While mortgage rates stayed low last week, fewer homeowners applied for a home refinance. One possible reason may be that home prices remain flat or have dropped in 19 of 20 cities, according to the S&P/Case-Shiller Home Price Index. The Refinance Index, which reports how many homeowners apply for a mortgage refinance each week, dropped [...]
The Mortgage Bankers Association (MBA) reported that applications for a mortgage refinance rose by 26.4 percent during the week ending January 13, 2012 compared to the previous week. The MBA’s Refinance Index reached the highest level since August 8, 2011 and the refinance share of mortgage applications rose to 82.2 percent. “Interest rates dropped last [...]
Low mortgage rates offer several options for homeowners with enough equity to refinance. While the most popular option for homeowners is to reduce their monthly mortgage payment with a home refinance, some borrowers choose instead to shorten their loan term to pay off their entire loan more quickly. According to Freddie Mac, 95 percent of [...]
Refinancing your home to a better interest rate may save you lots of money over time, but many homeowners struggle with how to pay the upfront fees. One solution is a no-cost refinance–a term that refers to a number of ways the closing costs can be bundled into your refinance loan. While no-cost refinancing options [...]
Refinancing a second home with Fannie or Freddie Mac doesn’t cost any more than refinancing a comparable primary home. There are no risk-based pricing adjustments for second homes. While financing an investment property at 80% of its value can add 3.75 points to your fees, that’s not the case with a second home that meets [...]
Comparing mortgage interest rates doesn’t have to make your hair stand on end (or fall out!). Starting January 1, 2010, it should be much easier to understand the terms of loans presented to you and make comparisons between mortgage products. Regulation X Means No Baiting, No Switching Changes to Regulation X mean what you see [...]
Mortgage brokers work with wholesale mortgage lenders. Wholesale mortgage lenders’ only function is to underwrite and fund home loans. What they don’t do is maintain offices, pay sales staff, originate mortgages, or process loans. Brokers fill that function for them. Mortgage Brokers’ Strengths Mortgage brokers can be especially helpful when you have a tricky loan, [...]
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Those in the housing industry believe they're starting to see it come back. While home prices may not have hit bottom, they all believe it's a great time to buy. Read More>>
5 good reasons to refinance your home with an FHA mortgage Should you consider cash-out refinancing?
While mortgage rates stayed low last week, fewer homeowners applied for a home refinance. One possible reason may be that home prices remain flat or have dropped in 19 of 20 cities, according to the S Read More>>
Refinancing activity slows as rates tick up Surge in home refinance applications
