Category: Mortgage

Mortgages Rates Drop Lower

Mortgage rates dropped this week another seven-one-hundredths of a point to an average of 4.84% down from last week on a conventional 30-year home mortgage, according to Freddie Mac. The national average was just two-one-hundredths of a point above year ago near record low interest rates. Mortgage rates have hovered at or below the 5%… Continue reading Mortgages Rates Drop Lower

Real Estate Mortgage Rates Lowest in Year as Refinances Surge

Real estate mortgage rates dropped to the lowest level in a year to below 5%, according to Freddie Mac’s mortgage market survey. A 30-year conventional rate home mortgage was just seven-one-hundredths of a point higher than a year ago driving a surge in refinances. Refinances increased to 57.7% of applications, marking more than an 8%… Continue reading Real Estate Mortgage Rates Lowest in Year as Refinances Surge

Real Estate Rewards Mortgage Rescue Program Hands Out $86 Million

By Mike Colpitts A mortgage rescue program intended to save under water mortgage holders from defaulting on mortgages has offered $86-million in real estate rewards to homeowners since launching. The private company program implemented by Loan Value Group, a New Jersey based firm has helped more than 1,000 mortgage borrowers in its first four months… Continue reading Real Estate Rewards Mortgage Rescue Program Hands Out $86 Million

Obama Moving Closer to Force Banks to Modify Mortgages

By Kevin Chiu U.S. Treasury Secretary Tim Geithner is frustrated with bankers and mortgage servicing companies, and he might even be bordering on being angry with his former colleagues in the banking industry. Geithner’s clear stated frustrations are leading to growing speculation in Washington, D.C. that the Obama administration may be moving closer to forcing… Continue reading Obama Moving Closer to Force Banks to Modify Mortgages

Majority Intend to Buy Real Estate Soon

Almost 2 out of 3 respondents to the latest Housing Predictor opinion poll say they plan on buying a home or other real estate in the next two years, apparently feeling that the bottom of the housing market is falling into place. The large majority of respondents feel more confident about real estate values rising… Continue reading Majority Intend to Buy Real Estate Soon

Low Mortgage Rates Strengthen Home Market

By Kevin Chiu Mortgage interest rates remain near historic lows, despite rising .04% in the last week, according to the Mortgage Bankers Association, providing strength to the nations home market. Many banking analysts expected rates would rise when the Federal Reserve halted buying mortgage-backed securities to strengthen the economy. However, a sampling of ten major… Continue reading Low Mortgage Rates Strengthen Home Market

Former Goldman Sachs Banker May Save Millions from Foreclosure

A former Goldman Sachs banker has launched an innovative company that may save 5 to 7 million mortgage borrowers from foreclosure. The private company works to negotiate with under water homeowners in an effort to reduce the number of mortgage holders who willingly walk away from their upside down mortgages. Loan Value Group, a Limited… Continue reading Former Goldman Sachs Banker May Save Millions from Foreclosure

Real Estate Agent Rebates Commissions

A new online start-up is basing its marketing plan on rebating real estate agent commissions to buyers, and it’s planted the concept by launching the program in the Garden State. New Jersey home buyers can get up to $15,000 back as a rebate from real estate agents commissions. www.HomeBuyerRebate.org was started as the pilot program… Continue reading Real Estate Agent Rebates Commissions

Fannie Mae Cuts Mortgage Guidelines to Help Borrowers

By Mike Colpitts Former homeowners who have lost their homes in a short sale or signed them back to the bank may get a break from Fannie Mae to buy a new home. The mortgage giant has cut mortgage guidelines, reducing the time to obtain a new mortgage from four years for troubled mortgage borrowers… Continue reading Fannie Mae Cuts Mortgage Guidelines to Help Borrowers