home loans: Freddie Mac Weekly Update: Mortgage Rates Fall With Economic and Housing Reports - 04/28/11 08:23 PM
30-year fixed-rate mortgage:averaged 4.78 percent with an average 0.7 point for the week ending April 28, 2011, down from last week when it averaged 4.80 percent. Last year at this time, the 30-year FRM averaged 5.06 percent.The 15-year fixed-rate mortgage: this week averaged 3.97 percent with an average 0.7 point, down from last week when it averaged 4.02 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent. Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.51 percent this week, with an average 0.6 point , down from last week when it averaged 3.61 percent. A year ago, the 5-year ARM averaged 4.00 percent .One-year Treasury-indexed ARMs: averaged 3.15 … (0 comments)
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home loans: Mortgage Bankers Weekly Update: Mortgage Applications Decrease - 04/15/11 10:16 PM
Mortgage Bankers Association for the week of 4/13/2010 Market Composite Index: (loan application volume) a measure of mortgage loan application volume, decreased 6.7 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 6.3 percent compared with the previous week. Refinance Index: decreased 7.7 percent to its lowest level since February 11, 2011. Purchase Index: The seasonally adjusted Purchase Index decreased 4.7 percent from one week earlier. Refinance Share of Mortgage Activity: decreased to 60.3 percent of total applications from 61.2 percent the previous week. This is the lowest refinance share since May 7, … (2 comments)
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home loans: Freddie Mac Weekly Update: 30-Year Fixed-Rate Mortgage Moves Up to 4.91 Percent - 04/15/11 10:14 PM
30-year fixed-rate mortgage: averaged 4.91 percent with an average 0.6 point for the week ending April 14, 2011, up from last week when it averaged 4.87 percent. Last year at this time, the 30-year FRM averaged 5.07 percent. The 15-year fixed-rate mortgage: averaged 4.13 percent with an average 0.7 point, up from last week when it averaged 4.10 percent. A year ago at this time, the 15-year FRM averaged 4.40 percent. Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.78 percent this week, with an average 0.6 point, up from last week when it averaged 3.72 percent. A year ago, … (2 comments)
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home loans: Freddie Mac Weekly Update: 30 Year Mortgage Drops for Third Consecutive Week - 04/10/11 08:17 PM
30-year fixed-rate mortgage: averaged 4.86 percent with an average 0.7 point for the week ending March 31, 2011, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.08 percent. The 15-year fixed-rate mortgage: this weekend 4.87 percent with an average 0.7 point for the week ending March 3, 2011, down from last week when it averaged 4.95 percent. Last year at this time, the 30-year FRM averaged 4.97 percent.Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 4.15 percent with an average 0.7 point, down from last week when it averaged 4.22 … (0 comments)
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home loans: Mortgage Bankers Weekly Update: Mortgage Applications Decrease - 03/31/11 06:24 PM
Mortgage Bankers Weekly Update: Mortgage Applications Decrease
Mortgage Bankers Association for the week of 3/30/2010
Market Composite Index: (loan application volume) a measure of mortgage loan application volume,decreased 7.5 percent on a seasonally adjusted basis from one week earlier Refinance Index: decreased 10.1 percent from the previous week. The seasonally adjusted Purchase Index decreased 1.7 percent from one week earlier.Purchase Index: decreased 1.5 percent compared with the previous week and was 21.9 percent lower than the same week one year ago. Refinance Share of Mortgage Activity: decreased 10.1 percent from the previous week Arm Share: decreased to 5.7 percent from 5.9 percent of total applications from the previous week. MBA outlook: (Excerpted from … (0 comments)
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home loans: Freddie Mac Weekly Update: 30-Year Mortgage Up Slightly for Second Week - 03/31/11 06:19 PM
30-year fixed-rate mortgage: averaged 4.86 percent with an average 0.7 point for the week ending March 31, 2011, up from last week when it averaged 4.81 percent. Last year at this time, the 30-year FRM averaged 5.08 percent. The 15-year fixed-rate mortgage: this week averaged 4.09 percent with an average 0.7 point, up from last week when it averaged 4.04 percent. A year ago at this time, the 15-year FRM averaged 4.39 percent. Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.70 percent this week, with an average 0.7 point, up from last week when it averaged 3.62 percent. A year ago, the 5-year ARM averaged 4.10 percent . One-year Treasury-indexed … (0 comments)
