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 [...]
Refi Clock Tick-tocks, Even as Rates Drop
By Polyana da Costa | Reposted from bankrate.com As mortgage rates climbed in the last half of January, many refinancers and potential homebuyers were reminded they are running out of time to take advantage of the low-rate environment. Rates barely moved this week, but the clock is still ticking, say industry observers. The benchmark 30-year [...]
Mortgage Rates Respond To December 2012 FOMC Statement
By Dan Green (NMLS #227607) for themortgagereports.com Mortgage rates are worsening after the Federal Reserve’s December 2012 FOMC meeting. For the third straight meeting, the nation’s central banker described the U.S. economy as improving; expanding “at a moderate pace”. The group also re-affirmed its plan to buy mortgage-backed bonds as a means to suppress mortgage rates [...]
FHA Streamline Refinance: Basic Qualification Requirements
By Dan Green (NMLS #227607) for themortgagereports.com It’s an interesting time for FHA-insured homeowners. FHA mortgage rates are making new, all-time lows while — at the same time — FHA mortgage insurance premiums (MIP) are gearing up for an increase. The combination has fueled a spike in FHA refinance applications nationwide. In September 2012, more than [...]
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 [...]
Mortgage Rates: Improve On Housing, No Quick Fix In Spain
By Dan Green (NMLS #227607) for themortgagereports.com Mortgage-backed securities (MBS) improved Friday, breaking a 4-day losing streak. The FNMA 3.0 coupon climbed -12/32 to close at 104.19. The GNMA 3.0 coupon rose +11/32 to close at 106.01. Mortgage rates of all types improved Friday. Conforming mortgage rates returned to mid-week levels, and FHA and VA [...]
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. [...]
Rates Dive : Refi Your Mortgage If You Can
By Polyana da Costa for Bankrate.com The Fed has handed mortgage borrowers a once-in-a-lifetime opportunity. Mortgage rates have plummeted to the lowest levels in modern history, opening the doors to new groups of refinancers and surprising many homebuyers. The benchmark 30-year fixed-rate mortgage fell to 3.55 percent from 3.7 percent, according to the Bankrate.com national [...]
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