lenders: Mortgage Applications Down, Rates Rise
- 05/23/13 09:47 PM
Mortgage applications down, rates rise. Today I read this article from RealtorMag on how mortgage applications tumbled as mortgage rates soar. 15 year fixed at 2.96% and 30 year fixed at 3.78%... Mortgage applications last week dropped 10 percent after rates soared to their highest level since March, the Mortgage Bankers Association reported in its weekly mortgage market survey for the week ending May 17. The refinance index—which reflects applications for refinancing—fell 12 percent last week, while applications for home purchases dropped 3 percent. Still, applications for home purchases—viewed as a leading indicator of future home sales—were still 10 percent above … (3 comments)
lenders: Closing Costs
- 11/26/10 11:44 PM
This is an excerpt from the new book, "Finding New Neighbors" Closing costs are going to be required on any financed real estate purchase. Closing costs consist of a multiple of elements from origination fees from the lender, appraisal fees, pro-rated taxes, broker compliance charges, lender processing fees, underwriting requirements and charges, tax escrows and other specific items all detailed within the estimated proceeds page from the lender and/or Title Company. Typically these costs range from 3% to 6% of the total purchase price, depending on the level of the purchase value and the mortgage company requirements. Closing cost figures will … (0 comments)
lenders: Short Sales
- 11/07/10 01:22 AM
excerpt from the new book, "Finding New Neighbors" The process of conducting a short sale is less based on anything the buyer has to put into it with an offer than does the seller showing reason for the short sale. The seller has to first request a short sale package from their lender. They need to show cause for their distress or hardship. They have to show why they cannot continue their payments, why they must move, what has occurred with the property values as to why they have not simply sold the property in a normal fashion. The seller has … (0 comments)
Mortgage applications down, rates rise.
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