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home loans: Mortgage Bankers Weekly Update: Mortgage Applications Decrease as Rates Jump - 02/10/11 03:02 PM
Mortgage Bankers Association for the week of 02/09/2010 Market Composite Index: (loan application volume) a measure of mortgage loan application volume, decreased 5.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 3.9 percent compared with the previous week. Refinance Index: decreased 7.7 percent from the previous week Purchase Index: decreased 1.4 percent from one week earlier. The unadjusted Purchase Index increased 4.8 percent compared with the previous week and was 16.6 percent lower than the same week one year ago. Refinance Share of Mortgage Activity: decreased to 66.6 percent of total applications … (0 comments)
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home loans: Fannie Mae Raises Borrowers Costs - 02/09/11 06:05 PM
Costs Will Increase For Buyers Regardless Of Credit WorthinessBeginning April 1, 2011 Fannie Mae will implement a higher interest rate to borrowers even if they have a perfect credit score for all loans term over 15 years. Freddie Mac will change its fee structure changes on of March 1st.Loan Level Price Adjustment Borrowers will be charged either a higher interest rate derived from the size of the down payment or how much equity is in their home for refis.Banks Get ConservativeRisk vs. Reward New home buyers shopping for mortgages will face these fee increases * Someone buying a home with credit … (2 comments)
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home loans: Mortgage Bankers Weekly Update: Applications Increase - 02/06/11 07:15 PM
Mortgage Bankers Association for the week of 0 2/02/2010 Market Composite Index: (loan application volume) A measure of mortgage loan application volume, increased 11.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 13.2 percent compared with the previous week. The previous week did not include a holiday adjustment for Martin Luther King, Jr. Day. . Refinance Index: increased 11.7 percent from the previous week Purchase Index: increased 9.5 percent from one week earlier. Refinance Share of Mortgage Activity: decreased to 69.3 percent of total applications from 70.3 percent the previous … (0 comments)
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home loans: Banks to allow local groups to buy foreclosures - 10/06/10 05:36 PM
Following on the success of the First Look program many larger banks are going to take a page from first look program. Banks will now allow local governments and nonprofits the ability to buy foreclosed homes before they are sold to private investors. The largest mortgage lenders in the country, including Bank of America Corp. and Wells Fargo have agreed to let the groups purchase the properties ahead of private investors. Neighborhood organizations will have up to 48 hours to evaluate bank owned property before professional investors get to view and bid for purchase. The idea is to level the playing … (0 comments)
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home loans: Fannie Mae: First Look Gives Home Buyers An Edge - 10/06/10 05:34 PM
First Look ProgramFannie levels the fieldWhat Is It Individuals and public entities are given a period of time, generally 15 days after a property is listed at HomePath.com. Homepath is the listing site for about 190,000 properties held by the GSEs. Individuals and public entities (read non profits) have a lead time over ionvestors to inspect and submit an offer to purchase. After 15 days, the listing is open to all potential buyers. The idea is to offer first to those who would live in the home and become stakeholders, adding stability to the community and to avoid too quickly putting … (0 comments)
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home loans: Freddie Mac Weekly Update: 30-Year Mortgage Rates at Highest Level in Eight Months - 04/08/10 04:33 PM
30-year fixed-rate mortgage: Averaged 5.21 percent with an average 0.6 point for the week ending April 8, 2010, up from last week when it averaged 5.08 percent. Last year at this time, the 30-year FRM averaged 4.87 percent. This is the highest the 30-year FRM has been since the week ending August 13, 2009 when it averaged 5.29 percent. The 15-year fixed-rate mortgage: Averaged 4.52 percent with an average 0.6 point, up from last week when it averaged 4.39 percent. A year ago at this time, the 15-year FRM averaged 4.54 percent. This is the highest the 15-year FRM has been … (0 comments)
