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What’s Ahead For Mortgage Rates This Week: April 30, 2012
Mortgage markets were mostly unchanged last week for the second straight week. Continue reading
Posted in Economy & Markets
Tagged Fed Funds Rate, Mortgage Rates, Non-Farm Payrolls, Spain
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Pending Home Sales Index Shows Some Strength
The Pending Home Sales Index posted 101.4 in March, a four percent gain from the month prior and the index’s highest reading since April 2010, when the home buyer tax credit expired.
A “pending home” is a home under contract to sell, but not yet closed. The Pending Home Sales Index is tracked and published by the National Association of REALTORS® every month. Continue reading
Posted in Economy & Markets
Tagged Existing Home Sales, NAR, Pending Home Sales Index
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US Home Prices Dropped For a Sixth Straight Month in February
Home prices continued their slide in February, according to Standard & Poor’s Case-Shiller home price index. National home prices have now fallen a total of 35% from the highs hit in 2006 and are back at 2002 levels. With prices and mortgage rates as low as they are, this is a great time to purchase a home. Home affordability has already been better than it’s been in years, but it continues to get even better. Continue reading
What’s Ahead For Mortgage Rates This Week: April 23, 2012
Mortgage rates were largely unchanged last week, ending a three-week winning streak that saw mortgage rates drift lower from a short-term high in March. Conforming mortgage rates rose slightly according to the weekly Freddie Mac Primary Mortgage Market Survey. Nationwide, the 30-year fixed rate mortgage rate climbed 2 basis points to 3.90%. This rate was available to homeowners willing to pay 0.8 discount points and a full set of closing costs (1 discount point is equal to 1% of the loan amount). Prior to last week’s survey, just 0.7 discount points were required. Continue reading
What is the Difference Between a Wet Close and Dry Close?
If you’ve ever done a real estate or mortgage transaction, you may have heard the terms “wet close” or “dry close” mentioned by your loan or closing agent. These terms are basically mortgage lingo and refer to how the lender is required to close and fund your loan. It’s not essential that you know all the details associated with a wet close or dry close, but it’s useful to have a general understanding of what they are and how they’ll impact your next mortgage transaction. Continue reading
March Foreclosure Filings Fall Below 200,000 For the First Time Since July 2007
According to foreclosure-tracking firm RealtyTrac, foreclosure filings fell to 199,000 in March 2012, a 17% decrease from March 2011. Last month marks the first time since July 2007 that foreclosure filings numbered less than 200,000 on a monthly basis. Continue reading
What’s Ahead For Mortgage Rates This Week: April 16, 2012
Mortgage markets improved last week as a global flight-to-quality continued. Continue reading
Mortgage Rates Fall For Third Straight Week
After a brief surge north 4 percent last month, mortgage rates have settled back near their lowest levels of all-time. Continue reading
The Perfect Loan File: A Little Wisdom From Forbes About Going With the Flow in a Tough Lending Environment
If you’ve purchased a home or refinanced in the past few years, you’ve probably noticed that the process of getting a mortgage is much more involved and takes significantly longer than it did a few years ago. Continue reading
Best Cities to Raise a Family: The Forbes Top 10
Looking for a great place to raise a family? Forbes Magazine has a list that may help you. Continue reading
