Adjustable Rate Mortgages Starting To Adjust Higher - 09/13/11 10:16 AM
09/13/2011 By admin Leave a Comment ARM adjustments creeping higher For the first time in a year, homeowners with adjusting mortgages are facing rising mortgage rates. The interest rate by which many adjustable-rate mortgages adjust has climbed to its highest level since September 2010, and looks poised to reach higher. This is because of the formula by which adjustable-rate mortgage adjust. Each year, when due for a reset, an adjustable-rate mortgage’s rate changes to the sum of fixed number known as a “margin”, and a variable figure known as an “index”. For conforming mortgages, the margin is typically set to 2.250 … (0 comments)

After A Pause, Mortgage Guidelines Resume Tightening.. - 09/08/11 01:58 PM
09/08/2011 By admin Leave a Comment Mortgage guidelines tighteningMortgage guidelines appear to be tightening with the nation’s largest banks. In its quarterly survey to senior loan officers nationwide, the Federal Reserve uncovered that a small, but growing, portion of its member banks is making mortgage approvals more scarce for “prime” borrowers. A prime borrower is described as one with a well-documented payment history, high credit scores, and a low monthly debt-to-income ratio. Of the 53 responding “big banks”, 3 reported that mortgage guidelines “tightened somewhat” last quarter. This is a tick higher as compared to prior quarters in which only 2 … (0 comments)

 
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Lori Blank

Gold Canyon, AZ

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LORI BLANK & ASSOCIATES, LLC

Address: Gold Canyon, AZ, 85118

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