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home loans: Freddie MAc Weekly Update: Rates Inch Up - 03/25/10 06:33 PM
30-Year Fixed-Rate Mortgage Flat 30-year fixed-rate mortgage: Averaged 4.99 percent with an average 0.6 point for the week ending March 25, 2010, up slightly from last week when it averaged 4.96 percent. Last year at this time, the 30-year FRM averaged 4.85 percent.The 15-year fixed-rate mortgage: Averaged 4.34 percent with an average 0.6 point, up slightly from last week when it averaged 4.33 percent. A year ago at this time, the 15-year FRM averaged 4.58 percent. Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 4.14 percent this week, with an average 0.6 point, up from last week when it averaged 4.09 … (0 comments)
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home loans: The Banks Are Finally Stepping Up - 11/12/08 01:51 PM
No Auction for Bad Mortgage Debt
Buying up bad mortgage debt was once what the TARP program was at its core. The idea was that banks would begin to lend again if there balance sheets were in better shape and they knew the value of what mortgages were worth. Because no institution was any longer buying mortgages, they couldnt put a value on them. Finally deciding to be prudent (after tanking the entire system) they just stopped lending.
The Govts first answer was to create an auction since this would provide a market place and others could bid on … (2 comments)
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home loans: A LIBOR Follow Up: Some Good news - 10/19/08 03:05 PM
What is It
The London Interbank Offered Rate is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the London wholesale money market. Most variable mortgages and short term loans are based on this rate. If it goes up your ARM follows.
What it means to you
The LIBOR rates have almost doubled, reflecting the fact that banks percieved so much risk. They didnt know whether the bank they loaned to would be there next week. Now we are watching some encouraging trends, bare beginnings but still … (0 comments)
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home loans: Fannie Mae Steps Up: Housing Recovery Initiatives - 05/08/08 12:48 PM
New programs designed to help the home owner should increase liquidity in the market place to the tune of $300 billion dollars. Banks are still not lending to each other and nothing stalls an economy like no money to loan. Fannie Mae will use the temporary increase in conforming loan limits to purchase jumbo-conforming mortgages under the same pricing structure accorded portfolio purchases of regular conforming loans. The higher limits will serve to include all those markets that are highly priced and add some liquidity for those folks in San Francisco, Manhattan, San Jose and other areas of highly priced markets. … (0 comments)
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home loans: Going Green: Finding the Money - 11/10/07 02:20 PM
Making your home more green is good on every level. It can save energy and money and frankly it feels good.The govt has a vested interest in helping you go green. The EEM or energy efficicent mortgage is a way Fannie Mae and Freddie Mac among others are providing money for homes for green upgrades such as efficient water heaters and appliances as well as larger projects like solar.Its the Government, so of course, there is process and procedure. First you need a special report called a HERS report. Here inspectors will come out and review your home's energy efficiency. If … (2 comments)
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home loans: Two Strategies for Getting Buyers into Homes - 08/29/07 01:12 PM
The Washington Post had a very good article about how buyers must work around the credit crunch. Basically the lack of trust in the mortgage markets is forcing investors to shun all loans that are no "conforming" loans. Freddie Mac Govt limitations will not allow them to purchase or guarantee a loan above $417.000. Anything above this amount is called a Jumbo Loan and the rates are much higher, if you can get one at all.
Two Strategies for Getting Buyers into Homes1. In many areas homes selling for under $417,000 after a buyers down payment should be much easier to finance … (0 comments)
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