Today’s Mortgage Interest Rates – Tuesday, March 31, 2009
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It's the last day of March which means home selling season is fast arriving! 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 Tuesday, May 31, 2009 (as of 11:30 am EDT). Find our rates below – each with their respective Read more
Lennar Offering 3.625 Percent Fixed Mortgage Rate
The battle to offer the lowest mortgage rate is in full swing, with homebuilders decidedly leading the way.
Struggling homebuilder Lennar, which is looking to dump its excess inventory, is offering a 3.625 percent (4.22% APR) “fixed “for life” mortgage on select homes, likely those in the hardest-hit areas of the country.
The offer is only good for purchase agreements written by April 23, and Read more
Not Just Borrowers Walking Away Anymore
Since the mortgage crisis got underway, the idea of walking away from your mortgage has been fairly commonplace.
But now banks and lenders are doing the same, putting burden back into the hands of those previously foreclosed on, according to a NY Times report.
One case, in South Bend, Indiana, tells of a woman who had her rental property foreclosed on, subsequently vandalized and looted, and eventually Read more
Mortgage Applications Surge as 30-Year Hits Record Low
Mortgage application volume surged during the week ending March 20 as the Fed made a pledge to buy up more mortgage-backed securities and treasuries, sending rates sharply lower, the MBA said today.
Home loans apps jumped 32.2 percent on a seasonally adjusted basis compared to one week earlier, 31.4 percent unadjusted, and were up 18 percent compared to the same week a year ago.
It was all about the refinances, Read more
Today’s Mortgage Interest Rates – Wednesday, March 25, 2009
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Mortgage rates are still at record-low levels and offer great opportunity 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, March 25, 2009 (as of 5 pm EST). Find our rates below – each with their respective loan programs. Don't forget to check out the assumptions we make for these Read more
New Home Sales Rise in Latest Report
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The U.S. Census Bureau and the Department of Housing and Urban Development today announced that sales of new, single-family homes rose in the month of February, increasing 4.7 percent from January’s numbers.
“New home sales rebounded nicely following January’s report of record-low activity. The number of existing homes on the market at astonishing prices has led many builders to scale back on construction while Read more
Mortgage Bankers Association Cuts 16 Percent of Staff
The embattled Mortgage Bankers Association cut another 20 full-time staff positions yesterday, according to National Mortgage News.
The layoffs affected roughly 16 percent of its workforce, which has now been reduced by some 30 percent since last year thanks to ongoing contraction in the mortgage industry.
The latest cuts included four of its vice presidents, bringing the association’s workforce down Read more
MBA Looks to Save Warehouse Lending
The Mortgage Bankers Association has proposed a solution to the warehouse lending shortage, which has pushed many smaller mortgage bankers to the brink despite the recent pickup in loan origination volume.
Warehouse lending, which provides short-term funding to smaller, independent mortgage bankers so they can compete with the likes of larger depository banks and lenders, has dwindled since the mortgage crisis took Read more
Yahoo! Finance: Mortgage Rates at 38-Year Low
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From Yahoo! News and the AP:
Rates on 30-year mortgages fell this week to the lowest level on record after the Federal Reserve launched a new effort to assist the staggering U.S. housing market.
Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dropped to 4.85 percent this week, from 4.98 percent last week. It was the lowest in the history of Freddie Mac's survey, Read more
Today’s Mortgage Interest Rates – Wednesday, March 25, 2009
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Mortgage rates are still at record-low levels and offer great opportunity 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 Thursday, May 26, 2009 (as of 5 pm EST). Find our rates below – each with their respective loan programs. Don't forget to check out the assumptions we make for these rates. Read more