Latest Mortgage News

Pending Home Sales Show Modest Increase

Kirk Haverkamp — Thu, 02 Sep 2010 15:37:59 +0000

Pending home sales rose modestly in July, two months after taking a steep plunge that put the housing market into the doldrums.

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Subdued Inflation Sends Mortgage Rates to New Lows

Kirk Haverkamp — Thu, 02 Sep 2010 14:27:43 +0000

Low inflationary pressures allowed mortgage rates to fall to new lows again this week, according to today’s weekly rate survey from Freddie Mac.

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VA Loans and Natural Disasters

Barbara Eisner Bayer — Thu, 02 Sep 2010 12:58:27 +0000

According to the Center for Research on Epidemiology of Disasters, natural disasters were up 233 percent during the period 2000 to 2009 as compared to 1980 to 1989, and up 67 percent from 1990 to 1999. Whether it’s hurricanes, earthquakes, tornadoes, floods, or lava eruptions, if you’re a homeowner with a Veteran’s Administration (VA) loan, your property is at risk if the unexpected occurs. Here’s what to do if disaster strikes.

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Private Loans Modifications Continue Briskly

Kirk Haverkamp — Wed, 01 Sep 2010 21:58:54 +0000

Roughly two-thirds of the more than 1 million homeowners who have obtained permanent mortgage loan modifications this year did so outside of the government’s Home Affordable Modification Program (HAMP), according to a new report.

Through the end of July, nearly 760,000 homeowners have obtained private mortgage loan modifications through their lenders so far this year, according to figures from the Hope Now Alliance. Another 368,000 were approved for permanent loan modifications under HAMP.

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Low Rates Fail to Spur Home Purchases

Kirk Haverkamp — Wed, 01 Sep 2010 15:13:02 +0000

Mortgage applications for home purchases declined in August, despite falling interest rates that continued to set record lows and suggesting that home sales remain weak following July’s sharp declines.

The four-week moving average for home purchase mortgage applications is down 0.2 percent, the Mortgage Bankers Association reported this morning, despite a 1.8 percent gain last week. Compared to the same week one year ago, purchase applications are down 37 percent.

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