Mortgage lenders were offering conventional 30-year loans at an average rate of 4.00% this week compared to 4.04% a week ago, Freddie Mac's weekly survey showed.
About 1.5 million home owners negatively impacted by the mortgage crisis could be on their way to re-entering the housing market within the next three years. Within five years, that number could swell to 2.2 million, according to a new study released by TransUnion.
Freddie Mac is now offering distressed homeowners a complete guide to foreclosure and how to avoid it, from assessing your situation to what to do when your home has been foreclosed on, as part of a new website launched this week as a one-stop resource for homeowners. The "MyHome by Freddie Mac" site offers homeowners … Continue reading Freddie Mac Offers Distressed Homeowners a Complete Guide to Foreclosures and Alternatives
Philadelphia Fed chart shows employment status in 50 states By: Brena Swanson/Housingwire.com The job situation improved in almost every state over the last three months, according to the latest state coincident indexes report from the Federal Reserve Bank of Philadelphia. The coincident indexes combine four state-level indicators to summarize current economic conditions in a single … Continue reading Job situation improves in nearly every state
Homebuyers are caught in a storm of low inventory, high demand and tight credit availability. In these market conditions, even simple tactics or connections a potential homebuyer can have could make the difference between owning a home or not. Ray Brousseau, executive vice president of Carrington Mortgage Services’ mortgage lending division, outlined 10 tips to help … Continue reading 10 tips for first-time homebuyers: How to navigate the real estate market
Average long-term U.S. mortgage rates eased this week after hitting their highest levels this year in the previous week. Mortgage giant Freddie Mac said Thursday the average rate on a 30-year fixed-rate mortgage declined to 4 percent this week from 4.04 percent a week earlier. The rate on 15-year fixed-rate mortgages slipped to 3.23 percent … Continue reading Mortgage rates dip slightly after last week’s high
While completed foreclosures on residential homes totaled 40,000 for April and have been steadily falling monthly for the last four years, they are still nearly double their pre-recession average per month, according to CoreLogic's April 2015 National Foreclosure Report released Tuesday. Completed foreclosures, which are a measure of homes actually lost to foreclosure, declined by … Continue reading Completed Foreclosures Decline But Remain At Double Pre-Recession Levels
Despite the recent announcement from the Consumer Financial Protection Bureau (CFPB) to provide a grace period for servicers attempting to comply in good faith with the TILA-RESPA Integrated Disclosure (TRID) requirements that are scheduled to go into effect August 1, lingering TRID concerns remain.The Association of Mortgage Professionals (NAMB) and other housing associations, requested today in … Continue reading Concerned Housing Associations Ask CFPB To Implement ‘Hold Harmless’ Period for TRID by Xhevrije West