Today’s Mortgage Interest Rates – January 29, 2009
Today is Friday January 30th, 2009! Here are today's mortgage rates from Quicken Loans for YOUR Superbowl Friday!
Mortgage rates still remain low. There are several factors that determine which mortgage rate you’ll qualify for, but here are some general rates for Friday January 30th, 2009 (as of 11:00 am) to get you started. Check out the rates below for their respective home loan programs, then please pay close attention Read more
FHA Lending Projected to Be Big in 2009
Market research company iEmergent expects the FHA to be a major player in the mortgage market this year, according to their 2009 forecast released today.
The company currently forecasts 1.4 million owner-occupied FHA purchase loans in 2009, representing total purchase volume of $245.9 billion.
When you factor in refinance transactions, that number could be as high as $400 billion.
Part of the Read more
Mortgage Application Volume Crumbles
What a difference a week makes…
Mortgage application volume slipped for the second week in a row, falling a whopping 38.8 percent on a seasonally adjusted basis during the week ending January 23, the MBA reported today.
On an unadjusted basis, the home loan application index was off 46.5 percent from one week earlier and 40.4 percent compared with the same week a year ago.
The precipitous Read more
Today’s Mortgage Interest Rates – January 29, 2009
Today is Thursday, January 29, 2009. Here are today's mortgage rates from Quicken Loans.
Mortgage rates still remain low. There are several factors that determine which mortgage rate you’ll qualify for, but here are some general rates for Thursday, January 29, 2009 (as of 1:00 pm) to get you started. Check out the rates below for their respective home loan programs, then please pay close attention to the explanation of Read more
Today’s Mortgage Interest Rates – Morning of January 27, 2009
Today is Tuesday, January 27, 2009. Here are today's mortgage rates from Quicken Loans.
Mortgage rates still remain low across the board this morning. There are several factors that determine which mortgage rate you’ll qualify for, but here are some general rates for Tuesday, January 27, 2009 (as of 9:00 am) that can get you started. Check out the rates below for their respective home loan programs, then see a short explanation Read more
Bankruptcy Cram Down Could Reduce Foreclosures 20 Percent
Proposed legislation that would allow bankruptcy judges to modify the terms of mortgages on primary residences could reduce foreclosures by 20 percent, according to a report from Credit Suisse.
The investment bank’s analysts believe that if such legislation were to become law, it would prompt banks and lenders to step up loan modification efforts.
“We expect the new bankruptcy reform will increase Read more
Alt-A Mortgages Drive ING Loss, Layoffs
Apparently no company is exempt, not even ING, which remained relatively quiet over the past year as the mortgage crisis ravaged hundreds of other seemingly unbreakable financial institutions.
The Dutch Bank said today it expects to lose 3.3 billion euros in the fourth quarter as a result of bad mortgage bets, pushing the company to a 1 billion euro loss for all of 2008.
“In the fourth quarter market Read more
How the 2009 Stimulus Package Will Effect Interest Rates
As a presidential candidate in 2008, Barack Obama announced an immense stimulus package proposal of $175 billion. After taking office, President Obama is now considering a much larger proposal package that could exceed $500 billion. There are a few stipulations in this proposal that President Obama has considered in past proposals that could directly affect whether or not you receive a stimulus check. Some of the proposals Read more
Today’s Mortgage Rates – January 25, 2009
Today is Sunday, January 25, 2009. Here are today's typical mortgage rates from Quicken Loans, based on financial markets that closed Friday, January 23, 2009.
Mortgage rates remain low from the close of the financial markets Friday. Several things go into determining what mortgage rate you’ll qualify for, but here are some general rates for Sunday, January 25, 2009 (as of 11:30 am) that can get you started. Below the rates Read more
Rate Watch: January 28, 2009
Rates have just been released and below are scenarios based on today’s numbers:
Scenario 1: Purchasing a new home
Debby recently sold her home of 15 years and is looking for something smaller and closer to her work. She found a great three bedroom for $180,000.00. Using some of the of the money from the sale of her previous house she is going to put 20% down and would like to see the difference between Read more