November 28 2010 (Shirley Allen) New lending guidelines from Fannie Mae, set to take effect on December 13, will make securing a mortgage for first time buyers easier but it will also make it more difficult for those who carry a high level of debt to obtain a mortgage. Read more...
November 28, 2010 (Chris Moore) In a report issued by Moody’s Analytics, home prices nationally are expected to continue to decline through the first half of 2011 but the severity of the declines will most likely be dictated by the amount of real estate owned (REO) properties in the affected local market. Read more...
November 27, 2010 (Jeff Alan) It’s hard not to get caught up in all the negative news about the housing market and the mortgage loan business today. It seems like all we hear about is underwater home loans and foreclosures. You’d almost think that every American has negative equity or that no one can qualify [...]
November 26 2010 (Chris Moore) It seems everywhere you turn these days, whether it’s the morning newspaper or if you visit a website…even here on LoanRateUpdate, you will see charts of the latest mortgage rates. So are the rates that are listed really the rates that are available to you? Read more...
November 24 2010 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending November 19, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 2.1 percent on a seasonally adjusted basis from last week and is now at its highest level since the [...]
November 24 2010 (Chris Moore) Freddie Mac today released the results of its Primary Mortgage Market Survey® (PMMS®), which found that the 30-year fixed-rate mortgage (FRM) and the 15-year (FRM) edged up slightly this week. The 5-year ARM also rose, while the 1-year ARM fell a bit from the previous week. Read more...
November 23 2010 (Chris Moore) The foreclosure mess has caused a noticeable dip in the number of transactions involving REO’s and distressed properties. In October, distressed properties accounted for 44.3 percent of transactions tracked, down from 47.5 percent in September. Read more...
November 22 2010 (Shirley Allen) In a report released today by CoreLogic, shadow inventory of residential property as of August 2010, reached 2.1 million units. At current sales rates, that translates into an eight months worth of supply, up from 1.9 million, or a five-month’s supply, from one year earlier. With visible inventory remaining flat [...]
November 22, 2010 (Jeff Alan) Credit Bureau giant TransUnion’s quarterly analysis of the mortgage industry is predicting a continuing drop in the national mortgage delinquency rate following another decrease in the third quarter of 2010. The delinquency rate dropped form 6.67 percent in Q2 2010 to 6.44 percent in Q3 2010 making it the largest [...]
