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Recent Posts
- How to Pump Up Your Credit Scores
- What’s Ahead For Mortgage Rates This Week: May 14, 2012
- US Senate Introduces New Initiatives to Encourage Refinancing
- Mortgage Rates Hit Record Lows (Again!)
- What is a Reverse Mortgage?
- What’s Ahead For Mortgage Rates This Week: May 7, 2012
- Official Nonfarm Unemployment Rate Falls to 8.1%, But Here’s the Bad News
- Will a Judgment on Credit Prevent Me From Getting a New Mortgage?
- What’s Ahead For Mortgage Rates This Week: April 30, 2012
- Pending Home Sales Index Shows Some Strength
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How to Pump Up Your Credit Scores
It’s no secret that credit scores are an important part of your qualifications when you’re applying for a home loan. Lending guidelines are much tighter today than they used to be, so it’s more important than ever to keep your credit scores strong. If you have relatively low credit scores, you may have no problem qualifying for a home loan, but it will likely cost you significantly in the form of a higher rate and/or closing costs. Continue reading
What’s Ahead For Mortgage Rates This Week: May 14, 2012
Mortgage markets worsened slightly last week as positive U.S. economic news overshadowed growing concerns for the Eurozone’s future. Political and economic issues continue to weigh on Greece and Spain, and it’s still unknown how France’s new President will change that nation’s fiscal direction. Continue reading
US Senate Introduces New Initiatives to Encourage Refinancing
It looks like there may be some new refinancing initiatives coming down the line in the coming months. Three bills were introduced in Congress this week that are intended to “complete” President Obama’s 2009 State of the Union housing stimulus plan. Continue reading
Mortgage Rates Hit Record Lows (Again!)
Thanks largely to the debt turmoil in Europe, mortgage rates are plumbing new lows this week. If you’ve been on the fence about taking advantage of these rates, now is definitely the time to jump into the market and refinance. Continue reading
What is a Reverse Mortgage?
A reverse mortgage is exactly what it sounds like — a mortgage in reverse. Here’s some analysis on the program and how it could work for you. Continue reading
What’s Ahead For Mortgage Rates This Week: May 7, 2012
After two weeks of little change, mortgage markets got a little better and rates moved lower last week. Much of the decline could be traced to the the poor job numbers released on Friday. Continue reading
Posted in Economy & Markets
Tagged Eurozone, Freddie Mac, Mortgage Rates, Non-Farm Payrolls
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Official Nonfarm Unemployment Rate Falls to 8.1%, But Here’s the Bad News
CNN is reporting that the official unemployment rate has dropped to 8.1% with the release of the nonfarm payroll numbers this morning. At first glance, this might sound like a positive development, but unfortunately, it’s not all good news. Continue reading
Will a Judgment on Credit Prevent Me From Getting a New Mortgage?
If you have an open judgment in your credit file, it could become an issue if you’re planning to apply for mortgage financing. Unfortunately, most lenders are likely going to want you to address the judgment (and possibly get it paid and closed completely) before they’ll fund your loan. Continue reading
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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