mortgage loan: Mortgage Rates this holiday week... - 11/24/09 01:02 AM
Mortgage loan markets worsened last week on a mixed bag of economic data. Inflation data came in soft, but so did the start of the holiday shopping season.
For the first time in a month, mortgage rates worsened last week, adding roughly 0.125 percent on conforming fixed-rate products, and a little bit … (4 comments)
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mortgage loan: The 2010 Conforming Loan Limits - 11/21/09 04:05 AM
A conforming mortgage is one that, quite literally, conforms to the mortgage guidelines set forth by Fannie Mae or Freddie Mac.
Each year, the government sets the maximum allowable loan size for a conforming mortgage, based on "typical" housing costs nationwide.
Loans in excess of this amount are typically called "jumbo".
… (1 comments)
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mortgage loan: Gas Prices Rise, and so are mortgage rates! - 10/23/09 02:21 AM
With crude oil at its highest levels since October 2008, retail gas is up 8 cents per gallon this week.
It's bad news for home buyers and mortgage rate shoppers. The same force that's driving oil higher is linked to rising mortgage loan rates.
We're talking about the weakening U.S. Dollar which is … (3 comments)
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mortgage loan: Mortgage nightmare | HVCC appraisal regulation - 07/03/09 06:26 AM
The HVCC code of conduct is the result of a legal settlement with the attorney general of New York. It is applied nationwide. And it should be considered a case study in the value of the legislative process: If the HVCC had been a bill introduced into Congress, it would have … (43 comments)
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mortgage loan: How Accurately Did Economists Predict 2009 - 07/01/09 05:31 AM
With The Year Half-Over, How Accurately Did Economists Predict 2009
At the start of the year, the "experts" made a lot of predictions about the U.S. economy and what to expect in 2009.
Some said housing would rise
Some said housing would fall
Some said mortgage rates would rise
Some said … (0 comments)
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mortgage loan: If My Mortgage Lender Fails, Are My Payments Still Due? - 09/26/08 04:42 PM
Thursday, federal regulators seized mortgage lender Washington Mutual. The Seattle-based thrift became the third "big name" lender to close its doors since July, joining IndyMac and Lehman Brothers.
In 2007, these 3 lenders represented about 10 percent of the mortgage market and their subsequent failures are confusing American homeowners.
The most prevalent … (1 comments)
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mortgage loan: How To Lower Your Mortgage Rate Every Time The Market Dips - 09/20/08 03:10 AM
Getting a great, low mortgage rate is often a combination of luck and preparation.
Consider what happened in conforming mortgages this week:
Monday, mortgage rates plunged to their lowest levels of the year
Tuesday, they bounced back in full
Wednesday, they clicked higher by a eighth-percent
Thursday, they clicked higher by … (0 comments)
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mortgage loan: Converting Your Primary Residence To An Investment Property? You May Not Qualify For Your Next Mortgage - 08/26/08 06:43 PM
When a homeowner buys a new home, he has 3 options of what to do with his current residence:
Sell the home, paying off the mortgage in full
Keep the home as a second/vacation home
Convert the home to an investment property
The most common action plan is the first one -- sell … (1 comments)
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mortgage loan: Good News For Homeowners : Housing Starts Tumble In July - 08/20/08 03:58 AM
Housing Starts measure the number of new housing "units" on which construction has started and in July, Housing Starts fell to its lowest levels since March 1991.
For homeowners, this is a welcome bit of good news because as fewer homes are built, there is less inventory from which home buyers can … (0 comments)
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mortgage loan: Did You Know : The Lifespan Of A Mortgage Loan Approval? - 06/03/08 09:59 PM
Mortgage Loan approvals don't last forever.
A conforming mortgage loan approval from Fannie Mae or Freddie Mac has a shelf-life of 120 days.
After 120 days, the approval expires and a mortgage applicant must re-submit his application for consideration.
In addition, a mortgage loan approval can "expire" within the 120-day period … (1 comments)
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mortgage loan: May 12, 2008 Weekly Market Outlook! - 05/12/08 11:24 PM
Looking Back And Looking Ahead : May 12, 2008
With little economic news to influence trading and despite a late-Friday afternoon spike, mortgage loan rates edged lower last week.
Two weeks ago, when it lowered the Fed Funds Rate by a quarter-percent, the Federal Reserve noted two things:
The economy was stabilizing … (2 comments)
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mortgage loan: Did You Lender Freeze Your Home Equity Line of Credit? - 02/10/08 11:12 PM
I dont quite know how to explain this because Ive never heard of this happening before. In my 17 years of mortgage lending experience, I have never seen banks/lenders treat their good customers this way. As you probably know, many big banks and mortgage companies have TERMINATED THE RELATIONSHIP and closed the home equity lines of … (2 comments)
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