Top Jumbo Mortgage Lenders in Fourth Quarter 2008
Most mortgage rates we see advertised are for conforming mortgages, which for sake of simplicity, are good for loan amounts up to $729,750.
But what about those of us looking for larger loans, otherwise known as jumbo mortgages? Who’s offering them and at what price?
Well, as I recently noted in an article, Return of the Jumbo, it looks as if this type of financing is making a bit of a comeback, after Read more
Is Finishing Your Basement Worth It? How This Change Could Help Sell Your Home!
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You've fantasized about a mancave. Okay, maybe one of you has fantasized about a mancave and maybe one of you has some other ideas like having an in-home workout space, an office or a playroom for the kids. No matter what you need the extra space for, a finished basement can almost always benefit you in the future when you decide to sell your home. Surprised? It's commonly said that putting money into finishing a basement isn't Read more
Nearly Half of Modified Mortgages Delinquent Again
Some things just can’t be fixed, like unaffordable mortgages, that is, if you don’t bother making them more affordable.
The OTS released its fourth quarter 2008 Mortgage Metrics Report today, which revealed that nearly half of recent loan modifications fell back into serious default within months.
“For example, the percentage of modified loans that were seriously delinquent (60 or more days past Read more
Home Equity Delinquencies Hit New Record High
It’s not just mortgage rates that are setting records; delinquencies are also climbing to levels never seen before.
The latest bad news comes from the American Bankers Association’s Consumer Credit Delinquency Bulletin, which revealed that delinquencies increased in nearly all consumer loan categories.
Home equity loan delinquencies, largely second mortgages, rose 40 basis points to 3.03 percent Read more
Today’s Mortgage Interest Rates - Friday, April 3, 2009
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Looking forward to the weekend, it's a great weekend for house shopping so let's get to the rates. Mortgage rates are still at record-low levels and offer great opportunities for home buyers and anyone interested in refinancing! Many specific factors are taken into account to determine which mortgage rate you’ll qualify for, but here are some general rates for Friday, April 3, 2009 (as of 11 pm EDT). Find our rates below - Read more
Austin Home Appraisers
You’ve completed your loan application and submitted it to your mortgage broker. Now you’re anxiously awaiting the home appraisal. What is an appraisal anyway and what does the appraiser mean to you and that mountain of paperwork you just completed?
Early in the loan process, your personal/financial approval is accomplished fairly early and commitment by the lender hinges on a satisfactory appraisal. In Read more
Wells Fargo Plans Foray Into Warehouse Lending
San Francisco-based bank and mortgage lender Wells Fargo is reportedly looking to venture into warehouse lending, according to Bloomberg.
The paper, which cited two people familiar with the matter, said the business would be based out of Atlanta, and headed by Kenneth Lognan, who was acquired via the Wachovia merger.
Back in February, Wells chief John Stumpf said the bank had been out of the warehouse Read more
Mortgage Apps See Slight Rise, Interest Rates Move Little
Mortgage application volume seems to have peaked, despite the record low interest rates currently on offer, which also appear to have bottomed.
Home loan apps increased just three percent on a seasonally adjusted basis for the week ending March 27 after surging a week earlier, the MBA reported today.
On an unadjusted basis, the index was up 2.9 percent compared to one week earlier and 68.8 percent compared Read more
Today’s Mortgage Interest Rates - Wednesday, April 1, 2009
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It's the first day of April and spring is well on its way–and with this buyer's market, so is the rush to buy houses! Mortgage rates are still at record-low levels and offer great opportunities for home buyers and anyone interested in refinancing! Many specific factors are taken into account to determine which mortgage rate you’ll qualify for, but here are some general rates for Wednesday, April 1, 2009 (as of 5 pm EDT). Read more
Mortgage Applications Increase Due to Great Bargains on Homes and Low Rates
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Last week, the number of Americans applying for mortgages decreased from the previous week, according to a report released today by the Mortgage Bankers Association (MBA).
The Market Composite Index, which measures and compares mortgage loan application volume from week to week, showed that for the week ending March 27, mortgage activity increased 3 percent from the previous week’s numbers. The number of consumers looking Read more