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Stay informed of mortgage industry news, mortgage rates and guide line updates at RefinanceNews.com Use our blog to assist with your refinance decision, purchase loan or mortgage related occupation.

Tuesday, June 21, 2011

Existing Home Sales Drop 3.8%

The National Association of Realtor said that home sales dipped 3.8% from the prior month. Sales of previously owned U.S. homes fell to a six-month low in May and prices dropped 4.6%. This can be a pretext to a second real estate down turn. This should concern homeowners interestest in refnancing because lenders may be more hesitant lendng money. Also, homeowners are going to find that their equity in their homes are decreasing which may make it more diffcult to qualify with ltv guidelines.

Take advantage now while you can. Rates are low so homeowners that can qualify may find this an oppertune time to refinance.
Posted by Florida Mortgage at 10:50 AM 0 comments

Tuesday, May 24, 2011

Mortgage Rates Hit New Lows for 2011

Last Thursday, the average rate on the 30 yr fixed mortgage fell to 4.61%. That's down from 4.63% and the lowest level since mid-December.

The average rate on the 15 year fixed mortgage, a popular refinance option, slipped to 3.80% from 3.82%. That is the lowest point since late November for a 15 yr fixed mortgage rate.

Homeowners and first time buyers should consider refinancing or obtaining a mortgage before rates increase. Contact your mortgage professional to see what make sense for your situation.
Posted by Florida Mortgage at 7:42 AM 4 comments

Thursday, December 16, 2010

Mortgage Rates Rise

The average 30 year mortgage rate rose to a six month high. The average 30 year mortgage rate climbed to 4.84 from 4.66% Many experts predict mortgage rates will continue to sharply rise in the near term. Rates have continued their upward trend despite the Fed announcing to continue their treasury purchasing policy.

The Feds treasury purchasing program has been a major component in rates hitting all time lows. Many experts are surprised that rates continued to climb even after the Fed's announcement.  
Posted by Florida Mortgage at 6:48 AM 1 comments

Friday, December 10, 2010

Mortgage Rates Continue to Climb

Mortgage rates continue to climb to their 5 month high as investors sell treasuries. This past week rates increased .15% to 4.61% on the average 30 year mortgage. The previous 30 year average was 4.46%. Many borrowers that haven't taken advantage of these records low rates are still scrambling to qualify for a mortgage. Borrowers should speak with their mortgage professional to see if they can qualify and whether they are able to save money refinancing their present mortgage.
Posted by Florida Mortgage at 1:20 PM 0 comments

Wednesday, December 8, 2010

Mortgage Applications are Down

Mortgage applications fell last week .09%. While purchase applications increases 1.8%, refinance applications, which are a greater portion of the mortgage application universe, decreased 1.4%.

The increase in the purchase applications is a good sign but it may only be a one time occurrence. It may not be a sign of a strengthening real estate marketing. We will have to wait for more numbers to see if purchase applications continue to trend upwards. Expect refinance applications to fall if mortgage rates continue to rise.
Posted by Florida Mortgage at 8:57 AM 0 comments

Wednesday, July 21, 2010

New Mortgage Applications Up

New mortgage applications are up. Spurred on by record low mortgage rates new mortgage applications were up 3.4%. Refinance applications were also up 9% last week and about 30% over the past month.
Posted by Florida Mortgage at 9:56 PM 0 comments
Labels: Mortgage News

Thursday, July 8, 2010

Rates Drop Even More

30 year mortgage rates drop to a new low of 4.57%.  This may spark the housing market and an increase in refinance applications. Homeowners and home buyers may have the ability to receive some of the lowest rates in history.
Posted by Florida Mortgage at 7:54 AM 0 comments
Labels: Rate Updates
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About Me

I'm a licensed mortgage professional that has been helping borrowers for the past 8 years refinance and obtain mortgages for new homes. I enjoy providing helpful mortgage information to people interested in financing their home. Feel free to contact me with any questions about your mortgage situation.

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