The summertime swoon in U.S. mortgage rates continues this week, with averages for home loans falling to yet another record low. Click to enlarge Rates began to inch downwards in June, falling 0.37 of a percentage point in 11 weeks in which the 30-year average either set or met…
Let’s say you do business with 5 or 6 lenders. You (or your compliance department) get email updates. Maybe you get them one at a time. Maybe you get 10 changes at one time. An easy way to keep track of all lenders, all at one time is by subscribing…
Banks with enormous caseloads. Unanswered calls. Repeated requests for documents. It’s no wonder that so many homeowners have given up on trying to get loan modifications. In a piece for HuffingtonPost.com , Attorney Richard Gaudreau offers some tips on how to get a better result. You may have additional ones.…
Meanwhile, though, the bigger factor that worries economists is the employment situation. In the long term, the only way that the economy can sustain growth, is by adding jobs. Every week, we get a peek at one aspect of this situation, the weekly unemployment claims report. Last week, the report…
Randy Johnson, president of Independence Mortgage Co. in Newport Beach, author of “How to Save Thousands of Dollars on Your Home Mortgage” and a mortgage broker since 1983, answers questions… Q. I am in my early 20s and have been at my current job for 3 years now. I…
The lowest mortgage rates in nearly 40 years could give the economy the boost it needs to get back on track for solid growth in the next year, Wells Fargo Bank’s chief financial officer said today. Howard Atkins Many experts think the dramatic drop in 30-year fixed-rate mortgages to…
Interest rates for a home loan fell again this past week, the 10th straight week that mortgage rates were at or below record levels, according to the latest Freddie Mac survey. This weeks average rates were: Click to enlarge Thirty-year fixed-rate loans: 4.36% with 0.7 of a point paid…
This summer’s bout of falling mortgage rates has sparked yet another frenzy of homeowners looking to refinance their loans. Now could be a good time to do it, too, with interest rates at their lowest in decades — lower than in 2001, lower than in 2003 and even lower…
Several mortgage companies have offered to loosen up on late payments and credit bureau reporting for veterans affected by the Gulf Oil spill. The Veterans Administration this week urged everyone else to climb aboard. VA Secretary Eric K. Shinseki issued a statement Monday asking all mortgage companies to provide veterans…
While the distressed share of the Orange County housing market continues to grow at a quick pace, it’s unlikely that all the properties will come on the market at the same time, says Steve Thomas of Altera Real Estate in his latest bi-weekly report of the local real estate market. He says: “This…