6 Ways To Shop For A Refinance
Reposted from thestreet.com | BY HSH.com While the essential elements of shopping for a mortgage are the same for a purchase or refinance, the refinancing process usually starts with a decision to either improve your cash flow or change your debt profile, says Russ Anderson, a centralized sales executive with Bank of America in Los [...]
Mortgage Rates: The Last Breath Of The 2009-2013 Refinance Boom?
By Dan Green | Reposted from themortgagereports.com Despite day-to-day volatility, the broader mortgage market has been in a 3-week standstill, as 30-year fixed-rate mortgage rates went unchanged again this week according to data from Freddie Mac. The average 30-year fixed rate mortgage remained at 3.53%; the average 15-year fixed held at 2.77%. The mortgage refinance [...]
Ten Tips About Mortgages and Refinancing in 2013
Reposted from Bankrate.com / by Polyana da Costa /Published January 03, 2013 If you’ve been sitting on the sidelines, waiting for the best time to refinance or get a mortgage to buy a home, think of 2013 as your last chance to act.With good credit, persistence and some shopping skills, you can still snag phenomenal deals [...]
Mortgage Rates Start The Week By Falling, May Drop More
By Dan Green (NMLS #227607) for themortgagereports.com Mortgage-backed securities (MBS) improved last week amid stronger-than-expected economic data, including the U.S. jobs report for October. Normally, an improving jobs economy would lead mortgage rates higher but the unexpected effects of Hurricane Sandy, which forced the exchanges closed for 36 hours and which has caused an estimated [...]
Run the Refinancing Numbers, Then Run Them Again
Reposted from the New York Times by Tara Siegel Bernard With mortgage rates at tantalizing lows, homeowners are trying to refinance their loans in droves. Should you join the crowd? If you have top-notch credit, substantial home equity and expect to stay in your home for several years, refinancing may make financial sense. You probably [...]
Refinancing Spikes as Mortgage Rates Fall
By ANN CARRNS. Reposted from the New York Times Bucks Blog. Is it time to think about refinancing — or perhaps, re-refinancing? Mortgage refinancing jumped to a three-year high, as interest rates on home loans dropped to new lows, according to a weekly industry survey from the Mortgage Bankers Association. Mortgage applications overall increased 16.6 [...]
Why Home Refinancing Boom Is Different This Time
Reposted from CNBC.com -By CNBC’s Diana Olick U.S. home owners are refinancing their mortgages at the fastest clip since 2005, but the difference now is they are putting cash in, not taking it out. At the going rate, 25 percent of all first-lien U.S. mortgages will be refinanced this year, according to LPS Applied Analytics. [...]
THURSDAY FED MEETING – MORTGAGE RATES
Today’s FOMC adjournment has brought us some very favorable news that has rallied the markets. As many had expected, Mr. Bernanke and friends have announced another Quantitative Easing (QE3) campaign to help keep long-term interest rates low. What did surprise many though was the announced open-ended campaign. In previous QE programs, a fixed amount of [...]
How to Raise your FICO credit score
The credit scores of millions more Americans are sinking to new lows. According to FICO, nearly 43.4 million people now have a credit score of 599 or below. And that makes them poor risks for lenders. It’s unlikely they will be able to get credit cards, auto loans or mortgages under the tighter lending standards banks now use. Here are some ways you can improve your score.
Time to Refinance? Jumbo Mortgage Rates Plunge
Nearly two years after the credit crunch virtually froze mortgage markets, high-end borrowers are seeing some relief: Rates for “jumbo” mortgages on pricier homes are at their lowest since 2003.
Just a year ago, the average rate on a 30-year jumbo mortgage—a loan of more than $729,750 not backed by government-sponsored agencies Fannie Mae or Freddie Mac—was 6.86%, according to Greg McBride, a senior financial analyst at Bankrate.com. Now it is 5.48%—a rate that rivals those available during the height of the credit bonanza.
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