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Mortgage News, Tips and Advice
Home is a name, a word, it is a strong one; stronger than magician ever spoke, or spirit ever answered to, in the strongest conjuration.
Charles Dickens | More info: Home Buying TipsGeneral
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The Week Ahead: U.S. PPI and Retail Sales
Traders expect U.S. bonds to potentially move lower with very little
data for markets to digest next week. The main data releases in North
America are expected later on in the week with the issuance of
U.S. PPI, retail sales and the University of Michigan/Reuters
consumer sentiment figures.
"Outside of data, traders will look for more fallout from the credit
market crisis including a possible U.S. de facto nationalization
of Fannie Mae and Freddie," he said.
Read More Now
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Mortgage Delinquency Rate Hits 29-Year High in Second Quarter of 2008
Mortgage delinquencies for U.S. homes in the second
quarter of 2008 moved up six basis points from the previous quarter to
6.41% of all loans outstanding, marking a 29-year high, according to the
MBA's National Delinquency Survey released Friday.
Read More Now
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Study Says U.S. 'Housing Bubble Has Popped'
A report on housing prices by Global Insight says that although prices
for single-family homes are still heading downwards across the country,
the rate of decline has gone down and "extreme overvaluation of
house prices is essentially non-existent."
Read More Now
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Friday's Events: U.S. & Canadian Employment Reports; Ivey PMI
The Canadian and U.S. employment reports for August followed by the
Canadian Ivey PMI will be today's main highlights for North America. In
the afternoon, markets will also hear from San Francisco Fed President
Janet Yellen (non-voter).
Read More Now
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August Nonfarm Payrolls Decline 84k, Unemployment Rate at 6.1%
U.S. nonfarm payrolls declined for the eighth straight
month, falling more than expected by a total of 84k jobs in
August, according to the Bureau of Labor Statistics on Friday. The
unemployment rate was pushed up four-tenths to 6.1% (6.055%), well above
expectations that it would remain at 5.7%. Read More Now
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Fed's Fisher Says Inflation Might Not Moderate
The most hawkish voting member on the Federal Open Market Committee
said on Thursday that it's unclear whether slow growth will moderate
inflation into 2009, and said there are even odds that inflation
will accelerate from its current level.
Read More Now
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$7,500 Tax Credit Now Available to First-Time Home Buyers
When Congress passed the housing rescue bill (The Housing Assistance
Act of 2008) in July, we published an article about some of the
tax traps contained in the bill, waiting in hiding for
the unwary. Warnings duly noted, further information and the
regulations regarding this tax credit are now available. If you have an
interest in the program, here are some basic
facts... Read More Now
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MBA Mortgage Applications Move Up in Week Ending September 3
Weekly mortgage applications in the United States
increased in the week ending Sept. 3, according to data released from the
Mortgage Bankers Association (MBA) on Wednesday, which reported a 7.5%
week-over-week rise in applications.
Read More Now
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Thursday's Events: ECB & BOE Rates, ADP Employment, ISM Services, Fed-Speak
The Bank of England and European Central Bank rate decisions will kick
off the day, followed by the U.S. ADP unemployment report, initial
jobless claims, the ISM non-manufacturing index, Department of Energy oil
inventories and some Fed-speakers in the afternoon. Read More Now
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Initial Jobless Claims Rise to 444k
Initial claims for unemployment benefits in the
United States came in well above expectations, rising to 444k in the week
ending Aug. 30, the Department of Labor reported on Thursday. Continuing
claims rose to 3.435 million for the week ending Aug. 23.
Read More Now
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Weekly mortgage rate update for 6-02-06 Mortgage rates tick back up
Worries that the Federal Reserve will have to keep raising interest rates to fight inflation drove the prices of U.S. Treasury bonds down this week. But Friday' weak employment report sent them soaring. Yields, which move in the opposite direction of prices, had been climbing all week, but the post-jobs-report rally sent them to their lowest levels in more than two weeks.
