Tag Archives: lending

Mortgage Applications Soar. Rates Inch Up Slightly

If mortgage applications are the indicator of the over-all health of the real estate market place then last week proved to be a huge shot in the arm. Not only are week over week applications up, but year over year comparisons showed a drastic improvement. And it wasn’t driven by those seeking to refinance their homes. The mortgage application surge came from homebuyers! Diana Olick with CNBC reports, “Mortgage applications to purchase a home drove total volume, rising 5 percent for the week, seasonally adjusted,...
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Mortgage Lending Requirements Eased

Have you been thinking about buying a home but haven’t due to restrictive mortgage loan requirements? Well, now may be the time to reconsider and take advantage of the still low interest rates. According to some of the latest reports released by several federal agencies, obtaining a mortgage may have just gotten easier for you. According to the Federal Reserve Board and their latest “Senior Loan Officer Opinion Survey on Bank Lending Practices”, it appears that banks have been easing their requirements for consumers to get...
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New Year Brings New Loan Requirements

Starting January 1, 2014, there will be a multitude of changes in mortgage lending practices as a result of the implementation of the, “Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010”. In short, some 16 new and heavy regulations on banks and lending institutions will go into full effect. Here are some of the ways the Act will affect you…

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Homebuyers Mystified by Mortgages

Homebuyers. Francis Bacon said, “Knowledge is power.” But a recent survey just released about home buyer’s knowledge about mortgages and mortgage lending reveals that a lot of us have something to learn and it’s costing us money. “Time is money” said Benjamin Franklin. If you are having any thoughts of buying or refinancing a home now is the time to learn about financing….

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Mortgage Rates Spike Then Slide

Mortgage rates climbed at the fastest pace in two months last Friday, May 3 as a result of the just released “Employment Situation Report” for April. This report which is a product of the US Bureau of Labor showed that unemployment decreased by 673,000 since the beginning of the year. Good news in the job market tends to cause lending rates to increase….

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