home loans: Freddie Mac Weekly Update: Fixed-Rate Mortgages Hit a New Year To Date Low - 05/19/11 11:26 AM
30-year fixed-rate mortgage: averaged 4.61 percent with an average 0.7 point for the week ending May 19, 2011, down  from last week when it averaged 4.63 percent. Last year at this time, the 30-year FRM averaged 4.84 percent The 15-year fixed-rate mortgage: this week  averaged 3.80 percent with an average 0.7 point, down  from last week when it averaged 3.82 percent.  A year ago at this time, the 15-year FRM averaged 4.24 percent.  Five-year indexed hybrid adjustable-rate mortgages ARMs: averaged 3.48 percent this week, with an average 0.6 point ,  up from last week when it averaged 3.41 percent. A year … (1 comments)

home loans: Freddie Mac Weekly Update: Mortgage Rates Fall With Economic and Housing Reports - 04/28/11 01:13 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 … (0 comments)

home loans: Freddie Mac Weekly Update: 30-Year Fixed-Rate Mortgage Moves Up to 4.91 Percent - 04/15/11 03:22 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, … (0 comments)

home loans: Mortgage Bankers Weekly Update: Mortgage Applications Decrease - 04/15/11 03:20 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 … (0 comments)

home loans: Mortgage Bankers Weekly Update: Mortgage Applications Decrease - 04/10/11 01:11 PM
  Mortgage Bankers Association for the week of  4/6/2010 Market Composite Index: (loan application volume) a measure of mortgage loan application volume, decreased 2.0 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1.5 percent compared with the previous week Refinance Index: decreased 6.2 percent to its lowest level since February 25, 2011, on a seasonally adjusted basis Purchase Index:  increased 6.7 percent to its highest level of the year Refinance Share of Mortgage Activity:  decreased to 61.2 percent of total applications from 64.3 percent the previous week. This is the lowest refinance … (1 comments)

home loans: Freddie Mac Weekly Update: 30-Year Mortgage Up Slightly for Second Week - 03/31/11 11:29 AM
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 ARMs: averaged … (0 comments)

home loans: Mortgage Bankers Weekly Update: Mortgage Applications Decrease - 03/31/11 11:28 AM
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 mbaa.org) MBAA makes some interesting observations amid a general … (0 comments)

home loans: Wells and Quicken Reduce Loan Requirements - 03/31/11 06:45 AM
just a short FYI.. They are among the largest FHA approved lenders. Both lenders announced that they would overlay more stringent requirements than the FHA demanded. They have recently announced that they would once again lend to applicants with 580 FICOs and 3.5 percent down payments. Their revised standards are back in line with the FHA's own minimums. Hopeful home buyers will once again be open to so many that have lost top credit ratings in this economic decline.Wells Fargo is the largest originator of FHA-insured mortgages with Quicken coming in third. If you have been having trouble getting a loan recently you may want to revisit... Thanks for Reading Howard www.yourpropertypath.com
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home loans: Fannie Mae Raises Borrowers Costs - 02/09/11 10:04 AM
Costs Will Increase For Buyers Regardless Of Credit WorthynessBeginning 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 … (0 comments)

home loans: Mortgage Bankers Weekly Update: Applications Increase - 01/20/11 06:21 AM
Mortgage Bankers Association for the week of  01/19/2010 Market Composite Index: (loan application volume)   increased 5.0 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 6.4 percent compared with the previous week. Refinance Index: increased 7.7 percent from the previous week. This is the third consecutive weekly increase in refinance applications and is the highest Refinance Index observed since the beginning of December Purchase Index:  decreased 1.9 percent from one week earlier. The unadjusted Purchase Index increased 3.1 percent compared with the previous week and was 16.0 percent lower than the same … (0 comments)

home loans: Freddie Mac Weekly Update: Mortgage Rates Down for Second Week - 01/20/11 06:19 AM
 
30-year fixed-rate mortgage: Averaged 4.71 percent with an average 0.8 point for the week ending January 13, 2011, down from last week when it averaged 4.77 percent. Last year at this time, the 30-year FRM averaged 5.06 percent. The 15-year fixed-rate mortgage: Averaged 4.08 percent with an average 0.7 point, down from last week when it averaged 4.13 percent. A year ago at this time, the 15-year FRM averaged 4.45 percentFive-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 3.72 percent this week, with an average 0.7 point, down from last week when it averaged 3.75 percent. A year ago, the 5-year … (0 comments)

home loans: Freddie Mac Weekly Update: Long and Short- Term Mortgages Drop This Week - 01/13/11 02:33 PM
30-year fixed-rate mortgage: Averaged 4.77 percent with an average 0.8 point for the week ending January 6, 2011, down from last week when it averaged 4.86 percent. Last year at this time, the 30-year FRM averaged 5.09 percent. The 15-year fixed-rate mortgage: Averaged 4.13 percent with an average 0.8 point, down from last week when it averaged 4.20 percent. A year ago at this time, the 15-year FRM averaged 4.50 percent.Five-year indexed hybrid adjustable-rate mortgages ARMs: Averaged 3.75 percent this week, with an average 0.7 point, down from last week when it averaged 3.77 percent. A year ago, the 5-year ARM … (0 comments)

home loans: Mortgage Bankers Weekly Update: Mortgage Purchase Applications Increase - 11/26/10 08:49 AM
Mortgage Bankers Association for the week of  11/24/2010 Market Composite Index: (loan application volume)     increased 2.1 percent on a seasonally adjusted basis from one week earlier.  On an unadjusted basis, the Index increased 1.1 percent compared with the previous week. Refinance Index: decreased 1.0 percent from the previous week and is the lowest Refinance Index observed since the end of June.  Purchase Index: increased 14.4 percent from one week earlier, which included Veterans Day. No adjustment was made for the holiday. On a seasonally adjusted basis, this is the highest Purchase Index recorded since the week ending May 7, … (0 comments)

home loans: Banks to allow local groups to buy foreclosures - 10/06/10 10:42 AM
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 … (1 comments)