All Entries Tagged With: "Mortgage Refinance"
Mortgage Rates Update: US Mortgage Rates Hits A New Historic Record Low
The US mortgage rates have again hit a historic record low. Rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks. Freddie Mac recorded the lowest rate since they started keeping statistics in 1971 and the lowest rate seen since 1950, according to National Bureau of Economic [...]
US Foreclosure Rate and Bank Repossessions Climb Again In August
Realtytrac, online foreclosure website, reported that the nation saw a 4% jump in foreclosure filings in August after the similar increase the month of July. All in all, one in every 381 US housing units received a foreclosure filing during the month. The agency’s US Foreclosure Market Report for August that includes default notices, scheduled [...]
UK Credit Mortgage Approval Decline In July
British Banker’s Association (BBA) reported that the number of mortgages approved for home purchases dropped by 877 in July as compared to the previous month and fell at 33,698. This was the second consecutive monthly fall in the figures and was in its highest point of 45,415 in December last year. According BBA’s submitted report, [...]
Homeowners with Lower Rates Experience a Quite High Mortgage Refinancing
Homeowners with lower rate currently experiencing a bit higher mortgage refinancing as the rate rose last month. The Bond Prepayment data shows that the primary reasons that deprive homeowners from taking advantage of record-low rates are reduced home prices and tighter credit standards. JPMorgan Chase, one of the oldest financial services firms in the world [...]
MBA Recoded Lowest Mortgage Rate Ever
People who always analyze and compare current mortgage rates might see some of the lowest numbers in mortgage history, the lowest in 20 years of record keeping by the Mortgage Bankers Association. In the past weeks on August 6, the 30-year fixed home loan average interest rate dropped from 4.6% the week before to 4.57%. [...]
FHA Offers Short Refinance Program to Underwater Borrowers
Starting September 7th the Federal Housing Administration (FHA) will offer homeowners who owe more than their home is worth a new refinancing option or “short refinance” opportunity. Hundreds of thousands of homeowners who are underwater on their mortgages may by having a lower rate and having their principal reduced through the FHA Short Refinance initiative. [...]
Bank of America Mortgage Repurchase Requests Total $11.1B
Bank of America, biggest U.S. lending company by assets, announced that they are facing a very limited number of requests to repurchase soured mortgages out of securities which lacked government-support guarantees. Bank of America, headquartered in Charlotte, North Carolina, claimed that unsettled mortgage repurchase requests form investors and insurers totaled approximately $11B on June 30th [...]
Home Loan Purchase Applications Rise in Third Consecutive Week
The Mortgage Bankers Association said last Wednesday that the demand for mortgage applications in purchasing homes increased last week for a third consecutive week. The Mortgage Bankers Association claimed that the volume of applications that was submitted for purchase mortgages up by at least 1.5 percent after the previous week’s 2 percent growth. And this [...]
Obama Administration OKs $600 Million in Foreclosure Prevention Aid for Five States
The Obama administration provided its go signal to release a $600 million of foreclosure-prevention aid to help unemployed homeowners to avoid foreclosures in five states. Last Wednesday Treasury Department assistant secretary for financial stability Herb Allison said that the five states who submitted mortgage-assistance proposals already received the government approval. The five states, such as [...]
Fannie Mae Mortgage Launched New Website to Help Homeowners to Avoid Foreclosure
Fannie Mae successfully created and launched a new website aims to provide support to struggling homeowners by providing vital information that might be the key to solve various housing and mortgage problems. The new Fannie Mae website supported both English and Spanish languages, as well as provided an efficient ways to contact their mortgage company [...]