Archive for the 'Mortgage Rate News' Category

Why Home Loan Rates Will Not Stay Low Forever

Wednesday, May 4th, 2011

Americans have been blessed with record low mortgage rates for almost five years now.  With food and energy costs rising, it will be difficult for the Federal Reserve to keep the rates low. It may be as good a reason as any to believe that current mortgage interest rates can’t remain below 5% for much longer. There [...]

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Home Equity Loan Application Levels Decline

Saturday, July 17th, 2010

Typically in summer home equity loan application levels rise as homeowners like to get access to cash for financing home improvements and vacations.   In 2010 circumstances for these once popular second mortgage programs have changed.  Home equity loan guidelines have tightened so borrowers need more equity and higher credit scores to qualify.  According to Sean Dawson a [...]

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Home Refinancing Demand Drops

Thursday, June 10th, 2010

The mortgage industry was starting to enjoy the rising demand of loan applications as mortgage refinancing activity had seen a nice streak for rising refinance applications. The Mortgage Bankers Association yesterday released its Weekly mortgage application survey for the week ending June 4, 2010. The MBA application survey covers over 50% of all US residential [...]

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Home Equity Interest Rates Up and Down

Thursday, May 20th, 2010

It was another volatile day for the stock market so mortgage and home equity interest rates were all over the map. The interest rates went up and down like a roller coaster for most of the day. The market madness caused most home equity lenders to reprice for the worse, but later in the day, it allowed [...]

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Federal Reserve Issues Rule Changes for Home Equity Lines of Credit Closed-End Mortgages

Tuesday, July 21st, 2009

Last week, the Federal Reserve announced they would issuing a new proposal this week under its Truth in Lending Authority that would provide for re-designed disclosures and rule changes for closed-end first and second mortgages and home equity lines of credit (HELOCs), Fed Governor Elizabeth Duke wrote in prepared comments for her testimony scheduled this [...]

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Home Loan Refinancing Relief Increasing from Government Pressure

Thursday, July 2nd, 2009

The Obama administration has projected that 4 million to 5 million borrowers with home loans they can’t afford would be helped. A Treasury official Tuesday said that the figure applied to those who would be eligible, not necessarily those who would participate.  Administration officials do not have an updated figure of how many people would [...]

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Low Mortgage Rates Drop More as Home Buying Becomes More Appealing

Thursday, March 19th, 2009

Certain lending banks are advertising 5.5% fixed, 30-year FHA mortgage rates, Quinn says, but obtaining one may be a little like trying to secure an invitation to dine with the Queen of England. Requirements: a mortgage of $417,000 or less; 20% down; a FICO score of at least 730-750 out of 850; a low debt/income [...]

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