Purchase Mortgage Volume to Dip to Early 1990 Levels
The rate at which individual markets generate purchase mortgages will fall to levels not seen since the early 90s, according to iEmergent’s 2009-2013 Mortgage Volume Forecasts released today.
And while the company believes purchase mortgage lending volume will bottom out late next year, it’s not expected to recover to long-term historical trends until 2012.
For 2009, iEmergent expects total purchase Read more
Top 9 Conservation Tips for Winter-Time Home Selling
If your home is on the market during the winter season, potential home buyers will have your home’s energy efficiency at the top of their mind. Here’re a few tips to make your home more attractive to conservation-minded buyers.
Modernize your thermostat – Simply investing in a programmable thermostat is one of the easiest ways to conserve energy in your home.Position your thermostat for energy efficiency – Locating Read more
Fed to Cut Rates Again
Federal Reserve Chairman Ben Bernanke told Congress Thursday that America’s economic outlook has deteriorated and signaled that he was prepared to cut rates as needed to stimulate the econonmy.
Bernanke said the one-two punch of the housing and credit crises has put much pressure on our struggling economy. Hiring has slowed and people are likely to tighten their belts further, as they are pinched by high energy prices and watch Read more
FHA Loan Production More Than Doubles in Fiscal Year 2008
FHA lending is popular.
During fiscal year 2008, the FHA endorsed over 1.2 million single-family mortgages, up from 532,000 a year earlier, HUD said in its annual report.
That figure includes 111,661 Home Equity Conversion Mortgages (reverse mortgages), with the grand total representing $177 billion in new mortgage endorsements, up from $60 billion in 2007.
HUD credited the recent rise in FHA Read more
Texas FHA Lending Boom
Is the boom in FHA Lending a cause for concern? Nearly 20% of all new mortgages now insured by government agency. The Texas mortgage shakedown of the subprime mortgage industry and its fallout on conventional lenders has led to such a boom in business at the Federal Housing Administration that the agency is now insuring nearly one in five new residential mortgages, helping salvage some neighborhoods in some of the nation’s battered real estate Read more
Government Announces Loan Modification & Foreclosure Prevention Plan
On Tuesday, the Bush Administration laid out a plan to rescue struggling homeowners and put an end to the crippling housing market.
The plan is based around the mortgages held by now government-run Fannie Mae and Freddie Mac. The details of the plan are as follows:
What homeowners are eligible? This plan, like many others, is only available for mortgages on homes in which the owner lives in. Even further restricting, the homeowner Read more
Texas Home Refinance Options
There are many reasons to refinance, but did you know that there are three different types of refinance mortgages. These include a Fixed-Rate Mortgage, an Adjustable-Rate Mortgage, and a Cash-Out Refinance. Texas mortgage refinance can provide you and your family with extra money and ease the tension that debt may be causing you.
Like shopping for a new home loan, it is also important to shop for a replicable refinance broker. It Read more
Atmospheric Brown Clouds: Regional Assessment Report with Focus on Asia
http://www.unep.org/pdf/ABCSummaryFinal.pdf
Represents a summary for policy makers of research into the cause and effects of large clouds from the burning of fossil fuels and biomass. The clouds pose major threats to the water and food security of Asia and have resulted in surface dimming, atmospheric solar heating, and soot deposition in Himalayan glaciers and snow packs. From the United Nations Environment Programme.
Mortgage Applications Drop, Despite an Increase in Refinancing, in Latest Report
The number of Americans seeking a mortgage to purchase a home fell, while applications for those seeking to refinance increased, according to this morning’s Market Composite Index, released by the Mortgage Bankers Association (MBA).
The Index, which measures and compares mortgage loan application volume from week to week, showed that for the week ending November 14 mortgage activity fell 6.2% from the previous week’s numbers. Read more
If In Doubt, Raffle Your Home
If you’re falling behind on your mortgage and considering walking away, there’s always the raffle approach.
At least, that’s what one struggling mortgage broker has chosen to do after finding his $6,200 monthly mortgage payment too much to bear.
Tom Walters and his wife decided that instead of selling their home, they’d set up a raffle with a charity in the hopes of selling enough tickets to cover Read more
