Mortgage rates inched up this week, despite the Fed’s latest efforts to hold rates low. Some experts worry that as investors gain confidence in the economy, rates may keep climbing. Others say there’s still plenty of bad economic news to keep rates at the bottom The Fed isn’t as optimistic… Read More
Rates Remain Low but Higher Loan Fees May Change That
Mortgage rates are expected to remain low for now, but borrowers will face higher loan fees, which will translate into slightly higher interest rates or points for borrowers. That’s because the guarantee fee on loans that can be sold to Fannie Mae and Freddie Mac is set to increase by… Read More
Mortgage Market News and Rate Survey
Pending Home Sales Rise 7.3% to Highest Level in 19 Months Dec 30th, 2011 Pending home sales continued to gain in November and reached the highest level in 19 months, according to the National Association of Realtors. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, increased… Read More
How the Housing Market Fared in 2011 and What’s in Store for the New Year
A housing economist recently noted that all the real estate market really needs to right itself is six straight months with no surprises. All the ingredients for a turnaround are there – record low interest rates, outstanding affordability, and very attractive home prices. But economic and political headwinds at home… Read More
Consumers Paying Credit Cards Before The Mortgage
Citing its data from recent years, TransUnion observed that before 2008, consumers for decades tended to pay their mortgage first “because it was their greatest asset,” says Steve Chaouki, group vice president for TransUnion’s financial services unit. But the crash in home values that began in 2008, coupled with rising… Read More
Fannie Mae Announces Eviction Moratorium for the Holidays
WASHINGTON, DC – Fannie Mae (FNMA/OTC) announced today that it will suspend evictions of foreclosed single family and 2-4 unit properties from December 19th, 2011 through January 2nd, 2012. During this period, legal and administrative proceedings for evictions may continue, but families living in foreclosed properties will be permitted to… Read More
Recent Update on FHA & VA changes .
Two Important Legislative Changes FHA Loan Limits Last Friday, the President signed a bill that enables HUD to restore the previous FHA loan county limits. This would mean that the FHA loan limits would be the greater of the current limit or the limits made available under the Economic Stimulus… Read More
