By Kevin Chiu Mortgage rates surge higher for the fourth consecutive week as Treasuries sold off at the highest level in six months, igniting tempers among many home buyers and homeowners who were waiting to lock-in rates, according to Freddie Mac. Mortgage rates have been particularly volatile as a result of the bond market. Rates… Continue reading Mortgage Rates Surge Higher
Category: Mortgage
Refinance Wave Ends on Higher Mortgage Rates
After four straight weeks of falling loan applications to refinance home mortgages the wave of refinancing has apparently come to an end, according to the Mortgage Bankers Association. It’s the lowest the index has been since last June, demonstrating that most homeowners who wanted to refinance their homes or could qualify to do so have… Continue reading Refinance Wave Ends on Higher Mortgage Rates
Refinancing Traps to Low Mortgage Rates
For three straight weeks mortgage rates jumped from their record lows, according to Freddie Mac. But is it a good time to refinance if you haven’t already caught the low rates? It really depends on what your financial situation and plans for your home are, so you can steer clear of refinancing traps, according to… Continue reading Refinancing Traps to Low Mortgage Rates
4-Million Receive Housing Assistance
By Kevin Chiu More than 750,000 homeowners received assistance through a Housing and Urban Development program funded by the American Recovery and Reinvestment Act (TARP) to prevent them from becoming homeless, according to HUD. The figure brings to more than 4-million families who have been helped through government programs and private bank initiatives to remain… Continue reading 4-Million Receive Housing Assistance
Pending Home Sales Surge
Driven by all-time record low mortgage rates, pending home sales surged in October as home buyers sought to take advantage of low interest rates before they rose, according to the National Association of Realtors monthly report. Pending sales, which are usually scheduled to close within a month or two and are still contingent upon inspections… Continue reading Pending Home Sales Surge
Refinances Drop as Mortgage Rates Rise
Refinances took a sharp drop demonstrating that most of those homeowners who wanted to refinance their mortgages have already done so or are unable to because their homes are too much upside down, according to a new survey from the Mortgage Bankers Association. The refinance index dropped 21.6% during Thanksgiving Day week on an adjusted… Continue reading Refinances Drop as Mortgage Rates Rise
Foreclosure Victim Turns Consumer Advocate
By Mike Colpitts Overcome by banking fraud and lies by bank and mortgage company employees, Michael Bang became a specialist on foreclosures before authoring a book on how to overcome the fraud of bankers and strategically walk away from a mortgage. As millions of American homeowners face the nightmare of foreclosure and tough economic times… Continue reading Foreclosure Victim Turns Consumer Advocate
A Daring New Year in Housing Prices
By Kevin Chiu Home inventories rising in most markets, mortgage rates moving higher and markets pulling out of their downturns only to return to negative territory. Some are. Some aren’t. Those are just a few of the factors impacting real estate markets as we move into the New Year affecting whether housing prices go up… Continue reading A Daring New Year in Housing Prices
Home Purchases Rise as Mortgage Rates Jump
By Mike Colpitts Mortgage applications to buy a home shot up more than 14% for the latest week reported by the Mortgage Bankers Association, indicating a major jump in home buying activity driven by near record low mortgage rates that are moving higher. Mortgage rates have slowly moved upward since hitting a record low of… Continue reading Home Purchases Rise as Mortgage Rates Jump
Home Sales Decline in October
Home sales declined in October after climbing for two straight months, according to the National Association of Realtors. Existing home sales are also nearly 26% below the pace a year ago when the federal tax credit was in effect. Sales on residential properties declined to a seasonally adjusted rate of 4.43-million for the month, a… Continue reading Home Sales Decline in October