Minnesota Mortgage Blog - Mortgage and Real Estate News You Can Use

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Mortgage and Lending - Cambria Mortgage - NMLS 274132
Mortgage industry news and insights from a 15+ year industry expert. Mortgage and Real Estate News You Can Use

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2013 

Mortgage Rates Hit 2013 Lows, Big Week Ahead   Market Summary Minneapolis, MN: Mortgage rates finally made a break from a narrow range that's persisted since April 15th.  They'd edged up to the top of that range by Thursday, but then made their first authoritative move lower to end the week at th...
04/26/2013
Minneapolis, MN:  According to a recent information from EllieMae, the average mortgage customer today has the following status: Average credit score: 743 Average down payment: 19% Average housing debt ratio: 25% of income Average overall debt ratio: 35% of income Average score of a denied client...
04/25/2013
St Paul, MN: The latest report from the Minnesota Association of Realtors shows what we mortgage lenders already knew... That lower quality inventory is sparking higher prices across the state, but primarily in the Minneapolis / St Paul area. The report for March showed the lowest number of homes...
04/23/2013
Minneapolis, MN: The Federal Housing Finance Agency (FHFA) has directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program (HARP 2.0) by two years. The program was to expire at the end of 2013, but will NOW expire December 31, 2015. The HARP program is being extended so mo...
04/12/2013
Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates edging down for the second consecutive week following weak employment reports. The average 30-year fixed-rate mortgage at 3.43 percent this week remains near its 65-year record lo...
04/12/2013
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Mortgage Interest Rates Hit a One Month Low. Is it time to lock? Minneapolis, MN: Mortgage rates improved at their fastest pace in a week, bringing most lenders’ rate sheet offerings to their best levels since the first few days of March.   READ THE FULL STORY   Joseph Metzler, MLO. MMS.  NMLS #...
04/03/2013
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