The madness continues. Bank of America (BoA) is considering a special program for unemployed borrowers that would offer as many as nine months of no mortgage payments while they hunt for a new job. A spokesperson for BoA says that the program is still pending regulatory approval. Whether or not the payments are forgiven or… Read More
Mortgage Applications Decrease
January 27, 2010 By Leave a Comment
U.S. mortgage applications fell for the first time in four weeks, reflecting a dramatic drop in demand for home refinancing loans, data from an industry group showed today. The Mortgage Bankers Association’s (MBA) Market Composite Index for the week ending January 22, 2010 decreased 10.9 percent on a seasonally adjusted basis from one week earlier… Read More
National Thirty-Year Fixed Mortgage Rate Rises for Fourth Consecutive Week Following Two Months of Rate Declines (PR Newswire via Yahoo! Finance)
January 5, 2010 By Leave a Comment
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased twelve basis points last week to 5.05 percent, up from 4.93 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®.
National Thirty-Year Fixed Mortgage Rate Surges to Near 5.0%; Loan Request Mix Heavily Favors Purchase Loans (PR Newswire via Yahoo! Finance)
December 29, 2009 By Leave a Comment
The weekly average rate borrowers were quoted on Zillow Mortgage Marketplace for 30-year fixed mortgages increased sixteen basis points last week to 4.93 percent, up from 4.77 percent the week prior, according to the Zillow Mortgage Rate Monitor, compiled by leading real estate Web site Zillow.com®.
Mortgage Rescue Can Kill Your Credit Rating
December 28, 2009 By 1 Comment
Mortgage rescue can kill your credit rating Most troubled homeowners don’t realize that President Obama’s entering a trial mortgage modification can actually hurt their credit. It’s true that many people who apply for the president’s plan are already delinquent in their mortgage payments, but being in a months-long trial period may only add to the… Read More
