No, I do not mean liberal as in political affiliation, but rather in the “Hey heres a bunch of Government money, go enjoy yourself” way!
Tag: mortgage
Housing Price Declines
Has the effort to improve loan modification programs decreased the chances of housing price decline? Experts have stated that not only does loan modification efforts slow price decreases it might also take a longer time for the housing market to reach bottom limits. At the end of 2009 we saw a 5% decline instead of […]
Rates for the Week of April 15, 2010
Rates had decreased this week compare to last week. Last week a 30-year fixed loan was 5.21%, this week it has dropped to 5.07%. Rates for a 15-year fixed loan last week were 4.52% last week, this week it is 4.40%. Economists state that low inflation keeps the interest rates from increasing.
Increase In Mortgage Rates
The first week the Federal Reserve was no longer buying mortgage-backed securities interest rates increase to 5.32% from 5.08% for a 30-year fixed mortgage. They had purchased $1.25 trillion debt and this has kept mortgage rates below 5%. The increase is said to be due to signs of the economy slowly recovering rather than the […]
Mortgage Rates Over 5%
Freddie Mac has reported mortgage rates of 5.08% for this week. Last week the rate was 4.99%, still below the 5% mark it has been for a few months now. The rate increase might be due to the economy gradually stabilizing as well as the federal government’s decision to no longer fund the mortgage market. […]
Short Sale
Home Affordable Foreclosure Alternatives Act (HAFA) will hopefully change the dire process of short sales.
More Pressure on Four Major U.S. Banks
Chief executives of Bank of America Corp., Citigroup Inc., J.P. Morgan Chase & Co. and Wells Fargo & Co. received a letter from Rep. Barney Frank, chairman of the House Financial Services Committee. This letter was requesting more action from these lenders be done to assist homeowners in who owed way more on their mortgages […]
Update: Existing Home Sales
• Sales fall 7.2% last month for existing home sales, still considered higher than a year ago o January: 5.05 million units sold (4.53 million units, January, 2009) o December: 5.44 million units sold • 11.2% decrease in newly built home sales • Deals that closed in January were contracts that were signed in November […]
Interest Rates, Housing Market and The Economy
We have been on a crazy ride with the housing market, fluctuating interest rates and the economy. S&P/ Case-Shiller • Home price index has dropped 2.5% compared with last year’s index • End of 2008, home prices had fallen 18.2%, compared to 2007 • Increase of 0.3% in home prices in December and November • […]
What to Look Out For When Filing Your Taxes
First-time home owners • What are points? o Fees paid to your lender when applying for a mortgage or loan. o If paid up front, can be tax deductible o Only tax deductible if the loan is for the purposes of purchasing or improving your personal property. Investment properties will not qualify.