Variable rates are subject to (condos for sale in dayton) quarterly ….
Variable rates are subject to quarterly adjustment though some plans offer a fixed interest rate.
Huge Changes May be Coming for Lenders and
Bloomberg News reported on Wednesday that Fannie Mae
is proposing to ban the use of appraisals by a lender’s
employees or those arranged by mortgage brokers.
The proposed change would mean that Fannie Mae would no longer
authorize its lending partners to use appraisers employed by a
wholly owned subsidiary and, while we have not seen the memo, apparently
it contains reference to the eventual establishment of an appraisal
clearinghouse which we assume would assign appraisers to a project…
Mortgage Rates Back Up to January Levels
Mortgage rates continued to grow in the most recent
week, now approaching very close to the level of
rates at the beginning of the year.
Mortgage application volume decreased…
Are Programs Beginning to Slow Rate of Foreclosure Growth?
Despite the many programs gearing up or in place to help homeowners
resolve problems with their mortgages, foreclosure related
activities continued to increase in January. But, perhaps
partially because of these programs, the rate of increase appears to be
slowing from the pace of previous months.
GSE Portfolio Caps to be Lifted March 1
The Office of Federal Housing Enterprise Oversight
(OFHEO) announced Wednesday that it would be
lifting the caps it had imposed several years ago to
limit growth of Freddie Mac’s and Fannie Mae’s owned portfolios.
Each of the GSE’s has also been under a consent order which required
them to, among other things, maintain a 30 percent capital
cushion. These will stay in place for…
Fixed-Rate Mortgages Were Pricier Last Week
The interest rates on fixed rate mortgages (FRM) were
up during the week ended February 14 according to the results of Freddie
Mac’s Primary Mortgage Market Survey.
Freddie Mac vice president and chief economist commented on the
rates; “This week was relatively light on the number of economic data
releases, which painted a…
Case Shiller, OFHEO Reports Add to the General Housing Gloom
Two reports on house prices were released on Tuesday
and neither was happy news for homeowners or for the real estate
industry.
The S&P/Case Shiller U.S. National Home Price Index
showed that the decline in house prices accelerated in the fourth quarter
of 2007 with a…
Existing Home Sales and Prices Fall in January
Existing-home sales including single family
residences, condominiums, townhomes, and co-ops continued to move
downward in January, as did their median prices according to the monthly
survey released on Monday by the National Association of Realtors.
Lawrence Yun, NAR chief economist, said many
potential buyers remain on the sidelines. “Subprime loans and other risky
mortgage products have virtually disappeared from the marketplace,
and…”
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