Mortgage markets worsened last week on general profit-taking in the U.S. bond market, combined with talk of a coordinated rescue effort for Greece and its debt burden. Mortgage-backed bonds sold off, causing conventional and FHA mortgage rates to rise.
Consumer Sentiment has been on the rise since last February and it’s something to which home buyers should pay attention. The affordability of your next home may hinge on consumer confidence.
For as much as the foreclosure filing statistics can be astounding — over 300,000 homes were served last month alone — the prevalence of foreclosures depends on where you live.
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what’s coming next. Recently, we saw this with respect to FHA home loans.
Because of how frequently bank rules are changing, it can be hard for laypersons to distinguish between mortgage fact and fiction of what’s coming next. Recently, we saw this with respect to FHA home loans.
The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening.
Mortgage markets improved last week on domestic jobs data and international banking concerns. The news triggered buying in the bond market and, as a result, conventional, FHA and VA mortgage rates improved for the 4th consecutive week.
Credit scores not only make the difference between a mortgage approval and mortgage turn-down, but they also play a large role in determining your actual mortgage note rate. In the 3-minute piece, the NBC Today Show talks about 7 ways that homebuyers ruin their credit — often by accident.
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