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By Holden Lewis • Bankrate.com Another week, another record low for mortgage rates. The benchmark 30-year fixed-rate mortgage fell 6 basis points to 5 percent, according to the Bankrate.com national survey of large lenders. A basis point is one-hundredth of 1 percentage point. That’s the lowest rate on the 30-year fixed in the [...] Mortgage Rates Hold Near Six Month Lows. Still Locking Loans by Victor Burek – In a volatile session, mortgage rates ended yesterday’s session unchanged as a small rally in benchmark Treasuries helped support the MBS market. Following weaker than expected economic data in the morning, rates rallied. However as profit taking took place later [...] by Adam Quinones The National Association of Realtors released Existing Home Sales data this morning. Think about the materials that go into building and maintaining a home….WOOD, STEEL, PLASTICS, WIRING, PIPING, CONCRETE, GLASS, ELECTRICITY, FURNITURE, CARPETING ,ELECTRONICS, APPLIANCES….LABOR. How about the commissions earned by Realtors and mortgage originators who help the borrowers close on their [...] So, you’ve decided to buy a house? GREAT DECISION, especially now since rates are super low and you can walk into plenty properties with some decent equity. Ok, step 1 complete. Next step, picking the right lender. I’ve written several articles on this previously, but I will summarize countless hours of explanation into ONE [...] CHICAGO (MarketWatch) — The number of mortgage applications rose 2% in the week ending May 1, the Mortgage Bankers Association said Wednesday, with borrowers seeking both more refinance and home-purchase loans. The MBA’s seasonally adjusted composite index of mortgage applications rose to 979.7 from 960.6 a week earlier. The refinance index was up 1.2% [...] On Friday, Citigroup and J.P. Morgan Chase said that they would temporarily hit the “Pause Button” on foreclosures. Out of the $350 billion that is left, $50 billion of the last year’s bailout plan is going to be used to buy some time for homeowners that are currently having trouble paying their mortgage payments. This [...] Hello and thank you for coming to my blog. As you will see I am here to give you information on specifically and ONLY all FHA mortgage products. This site is specifically dedicated to FHA (Federal Housing Administration) mortgages. Since the sub prime downfall, FHA mortgage applications have spiked and will continue to do so. [...] |
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