The National Association of REALTORS reported Wednesday that pending sales of existing homes fell by 1.30 percent in July. According to the organizationâs Pending Home Sales Index, this was the second straight month that pending home sales dropped. Julyâs Pending Home Sales Index reading was 109.50. Continue reading
Are you applying for a mortgage on your home? Keep in mind that a mortgage is a major financial decision and choosing one will have a significant impact on the rest of your life. Continue reading
The past week was active for economic news and mortgage rates. The aftermath of the Fed’s indication that it may start dialing back its multi-billion dollar monthly purchases of Treasury and mortgage backed securities has sent mortgage rates to record highs. Continue reading
Comments by Fed chairman Ben Bernanke after Wednesday’s FOMC meeting caused havoc in financial markets as investors anticipated the potential effects of any rollback of the Fed’s policy of quantitative easing (QE). Chairman Bernanke said that the Fed may begin reducing its $85 billion monthly purchase of Treasury securities and MBS toward the end of this year. Continue reading
Improving your credit score before searching around for a mortgage will ensure that you get the best rate possible. But what can you do to improve your credit score?
Here are three tips that can help you improve your credit score and your mortgage. Continue reading
Mortgage rates fell again last week and are again near record lows.
According to Freddie Mac, the average rate for a 15-year fixed rate mortgage did achieve a record low of 2.61 percent as compared to 3.1 percent one year ago.
The average rate for a 30-year fixed rate mortgage fell to 3.40 percent and near the record low of 3.31 percent. Continue reading
Last week’s economic news includes several factors that drove U.S. mortgage rates lower. Continue reading
Mortgage rates were lower last week as investors sought safety in bonds in the wake of US legislators’ failure to agree on budget cutbacks, and after Italyâs elections failed to reveal a leader committed to continuing economic reform. Continue reading
The Improving Market Index added 76 metropolitan areas in December as compared to the month prior. Continue reading
The Federal Open Market Committee (FOMC) begins a 2-day meeting today, its last of 8 scheduled meetings this year. Continue reading