mortgage: Will mortgages cost more in the future for Arlington home buyers?
- 03/06/11 03:12 PM
Will mortgages cost more in the future for Arlington home buyers? If you are thinking about buying a home in Arlington or refinancing your mortgage, you should read two articles from Friday's New York Times: "A Plan to Phase Out Fannie Mae and Freddie Mac" and "Without Loan Giants, 30-Year Mortgage May Fade Away." Both articles suggest that proposed changes to Fannie Mae and Freddie Mac could increase borrowing costs and limit financing choices. Who are Fannie and Freddie? They are quasi-governmental organizations that provide a secondary market for home loans by guaranteeing mortgages from the lenders who originate them –allowing … (2 comments)
mortgage: Arlington VA mortgage rates drop to 1951 levels
- 10/17/10 12:21 PM
Arlington VA mortgage rates drop to 1951 levels Mortgage rates hit another record low this week with the average 30-year fixed-rate conventional loan dropping to 4.19%*. That’s the lowest rate since April 1951 when television was black and white, a new car cost $1,500 and you could buy a new house for $9,100! I don’t know if I’d want to go back to a time when turn signals were an “option” on cars, but I’ll take that low mortgage rate. According to this week’s weekly mortgage survey by Freddie Mac, the second-largest U.S. mortgage finance company, mortgage rates have gone … (2 comments)
mortgage: Mortgage Rates for Arlington Home Buyers Hit-50 Year Low
- 06/29/10 02:36 PM
Freddie Mac reported that mortgage rates for Arlington, VA, home buyers hit a 50-year low last week. That’s great news if you are looking to buy a home in Arlington or refinance the mortgage you already have. What’s the rate? What's the rate? That depends on how much you borrow. Here are rates from one local lender.
If you obtain a 30-year fixed-rate loan of $500,000 at 4.75% your monthly mortgage and interest payment will be approximately $2,600 per month (does not include taxes and insurance). Learn more about mortgages at my website's interactive mortgage learning center. Why so … (0 comments)
mortgage: Senate Votes To Toughen Standards For Home Loans
- 05/14/10 02:19 PM
The U.S. Senate voted Wednesday to toughen standards for home loans. An amendment to the Wall Street reform bill now being debated would: Ban “no doc” or “liar’s loans” requiring lenders to document income and ensure borrowers can afford their loans. Stop hidden payments to mortgage brokers for steering borrowers into higher-cost loans. Set standards to ensure borrowers can repay a loan based on the most expensive interest rate option included in the loan. Changes to these lending practices, which have been cited as helping to fuel the housing market meltdown, would go into effect if the financial reform legislation passes. … (1 comments)
Will mortgages cost more in the future for Arlington home buyers?
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