mortgage: Mortgage Applications Up, Rates Down
- 05/20/15 05:00 AM
According to the Mortgage Bankers Association (MBA)'s report on mortgage application activity, mortgage applications increased by 4.6 percent week-over-week during the week ending March 27. This increase followed close on the heels of a 9.5 percent week-over-week rise the week before, indicating that spring is getting off to a strong start with respect to mortgage activity. Those who participated in last week's application surge were in luck, as average mortgage rates were slightly lower last week than the week before. The average interest rate on a 30-year fixed-rate mortgage dropped to 3.89 percent from 3.90 percent, and the average rate for a … (2 comments)
mortgage: Four Ways to Save for a Down Payment
- 05/03/15 11:26 PM
For the past month, the real estate market has been in one of its best conditions in recent memory for first-time home buyers, with low mortgage rates becoming the norm and the FHA announcing that it will lower its annual premiums to bring more buyers into the market. If you're one of those buyers who is thinking about taking the plunge and moving from renting to home ownership, you're probably the most concerned about one number: the down payment. An FHA loan can give you one of the lowest down payments on the market, but you'll still need to save a … (1 comments)
mortgage: Borrowing Costs and Fixed-Rate Mortgages Decrease
- 12/18/14 11:00 AM
In the ever evolving housing market, it can be hard for buyers and sellers to know just when the right time to invest in a property is. While the chance of the market being predictable is a long shot, the near future for buyers looks promising When it comes to purchasing a home, it is not only a big emotional decision, but it is also a giant financial endeavor. For home buyers who don’t have cash to put down on a home, the need to borrow and save can seem astronomical. In recent years, it has been increasingly difficult as wages … (0 comments)
mortgage: First Time Homebuyers Still Struggle in this Market
- 11/11/14 02:06 AM
For first time buyers, the struggle to afford even the cheapest of housing in the U.S. has been all too real. Between low wages, competition from veteran homeowners and investors and increasing student debt, most young professionals simply cannot fathom financing that type of investment. Now, the prospect is exceedingly difficult as sellers are expecting more cash upfront even on moderately priced properties. According to Bloomberg BusinessWeek, the necessity for a bigger down payment is the result of tight credit limitations that are making it difficult for rookie homebuyers, even with interest rates at historical lows and home prices also low … (0 comments)
According to the Mortgage Bankers Association (MBA)'s report on mortgage application activity, mortgage applications increased by 4.6 percent week-over-week during the week ending March 27. This increase followed close on the heels of a 9.5 percent week-over-week rise the week before, indicating that spring is getting off to a strong start with respect to mortgage activity.
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