The Utah Real Estate market really seems to be doing well, and mortgage interest rates are still at all time lows. Here’s the latest from the monthly Primary Mortgage Market Survey. 30-year fixed-rate mortgage FRM averaged 3.88 percent with an average 0.7 point for the week ending April 26, 2012, down from last week when [...]
All articles in category: "Interest Rates,Mortgage News"
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April Mortgage Updates
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6 Reasons Home Loans Fail
1. Income issues. Most failed applications falling into this category have income too low for the mortgage amount they are seeking; often, a spouse’s credit issues can create this problem, too, as the income the spouse plans to actually chip in toward the mortgage cannot be considered by a lender. But increasingly, the recent vagaries [...]
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Mortgage Interest Rates Lowest on Record
In Freddie Mac’s results of its Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 4.01 percent with an average 0.7 point for the week ending September 29, 2011, down from last week when it averaged 4.09 percent. Last year at this time, the 30-year FRM averaged 4.32 percent. 15-year FRM this week averaged 3.28 [...]
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All Time Lows for 15 Year Mortgage Rates
July Housing Numbers were pretty dismal for Real Estate in Utah, and elsewhere through-ought the nation. The good news is that because the housing outlook has gotten worse, mortgage interest rates have gone down, again. Here is an update from the Inman News: Turmoil in financial markets has investors fleeing to the relative safety of [...]
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Borrowers Can Once Again Get FHA Loans With 580 Credit Scores
For the first time in a long time, credit standards have actually loosened in regards to getting a home loan. Borrowers getting FHA home loans can once again get a mortgage with credit scores as low as 580. With no fanfare or public announcements, two of the largest FHA-approved lenders have backed off their controversial [...]
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Federal Government May Buy More Debt
Even though mortgage interest rates are at their lowest ever right now, the federal reserve might take action to make sure that they stay ridiculously low. Federal Reserve Chair Ben Bernanke hinted Monday that the Fed is likely to buy more government debt, a move that could further drive down rates on mortgages, corporate financing, [...]
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Almost 90% of Current Home Loans are Backed by Federal Government
In a way, government has subsidized housing for almost all Americans. Now after learning from the housing boom and bust, there are second thoughts about the consequences of this. Right now government backed mortgages represent almost all home loans. Even today, private capital has not yet fully returned to this market,” Jeffrey Goldstein, the Treasury [...]
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Lenders Now Have More Wiggle Room to Negotiate Rates?
I just read an article on the new your times that claims that even though mortgage interest rates are at all time lows, the margins lenders have to work with are higher than they have been in the past. A lot of the time lenders will give you one quote when you initially express interest [...]
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Twenty-Seven Million People with Mortgages Believe They Owe More than Their Homes Are Worth
These are some of the results of The Harris Poll of 2,320 adults surveyed online between March 1 and 8, 2010 by Harris Interactive. Other interesting findings include: * Over two-thirds (69%) of adults who are homeowners have a mortgage that they need to pay off. * People whose homes are believed to be worth [...]
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Mortgages Explained- Utah Real Estate Blog
- Home Prices are UP in UtahReport: Utah home prices up There's more evidence Utah's real estate market is turning around. Utah home prices were up 2.3 percent in March compared to March 2011, according to research company CoreLogic. Compared to other states, Utah had the 14th highest appreciation. The picture looked even better when distressed properties were excluded. When […]
- Logan Utah Real Estate Market Conditions: Home Sales Down in AprilApril home sales for Cache County Utah are not quite as good as they were during March. Compared with April of a year ago, home sales improved 7%. 71 homes sold during April compared with 66 in April of 2011. The number of homes for sale has also risen, but this is typical for spring. Their are currently 681 residential homes for sale in Cache County. This i […]
- The Future Is Looking Bright For Utah Real EstateYesterday, the division of real estate came and spoke to Realtors, Mortgage Lenders, and Appraisers in Cache Valley. They gave us an update of the Utah Real Estate market as well as the Utah Economy as a whole. In general, they had very many positive things to say, among them: Utah was ranked the number #1 state for business and careers. #1 for Economic Dyna […]
- Home Prices are UP in Utah