Articles by Subject

Why Are Mortgage Rates Still So Low?

By:
Kirk Haverkamp - MortgageLoan.com | May 29, 2010

Why are mortgage interest rates still so low? According to conventional wisdom, interest rates were supposed to begin creeping up in April, right after the Fed quit buying mortgage-backed securities. Instead, they’ve lower than ever. 

Incomes Up, But Spending Flat

By:
Kirk Haverkamp - MortgageLoan.com | May 28, 2010

Consumers held the line on spending in April, putting more into savings even as incomes rose.

Mortgage Rates At or Near Record Lows - Again

By:
Kara Johnson - MortgageLoan.com | May 27, 2010

Mortgage rates fell again this past week, hitting record or near-record lows, according to the weekly Freddie Mac survey. 

So You're Ready to Use a Professional Mover?

By:
Kara Johnson - MortgageLoan.com | May 27, 2010

Ok, so you’ve done all the work of finding a house, arranging for a mortgage and closing the sale. Now all you have to do is move in. So how do you go about finding a good moving company? 

New Homes Sales at Two-Year High

By:
Peter King - MortgageLoan.com | May 26, 2010

New home sales surged in April to their highest rate in two years, as purchasers took advantage of expiring tax credits for new and repeat homebuyers. 

Home Prices Decline Despite Tax Credit

By:
Kirk Haverkamp - MortgageLoan.com | May 25, 2010

Home prices fell in the first quarter of the year, despite tax incentives and continued low interest rates, suggesting renewed weakness in the housing market, according to figures released today by Standard & Poor’s/Case-Shiller.

Conventional Thinking About Strategic Defaults May be Wrong

By:
Kara Johnson - MortgageLoan.com | May 25, 2010

Why do homeowners choose to deliberately default on a mortgage? The common wisdom is that it’s a purely calculated choice, made by carefully weighing the financial pros and cons. But much of that common wisdom is wrong, according to the person who put the spotlight on so-called “strategic defaults” in the first place. 

Home Sales Post Third Consecutive Gain

By:
Peter King - MortgageLoan.com | May 24, 2010

Existing home sales rose for the third consecutive month in April, as buyers took advantage of a soon-to-expire tax credit, according to a report out this morning by the National Association of Realtors (NAR). 

HAMP Rejections Soar; New Modifications Dwindle

By:
Kirk Haverkamp - MortgageLoan.com | May 21, 2010

New borrowers admitted to the government’s Home Affordable Modification Program (HAMP) fell in April to their lowest level since the program began, while the number of homeowners rejected for permanent assistance continued to climb. 

Delinquencies Rise, Foreclosure Rate Sets Record

By:
Kirk Haverkamp - MortgageLoan.com | May 20, 2010

More than one borrower in 10 is behind on their mortgage payments, according to a new report, as mortgage delinquencies continue to rise despite signs of an economic recovery. 

Do You Need an Inspection On a Newly Built Home?

By:
Kara Johnson - MortgageLoan.com | May 19, 2010

One of the mistakes that many people make when buying a newly built home is to skip the home inspection. After all, they reason, it’s a brand new house – everything should be perfect. And the city or other local government will inspect it anyway in order to issue a certificate of occupancy. 

Mortgage Rates Fall, But So Do Home Purchase Applications

By:
Peter King - MortgageLoan.com | May 19, 2010

Mortgage applications for home purchases fell to their lowest level in 13 years last week, as home buying activity dried up following the end of a popular tax credit.

Low Rates Make ARMs an Attractive Option Again

By:
Peter King - MortgageLoan.com | May 19, 2010

There’s a lot of talk going around about how borrowers should once again consider adjustable rate mortgages (ARMs). And no wonder –interest rates on ARMs are astonishingly low right now, with many lenders offering initial rates well below 4 percent. 

Senate Approves Rule Authorizing Free Credit Scores

By:
Peter King - MortgageLoan.com | May 18, 2010

An amendment adopted by the U.S. Senate on Monday would give consumers free access to their credit scores – but only in limited situations.

Mortgage Rate Increases Likely to Be Modest: Fannie Mae

By:
Kara Johnson - MortgageLoan.com | May 17, 2010

Fixed rate mortgages will rise this year, but not enough to choke off home buying activity by consumers, according to a new forecast out today by Fannie Mae.
 
The average rate on 30-year fixed rate mortgages should rise by about half a percent, the lender predicts, to around 5.5 percent, by year’s end.

How Much Time Should You Spend Mortgage Shopping?

By:
Kirk Haverkamp - MortgageLoan.com | May 15, 2010

How much time should you spend shopping for a mortgage? How much effort do you need to put in to be sure of getting the best deal?
 
A recent report by the mortgage data company Zillow made minor waves when it found that one-third of borrowers spent only two hours or less researching their mortgage. That’s the same amount of time the average consumer spends shopping for a TV.
 
