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May 2010 Mortage Articles

Weekly Review: Mortgage Rates Stay Low While Purchase Mortgages Increase

May 28th, 2010
Plenty of news impacting mortgage rates occurred this week, extending the window during which consumers can take advantage of low interest rates. When will the words “extended period” become “near...  Read More

Refinance Mortgage Applications Soar As Mortgage Rates Drop

May 28th, 2010

The number of refinance mortgage applications soared this past week and applications for purchase transactions are at a thirteen year low. The continuance of historically low mortgage rates and the...  Read More

Mortgage Products On The Chopping Block In Washington

May 26th, 2010

While many cheer the financial reform legislation working its way through Washington due to the restraints it will put on Wall Street, lost in the reporting are the impacts on...  Read More

Mortgage Rates Fall Below 5%, Again Reach 50 Year Lows

May 25th, 2010
Average mortgage rates are below 5%, making this a rare time in history for first-time homebuyers and those seeking to refinance to lock in a low interest mortgage loan....  Read More

Fannie Mae Tightens Credit Score Requirements for Refinances & Purchases

May 24th, 2010
Effective June 19, 2010, Fannie Mae will impose higher credit score requirements and lower loan-to-value requirements on many mortgage products. Most impacted will be refinance mortgage applications. From purchase applications...  Read More

Mortgage Rates Hit Six Month Low On Economic Dip

May 21st, 2010

As uncertain economic reports and European woes continue, mortgage rates have benefitted: mortgage rates are at levels not seen since November 2009. Economic data shows a hiccup in economic recovery,...  Read More

Applying For A Mortgage? You May Need To Freeze Your Credit Activity Until Your Loan Closes To Avoid Disqualification

May 19th, 2010

Under new guidelines set to take effect June 1, 2010, buying new appliances to be delivered to your new home the day after closing or going car shopping before your...  Read More

Refinance or Purchase After Short-Sale? Yes You Can

May 18th, 2010

Fannie Mae recently joined the FHA (Federal Housing Administration) in issuing underwriting guidelines for prospective homebuyers with prior short-sales. You may bow be eligible for a “short-refinance” or new purchase...  Read More