Archive for Home Loan News
Home Mortgage Rates Drop Again
Even though rates are up from December, borrowers continue to be lured by the low mortgage rates. In 2010, home refinancing created the most volume for loan applications, but most economists believe that the home purchase loans will be the driving force in 2011. According to mortgage giant Freddie Mac, home loan rates fell for [...]
GSE Home Loan Limit Extension Passes
Mortgage lenders will tell you that negative equity in their homes has become a significant problem for borrowers attempting a mortgage refinance. Congress passed another extension on the $729,750 maximum GSE loan limit cap before leaving town for the November elections. With FHA mortgage rates below 4% on thirty-year fixed rate mortgages, most lenders and [...]
Home Loan Rates Fall for 11th Straight Week
Home loan rates declined to a record for the 11th straight week for new lows. The low rates helped spark home refinance activity as American homeowners continue to seek lower monthly payments. The average rate for fixed 30-year mortgage rates dropped to 4.32 % in the week ended today from 4.36 %, Freddie Mac said [...]
Banks Ease Guidelines on Prime Home Loans
A small fraction of banks eased their credit standards on prime home loans over the past three months, according to a July survey of senior loan officers by the Federal Reserve Board. Of the 57 banks surveyed, loan officers from five large banks said they “eased somewhat” and two smaller banks said they tightened somewhat. [...]
With Record Low Home Mortgage Rates Why Are Consumers Waiting
Home mortgage rates have not been this low in nearly fifty years, yet the volume for home loan applications has been declining over the last few months. Home prices are affordable again for thousands of families. Freddie Mac, said in a recent statement that “too many qualified borrowers are sitting on the sidelines because of [...]
Low Mortgage Rates for First Time Home Buyers
Today is a great day for first time home buyers who are looking to maximize their housing affordability. According to Freddie Mac, home loan rates fell to a new record low for the fourth time in five weeks. But low home mortgage rates haven’t been able to revive a struggling housing market. The weekly rate [...]
Home Refinancing Opportunities Fading?
2010 has been a great year for mortgage refinancing because the rates are at record lows. However, the writing is on the wall, Refinance now because home mortgage rates are going up soon. Most qualified borrowers have converted their home loan to a fixed rate mortgage, but there are quite a few homeowners that would like [...]
Second Mortgage Refinancing Difficult
Getting a second mortgage will be nearly impossible unless you have aton of equity and absolutely perfect credit. Cash out refinancing is available with FHA but not many homeowners are under 100% loan to value. Bad credit mortgage refinancing is very difficult to find outside of VA and hard money lending. There may be a chance [...]
FHA Mortgage Loan Opportunities with Bad Credit Mortgages
With the demise of the subprime mortgage sector, where do borrowers get a bad credit mortgage or a home equity loan with bad credit? These days, most homeowners little home equity to take cash out, and many borrowers have been delinquent on their mortgage payment because of rising interest rates or from experiencing a hardship [...]
Mortgage Rates Lower with fifteen-Year Fixed Home Loans At 4.36%
According to mortgage economist, Josh Emmons, “Home refinance opportunities always arise when interest rates for mortgage loans fall below 5%.” Home loan rates dropped this week and the average mortgage rate on thirty-year fixed-rate home loans declined below 5% to a four-month low, according to Freddie Mac’s report of mortgage rates surveyed from lenders nationwide. [...]