Tag Archives: rates

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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Affects of Government Shutdown on Local Real Estate

Government Shutdown. 70 percent of all loans made this year in the Crystal Coast and surrounding areas involved either Fannie Mae, Freddie Mac, VA or a FHA Loan. To put it another way, the federal government has its hands in almost ¾’s of all mortgage loans made in 2013. So will the government shutdown affect your ability to get a loan? Will it slow or stall your upcoming closing? Will interest rates go up? The good news is that mortgage rates tend to go the opposite...
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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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