mortgage rates: Mortgage Turmoil Hits High End Consumers - 11/14/07 04:55 PM
by Gaurav Bhola, MSM
In what is seen as defensive posturing, mortgage lenders have decided to increase the mortgage rates on jumbo loans. Jumbo loans are considered non-conforming loans as opposed to conforming loans. The conforming loan threshold is set by two of the largest secondary market lenders, Fannie Mae (FNMA) and … (2 comments)
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mortgage rates: Mortgage Lenders Come Under Congress Home Loan Scanner - 11/14/07 04:45 PM
by Gaurav Bhola, MSM
Will the Congress come to the rescue of consumers to initiate reform of home loan mortgage lenders? It may. The Democrat-led Congress may submit legislation to place stringent measures to curb abuses within the mortgage industry.
The mortgage industry includes not only mortgage lenders, mortgage brokers, but also … (1 comments)
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mortgage rates: Debt Continues to Rise While Savings Slide - 11/14/07 04:26 PM
by Gaurav Bhola, MSM
Credit card debt is increasing everyday in the U.S. with consumer borrowing increasing significantly in May 2007, the biggest rise in six months. The Federal Reserve Bank stated this Monday that consumer credit climbed at an annual rate of 6.4 percent in May. This rise in consumer … (0 comments)
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mortgage rates: Mortgage Rates Fall to One-month Low - 11/14/07 04:07 PM
by Gaurav Bhola, MSMThe last three weeks have resulted in a consecutive decline in mortgage rates. This week's Freddie Mac survey reflected a national average for a 30-year fixed mortgage rate of 6.63 percent, down from 6.67 percent. Last year, the 30-year fixed mortgage rate averaged 6.79 percent. This is good … (0 comments)
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mortgage rates: Homeowners in Default Receive Help with Mortgage Loans - 11/14/07 03:22 PM
by Gaurav Bhola, MSM
As the foreclosure race heats up lenders may become less stringent in their approach towards defaulting homeowners. In the current climate the housing bubble keeps stretching not bursting. The number of mortgage foreclosures increased nationwide in April up 62 percent from last year. According to April figures released … (0 comments)
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mortgage rates: Eight Month High: Mortgage Rates Rise Yet Again - 11/14/07 03:10 PM
by Gaurav Bhola, MSM
It seems the housing market can’t catch a break. The economic pace is low, existing home sales are down, prices of homes are still in downward spiral, mortgage brokers and lenders are in doldrums, and millions of consumers can’t maintain their mortgage payments. So, in the middle of … (0 comments)
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