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History Proves Current Mortgage Rates Are Near Historic Lows
While mortgage rates may have increased slightly over the past four years, they’re still the lowest they’ve been over the course of 25 years. So while we may be hearing that mortgage rates have increased, it’s still an excellent time to purchase or refinance with a low mortgage rate. 
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Surge in FHA Loans Leads Jump in Weekly Mortgage Loan Activity
A greater number of people applied for a mortgage loan to purchase or refinance a home last week than the one that preceded it, continuing a recent wave of positive economic reports regarding housing. 
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Improving Your Credit Score - Simple and Easy Steps
Anyone who has been watching the news for the last year knows it is tough to get financing for a home. Well, kind of. The truth is that people with large down payments – say 20 percent or so – and good credit will have no problems getting financing. But what if you aren’t blessed with cash and credit? 
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Mortgage Loan Activity Up; FHA Loans Surge
The number of Americans seeking a home mortgage to purchase a home or refinance an existing loan increased 0.5 percent last week, according to a weekly report issued today by the Mortgage Bankers Association (MBA). 
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Rise in New Home Sales Welcomed Sign for Housing Market
The sale of newly constructed homes in the month of July rose 2.4%, according to a report issued today by the United States Census Bureau. This follows a report issued Tuesday by the National Association of Realtors indicating that July sales of previously owned homes hit a 5-month high. 
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Existing Home Sales Hit 5 Month High Thanks to FHA Loans
The National Association of Realtors announced today that Existing Home Sales rebounded in July to a 5-month high. The report, which measures the month-over-month sale of previously owned homes, indicated sales of such homes increased 3.1 percent possibly influenced by FHA Loans. 
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Selling Your Home This Fall? Get the Tips You Need to Sell in a Buyer's Market.
Selling your home this fall? Historically, the fall season brings on slower home sale activity. Here's how to make your home the highlight of the house-hunt. While curb appeal is still very important, what you do on the inside of your home can be equally as powerful. 
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Home Loan Activity Slower Last Week, FHA Loans May Be Answer
For the second consecutive week, overall home mortgage activity fell 1.5 percent, according to a report issued today by the Mortgage Bankers Association (MBA). 
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Buying a Home? Get a Lower Rate With a Lender-Paid Rate Buy-Down!
What can homeowners and homeowner hopefuls do to lower their interest rate? A temporary rate buy-down paid by your lender! Some lenders are offering a temporary buy-down version of FHA mortgages. What’s a temporary buy-down? The program gives clients who are purchasing a home a reduced interest rate for up to the first two years that they’re in their home. 
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FHA Secure Now Helps More Homeowners Refinance With an FHA Loan
Last year, FHA rolled out FHASecure, a loan program designed to help homeowners with adjusting ARMs (adjustable rate mortgages) get a fixed rate. Last month, FHA re-launched FHA Secure with some fresh new guidelines aimed at helping even more homeowners. 
USA
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Jobs, mortgage rates fall Today's awful employment report is nice news for mortgage shoppers.
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1 in 11 owners in dire straits People are falling behind on mortgage payments and losing their houses in ever-increasing numbers.
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Who are the price gougers? The duopoly of Fannie Mae and Freddie Mac have imposed fees and restrictions to boost their top lines.
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The FDIC's loan-mod plan Now that the FDIC controls IndyMac, an institution that used to be one of the country's biggest mortgage lenders, she has her chance to show other mortgage servicers how it's done.
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Housing starts tumble Housing starts tumbled in July to their lowest level since Ronald Reagan's second year in office.
California
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Housing market appears to be slowing The U.S. housing market, having been haunt for the past few years, is expected to dissipate somewhat over the course of the next 12 months in conjunction with steady increases in long-term interest rates for residential home loans...
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Home sales volume declines Figures indicating sales volume for previously owned homes during the month of July showed a 2.6 percent decline compared to the period prior. Despite the minuscule drop, July ended-up having the third highest level of previously owned houses on record, according to the National Association of realtors...
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Interest rate prediction Last week the Federal Government boosted interest rates, as was anticipated by many forecasters. After raising rates as promised, the home loan market stabilized. ...
UK
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