Category: Mortgage

Investing in Rental Housing

By Lois A. Vitt, Ph.D. Reasons for investing in rental housing include opportunities to make a profit, tax advantages to write-off mortgages and income from rents. So why not make the decision to buy more than one home—perhaps two, three, or even more? If you have what it takes to invest in and manage rental… Continue reading Investing in Rental Housing

Pending Home Sales Rise as Mortgage Rates Fall

Demonstrating that markets make erratic movements even in the midst of a decline, pending home sales rose slightly in July over June, according to the National Association of Realtors, while mortgage rates continued their downward slide. A 30-year fixed rate mortgage declined to 4.32% down .04% from a week ago, according to Freddie Mac. Pending… Continue reading Pending Home Sales Rise as Mortgage Rates Fall

Refinances Rise on Soft Home Sales

Refinance applications hit another milestone as homeowners came out in droves to take advantage of mortgage rates that are hovering in record low territory, according to the Mortgage Bankers Association. Applications on new home purchases also inched up slightly for the week, despite a major fall-off in home sales. The bankers refinance index rose 2.8%… Continue reading Refinances Rise on Soft Home Sales

Outrage Rises over Sinking Home Prices

By Kevin Chiu Home mortgage purchase applications fell for nearly two straight months. The plunge in home sales was evident to real estate economists, yet those polled for the survey some how refused to see the evidence for what it was. Refinancing mortgages is becoming the main-stay of the mortgage business, indicating that homeowners who… Continue reading Outrage Rises over Sinking Home Prices

Refinancing Applications Rise

Spurred by record low mortgage rates, applications to refinance home mortgages rose to a new high last week and applications for new home mortgages were up slightly, according to the Mortgage Bankers Association. The rate at which consumers are applying to refinance their home mortgages hit a new peak. The bankers’ market composite index, which… Continue reading Refinancing Applications Rise

Low Rate Mortgage Lock Out

By Kevin Chiu Mortgage rates hit 4.42% for a 30-year fixed rate mortgage, the lowest on record. But a growing number of homeowners are ignoring the lower rates locked out from obtaining them due to more restrictive mortgage underwriting guidelines. The new lower rates may make great headlines and TV news fodder but they’re doing… Continue reading Low Rate Mortgage Lock Out

Millions Walking Away from Mortgages Could Still be Helped

A non-government backed mortgage rescue program started to stop homeowners walking away from mortgages is gaining momentum with the addition of Ohio’s Hardest Hit Fund. The state is one of the most severely impacted in the foreclosure crisis. The Responsible Homeowner Reward program has been included as an alternative resource in the state’s Hardest Hit… Continue reading Millions Walking Away from Mortgages Could Still be Helped

Mortgage Rates Drop to New Low Again

Mortgage rates dropped to another record low at 4.42% for the week, the ninth straight week the 30-year fixed rate mortgage has moved lower or stayed the same, according to Freddie Mac. The 5-year adjustable rate mortgage remained at the same rate it was a week ago. The 30-year mortgage moved down just .02% for… Continue reading Mortgage Rates Drop to New Low Again

Refinances Lead Mortgage Surge

A huge surge in the volume of refinancing applications, triggered by record low mortgage rates may indicate improving market conditions are developing. The combined Mortgage Bankers Association index increased 13% over the previous week. Refinancing rose a mammoth 17.1% for the week to reach its highest level since May of 2009 as all-time low mortgage… Continue reading Refinances Lead Mortgage Surge