paid against the principal of the loan and the interest accrued. For refinancing mortgages, the same holds true - with one exception. If you decide on an interest-only option payment plan, you pay the interest only [...]
Continue reading...Watch Out For The Prepayment Penalty
19. August 2009
What is a prepayment penalty and why is it incurred? A mortgage prepayment penalty is the means by which a lender can charge more interest when a mortgage is paid during the penalty period. The idea seems ludicrous, but the reason why lenders impose prepayment penalties is because if a homeowner pays off a mortgage in [...]
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1. February 2010
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