On average, borrowers spent five hours researching mortgages.

30-Year Rates Fall Back Below 5 Percent

By:
Kirk Haverkamp - MortgageLoan.com | May 14, 2010

Mortgage rates dropped to their lowest levels of 2010 this week, with 5-year adjustable rate mortgages hitting an all-time low, according to the Freddie Mac weekly rate survey. 

Avoiding Foreclosure Through a Reverse Mortgage

By:
Kirk Haverkamp - MortgageLoan.com | May 13, 2010

With foreclosures continuing to rise, a lot of financially stressed homeowners are looking to loan modifications and similar measures to save their homes. But there’s one fairly effective strategy that hasn’t been getting a lot of attention – a reverse mortgage.
 
Of course, a reverse mortgage can’t help everyone – they’re pretty much limited to homeowners age 62 and above (although there are exceptions).

Foreclosures Post First Annual Decline in Three Years

By:
Kirk Haverkamp - MortgageLoan.com | May 13, 2010

Foreclosures posted their first annual decline in at least three years in April, providing a hopeful sign that the nation’s housing crisis is bottoming out.
 
A total of 333,387 homes were subjected to foreclosure filings during the month, according to figures released today by the foreclosure marketing firm RealtyTrac, representing a 2 percent decline from one year ago.

Most Cities Show Annual Gains in Home Values

By:
Kirk Haverkamp - MortgageLoan.com | May 12, 2010

A majority of U.S. cities are seeing gains in housing prices, even home values nationwide have remained flat, according to new figures from the National Association of Realtors (NAR).
 
Single-family home values in three out of five U.S. metropolitan areas surveyed were higher in the first quarter of 2010 than they were one year before, according to the NAR, with one in five posting double-digit increases.

Understanding and Shopping for Title Insurance

By:
Peter King - MortgageLoan.com | May 12, 2010

If you buy or refinance a home, you’re going to need title insurance. And if you’re going to get title insurance, you ought to understand what you’re getting. 

Signs of Improvement in Commercial Real Estate

By:
Kara Johnson - MortgageLoan.com | May 11, 2010

Senior real estate executives are beginning to see signs of improvement in the commercial real estate market, according to a new survey by a leading industry group.

Nearly One-Fourth of Mortgages Now Underwater

By:
Kara Johnson - MortgageLoan.com | May 10, 2010

Nearly one-quarter of all U.S. mortgages are now underwater, according to figures released today by real estate data company Zillow. 

Frozen Jumbo Loan Market Beginning to Thaw

By:
Kara Johnson - MortgageLoan.com | May 08, 2010

Spring is in the air – for the jumbo mortgage market. With last week’s announcement of the first securities sale backed by jumbo loans in two years, there are encouraging signs that high-value loans are becoming easier to obtain.

Home Prices Down 5 Percent in Most Recent Quarter

By:
Peter King - MortgageLoan.com | May 07, 2010

U.S. home prices fell 5 percent in the last quarter reported, as foreclosures posted a slight increase in their share of the home sales market, according to new figures from real estate data company Clear Capital.

Arranging for Your Own Home Value Appraisal

By:
Kara Johnson - MortgageLoan.com | May 07, 2010

An appraisal isn’t something most homeowners worry about. When you buy a home, the lender typically arranges for an appraisal and the buyer pays for it, but otherwise, it’s not something that most homeowner pay a lot of attention to.

Mortgage Rates at Six-Week Low

By:
Kara Johnson - MortgageLoan.com | May 06, 2010

Mortgage rates fell again this past week, with 30-year fixed rate loans averaging an even 5.0 percent, according to the newest Freddie Mac weekly rate survey.

Mortgage Applications Rise as Tax Credit Ends

By:
Peter King - MortgageLoan.com | May 05, 2010

Applications for home mortgage rose in the final week of April, as borrowers sought to take advantage of the expiring home purchase tax credits for new and repeat home buyers. 

Pending Home Sales Up Again

By:
Kara Johnson - MortgageLoan.com | May 04, 2010

Pending home sales rose in March, as the spring homebuying season got underway and buyers sought to take advantage of a soon-to-expire tax credit. 

Mortgage Credit Certificate Offers Tax Savings for First-Time Homebuyers

By:
Kara Johnson - MortgageLoan.com | May 04, 2010

If you’re a first-time homebuyer, there’s a good chance you’ve never heard of the Mortgage Credit Certificate Program. Many aspiring homeowners have not. And that’s too bad, because it can save you some serious money – not just right now, but in the years to come as well. 

Consumer Spending, Incomes Rise

By:
Kirk Haverkamp - MortgageLoan.com | May 03, 2010

Consumer spending and personal incomes both rose in March for the sixth consecutive month, raising hopes of a sustained, though weak, economic recovery.