MBA Reports Rising Interest Rates
The latest survey from the Mortgage Bankers Association shows that mortgage rates are increasing as refinancing activity is continuing to drop.
Did you take advantage of the low mortgage rates before the started to rise? Did you refinance and lock in a low rate or did you miss your chance?
See the…
More Mortgage Applications Processed As Rates Rise Slightly
Mortgage interest rates rose slightly last week for 30-year fixed rate mortgages and one year adjustable rate mortgages, announced the Mortgage Bankers Association today. But they're still relatively low.
Yesterday I blogged how falling home values makes buying a home more affordable for first time…
Today on the Ilyce Glink Show - May 24, 2009
Today on the Ilyce Glink show, we had a call about the Roth IRA conversion change for 2010. I've been writing about this for awhile, and basically the change boils down to the following:
If you make too much money (over $100,000/year) to convert your current IRA to a Roth IRA…
$8,000 Tax Credit-Downpayment Relief: Treasury Department Giveth and Taketh Away
Last week, the Treasury Dept. announced a new plan to allow first time buyers (and those who haven't owned a home in the past 3 years) the opportunity to use the $8,000 tax credit as a down payment for the purchase of the property. The way this would be handled would be with a bridge loan until the…
Fewer People Refinance Mortgage Loans, MBA Reports
For the week ending May 8, the number of mortgage applications filed fell by 8.6 percent from a week earlier, reported the Mortgage Bankers Association today.
MBA's Refinance Index dropped by 11.2 percent while the Purchase Index increased by 0.5 percent from a week earlier, on a seasonally adjusted…
Foreclosures Increase 24 Percent In First Quarter 2009
In the first quarter, the number of foreclosures increased 24 percent from a year earlier, reported RealtyTrac today. One in every 159 homes received a foreclosure notice in the first quarter. RealtyTrac includes bank repossessions, default notices and auction sale notices in the foreclosures it…
71 Percent Of Americans Say Now Is Time To Buy According To Gallup Poll
A majority of Americans, 71 percent, say now is a good time to buy a house, according to an April Gallup poll.
This is up 18 percentage points from a year ago and the highest level of housing-purchase optimism in four years.
However, sluggish home sales across the country mean that Americans aren't…
Treasury Secretary Geithner's Statement On Bank Stress Test Results
Statement from U.S. Treasury Secretary Timothy Geithner:
This afternoon, the Federal Reserve and the national banking agencies released the results of the stress tests - the most comprehensive, forward looking review of our nation's largest banks ever undertaken. These tests will help ensure that…
Mortgage Interest Rates Rise Slightly, Reports Freddie Mac
Mortgage rates rose slightly during the week ending May 7, Freddie Mac announced today.
30-year fixed rate mortgages averaged 4.84 percent with 0.7 points down. The previous week, the average rate for this loan was 4.78 percent.
Here are some other common loans:
5 Ways to Know the Real Estate Market is Improving
My mother said something interesting to me the other day. She said, "The Realtors in my office are much busier than they were two months ago. They're doing real deals."
This would be just another one of those passing comments except that my mother works for the top Baird & Warner office in downtown…
