mortgage rates

Pareto Principle In Action : 80 Percent Of The Country’s Foreclosures Occur In 20 Percent Of The States

June 11, 2009

The Pareto Principle is a statistical concept most commonly known as the 80/20 Rule. It says 80 percent of the effects come from 20 of the causes

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Want To Know Why Mortgage Rates Are Up Over 1.125 Percent In 10 Days?

June 9, 2009

Since Memorial Day, conforming mortgage rates have jumped by more than 1.125 percent, adding thousands of dollars to the annual cost of homeownership. To the casual observer, the moves may seem random. There’s a reason this is happening, however

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What’s Ahead For Mortgage Rates This Week : June 8, 2009

June 8, 2009

The economy posted stronger-than-expected data last week, reigniting fears of inflation on Wall Street. The positive-slanted economic news caused conforming mortgage rates to rise by another 1/2 percent last week. It marked the second week in a row of soaring mortgage rates and the fifth week out of six that rates have moved higher.

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VIDEO : How Do I Prioritize Paying Monthly Bills Versus Saving For Retirement?

June 7, 2009

Suze Orman recently appeared on The Today Show and gave 5 minutes of practical money management advice. Not everyone’s a fan of Ms. Orman, but this is an interview worth watching

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Mortgage Rates Rose By More Than 1/2 Percent Wednesday

May 28, 2009

Conforming mortgage rates rose by 0.625 percent Wednesday.

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Over 24 Hours, Mortgage Rates Shoot Higher

May 22, 2009

Rates go up, rates go down. Catch them while you can

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Mortgage Lending Starts To Show Signs Of A Thaw

May 18, 2009

Getting approved for a home loan isn’t getting easier, but it doesn’t appear to be getting much more difficult, either. In its quarterly survey to member banks , the Federal Reserve asked senior bank loan officers whether “prime” residential mortgage guidelines had tightened in the last 3 months.

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What’s Ahead For Mortgage Rates This Week : May 18, 2009

May 18, 2009

After a dreadful start to the month of May, mortgage markets improved last week, pushing mortgage rates lower overall. It was the first week since late-April in which mortgage rates fell. The biggest reason rates improved last week was because the economic optimism that was responsible for the stock market’s 30% gain since March faded somewhat

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For The Second Month In A Row, Foreclosures Are Concentrated In 3 States

May 13, 2009

For the second month in a row, the country’s foreclosure activity was dominated by a small number of states. As shown by the latest stats from RealtyTrac.com , more than half of the country’s foreclosure actions from April were concentrated in just 3 states: California Florida Nevada Those 3 states are home to but 19 percent of the U.S. population

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With Mortgage Rates, You Can’t Shop For Good Luck

May 12, 2009

After a series of increases starting April 30, mortgage rates finally took a dip Monday. It was a welcome surprise for home buyers that went under contract over the weekend. Same for homeowners looking to pull the refinance trigger.

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Mortgage Rates Higher On April’s 539,000 Jobs Lost

May 8, 2009

The economy shed 539,000 jobs in April , raising the 6-month total to nearly 4 million jobs lost. And while the April data may look bad, it’s actually 10% better than what was expected.

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Your Local Gas Station May Have Clues About Tomorrow’s Mortgage Rates

May 7, 2009

The retail price of gasoline is rising nationwide, now up 30 percent since the New Year . It’s a similar run-up to what we’ve seen for retail gas prices in each of the last 5 Spring Seasons.

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The Minimum Preparatory Steps When Co-Purchasing A Home With A Friend Or Family Member

May 6, 2009

Both mortgage guidelines and the economy have tightened since 2006, bringing more attention to “joint homeowners” — non-spousal partners that buy and share a home as roommates. The practice is not new, but, anecdotally, co-purchasing is becoming more common

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Pending Home Sales Rise In March — Another Sign That Housing Is Recovering

May 5, 2009

For the second consecutive month, the number of homes under contract to sell increased — further evidence that housing markets may have already bottomed.

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The Decline In Home Values Slowed In February, Says Case-Shiller. Probably in March and April, Too.

May 4, 2009

The Case-Shiller Index is a popular reporting tool for the nation’s home prices. Each month, researchers measure home values in 20 large cities, compile their findings, and then publish them to the public.

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Finding Yourself In A Multiple-Offer Situation? You’re Not Alone.

April 27, 2009

The days of rock-bottom housing prices may be reaching an end. According to the National Association of REALTORS, the number of Existing Home Sales fell by a modest 140,000 units last month. It’s the fifth straight month in which home sales straddled the 4.5 million mark.

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How Improving Home Values May Lead To Easier Mortgage Approvals

April 23, 2009

If falling home values is what prompted Fannie Mae and Freddie Mac to tighten mortgage guidelines in 2007 and 2008, America’s mortgage applicants may get their long-awaiting loosening within the next 18 months. According to a government report, the values of homes financed with conforming mortgages rose for the third straight month in February. This is an important piece of data because as values rise on the homes against which conforming mortgages are made, Fannie Mae and Freddie Mac’s respective loan portfolios get less risky.

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Understanding the Federal Reserve

April 21, 2009

The Federal Reserve meets next week for a policy-setting meeting. It’s one of 8 scheduled Fed meetings this year in which the Federal Open Market Committee votes on whether to raise, lower, or leave unchanged the Fed Funds Rate. Based on data compiled by the Federal Reserve Bank of Cleveland , Wall Street’s expectations of the Fed Funds Rate post-meeting are as follows: 97 percent probability that the Fed Funds Rate holds at 0.000 to 0.250% 3 percent probability that the Fed Funds Rate is raised to 0.750%.

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A Few Reasons Why Now May Be The Least Expensive And Easiest Time To “Go FHA”

April 18, 2009

Shopping for low mortgage rates is a game of luck.

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The 3 States That Accounted For 50% Of The March 2009 Foreclosures

April 17, 2009

Since 2007, foreclosures have dominated real estate news. You can’t turn on the news or open a paper without some foreclosure-related story. But for all of the discussion, foreclosures continue to be geographically concentrated.

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