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news: Mortgage News You Can Use 5/21/2008 - 05/21/08 02:45 PM

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news: Mortgage News You Can Use - 04/26/07 03:29 PM
 
April 26, 2007
Rate Watch - Mortgage applications ended their five-week decline last week, helped by a decline in interest
rates. Mortgage applications have slipped in recent weeks, hurt by the recent crisis in the subprime mortgage
sector, which has fueled concerns that lenders may clamp down in loans to borrowers with weak credit.
Borrowing costs on 30-year fixed-rate mortgages averaged 6.13%, down from 6.22% the previous week.
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The New Home Sales Report showed some strength. The Median Price nationwide rose 6.4% to $254,000
and the monthly inventory of new Homes fell to a 7.8 month level from last month's reading of 8.1 months.
The amount of new … (0 comments)

news: Mortgage News You Can Use - 03/20/07 03:03 PM
         
                                                         March 20, 2007
The Subprime Dilemma-These loans have been around for years-so why all the drama now?
Many subprime and other adjustable home loan rates have moved dramatically higher, due in part to the Federal Reserve Boards recent rate hike cycle.  So as these rates are adjusting higher-and the payment right along with it-the homeowners are finding that they are unable to keep up with the dramatic increase in payment. 
In the past, homeowners in this situation would just throw the house on the market, realize enough of a profit to cover any prepayment penalties, and quite literally move on.  A soft … (1 comments)

news: Mortgage News You Can Use 1/11/07 - 01/11/07 03:05 PM
MORTGAGE NEWS YOU CAN USE
 
Rate Watch - Mortgage rates rose on solid job news after holding steady the previous week. The 30-year fixed mortgage rate averaged 6.21% for the week ending Jan. 11, up from 6.18% the prior week, according to Freddie Mac. 15-year fixed mortgages also rose slightly to 5.96% from 5.71% the prior week. A year ago, the 30-year fixed-rate mortgage averaged 6.15%.
 
The economic calendar for this week is light with no high-impact releases until tomorrow's Retail Sales report.
Ann Arbor Buyer and Seller Tidbits - From the 2006 Profile of Home Buyers and Sellers prepared for Ann Arbor Area … (0 comments)

 
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David Crisp

Ann Arbor, MI

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