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 [...]
All articles in category: "Mortgage News"
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6 Reasons Home Loans Fail
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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
- Cache County Real Estate Sales Start SlowlyAs I ran the monthly sales stats this morning I was shocked at just how low the monthly home sales were for Logan Real Estate during January. Over the last few months, things looked like the real estate market had really turned a corner. It looked as if the days of super low monthly home sales were behind us. Unless January was a statistical aberration, I wa […]
- Mortgage Interest Rates at NEW Record LowsIt’s hard to believe, but mortgage interest rates hit all time lows AGAIN. It makes me just want to buy again even though I just bought. Home financing is just so cheap right now. Here is the break down from the latest Freddie Mac survey: 30- Year Fixed Mortgages 3.89% 15 year Fixed Mortgages: 3.16% 5 Year ARM: 3.23 via utahrealestate4sale.com What a fantast […]
- Investing in Multi-Family HomesOne of the best ways to invest in real estate is by investing in Multi-Family Homes. These are residential properties with 1 to 4 units. Multi-family homes offer advantages over apartment buildings, and over single family homes. If you plan to own property with the goal of obtaining long term rental income, then the best way to get started is with multi-fami […]
- Cache County Real Estate Sales Start Slowly