By: Equity National September 18, 2014 No Tags Closing
Mortgage application volume rebounded last week
In the first week of September, the total number of mortgage applications slumped very badly, and ended up bringing the volume across the sector down to levels not seen in years. Fortunately for the industry and the housing market as a whole, though, there was a big step in the right direction once again last week, potentially putting things back in the right direction for some time to come. In all, the number of new home loan requests filed i...By: Equity National September 16, 2014 No Tags Closing
FHFA gets lots of resistance on proposed mortgag...
The federal government has tried to significantly increase regulation of the financial services industry in the past several years, and nowhere has this been more apparent than when it comes to mortgages. However, some efforts to increase controls on this aspect of the lending sector have occasionally hit a roadblock or two, and that certainly seems to have been what happened with a recent proposal from the Federal Housing Finance Agenc...By: Equity National September 12, 2014 No Tags Closing
Mortgage rates rose very slightly this week
Mortgage rates have been hovering at or near their current level for a few months now, after starting the year slightly higher. And it seems that they were stubbornly stuck in place even this week, which could continue to give consumers more options for finding high affordability on their home loans. There was a slight uptick in average mortgage rates in the week ending Sept. 11, but the fact is that it won't be big enough to make mu...By: Equity National September 11, 2014 No Tags Closing
Mortgage applications take another huge slide, d...
Over the course of the past year or so, the number of mortgage applications being filed every week has slowly but surely trended downward, even despite a few outliers. That certainly continued this week thanks to a huge decline in request volume overall, driven by consumers growing far less interested in refinancing specifically. In all, the seasonally adjusted number of home loan requests filed nationwide fell 7.2 percent from the p...By: Equity National September 9, 2014 No Tags Closing
Foreclosure completions, inventory continued to ...
One of the biggest problems for the housing market in the last several years has been that millions of Americans have slipped into dire financial straits – often through no fault of their own – and struggled to stay current on their mortgage payments. As a result, many have dealt with foreclosure since the recession began, but the number of those who are doing so currently continued to slide in July. Overall, the number of completed forecl...By: Equity National September 8, 2014 No Tags Closing
HAMP continues to be a problem for many homeowne...
Across the country, millions of Americans have taken the last few years to get caught up on their mortgage payments and reduce rates of delinquency and default in the housing market. However, many more say they're still struggling under the weight of home loan costs they can't afford, and that they haven't been able to receive some help from the federal government they might have otherwise expected. The Home Affordable Modification Program was...By: Equity National September 5, 2014 No Tags Closing
Mortgage rates a mixed bag, even as they stayed ...
Over the last several months, mortgage originations have slowed down considerably, even as rates have largely hovered at extremely affordable levels. Once again this week, there was no appreciable change for all of the most popular home loan types, as they remained more or less near the lowest levels seen this year across the board. There was, for instance, no change in the average rates for 30-year fixed home loans in the seven-day ...By: Equity National September 5, 2014 No Tags Closing
Older Americans still struggling with significan...
Millions of Americans suffered at least some kind of financial hit when the economy took a nose dive several years ago, and while there has been recovery since that time, it seems to not have reached all aspects of consumers' financial lives. For instance, many people who had planned to be retired by this point are still in their jobs, simply because they still carry significant mortgage debts. The average home loan balance owed by h...By: Equity National September 4, 2014 No Tags Closing
Experts keep pushing for more mortgage availabil...
One of the biggest problems often cited by housing experts when it comes to the lack of sales in the past several months is that in many cases would-be homeowners find it incredibly difficult to qualify for the necessary credit. This could be particularly problematic for the market as affordability continues to decline, too, because the relatively small number of currently eligible buyers might be turned off by the higher costs. Fortunately fo...By: Equity National September 4, 2014 No Tags Closing