After rising steadily for the last 3 weeks mortgage rates fell back down this week. The 30 year rate fell from 5.03 to 4.98. The 15 year rate fell from 4.46 to 4.40. The 5 and 1 year arm fell from 4.42 to 4.35 and 4.57 to 4.47 respectively. This looks like more of a hiccup as mortgage rates steadily start there rise. At this point the overwhelming consensus is that mortgage rates are going to rise in the next six months. But the lowered...more
Mortgage rates fell this week with three of the 4 major mortgage products hitting all time lows. The most important of the four mortgage products the 30 year rate fell to 4.78 from 4.83 equaling the previous low. The 15 year mortgage product hit 4.29 beating the previous low of 4.32 reached last week. The 5 year arm came in at 4.18 breaking the previous low of 4.25 also reached last week. The 1 year arm stayed at 4.35. Below are rates from...more
Author: marcoIf you have gone through bankruptcy, you know that it is not the end of the world and that it is actually meant to give you a fresh start. The problem is that the start is not so fresh because bankruptcies usually leave your credit history, credit score, and subsequent credit reports in a shambles. You may have cleared your debts and given yourself a little breathing room, but you will probably want to qualify for a mortgage at some point after your bankruptcy. The steps that you can take to fix your credit history and credit score are not as difficult as some people might imagine. The most important thing that you can do to fix your credit is not to repeat the mistakes that led to your bankruptcy. If you got way in over your head with credit cards, then be careful when you are able to get new ones. If you had little or no savings, then you need to save enough so that you can get through tough times should they return. You need to be proactive about trying to improve your credit score. It is your credit that is going to determine whether you qualify for a mortgage or how much you qualify for. Hence, you need to get hold of a copy of your credit report...more
Last week mortgage rates matched their all time low of 4.78. This week rates fell even further reaching a new low of 4.71. To put this in some context in terms of historical mortgage rates before the last 12 months the all time low was 5.24 which was reached in the middle of 2003. Today's rates are a full half point below that. Although the 30...more
If you are in a new industry and know nothing about it, the common thing that you will do is to seek for knowledge. Trading industry is a very big world. There are lots of twists and turns that you have to learn. Options call put are just one of the basics that you have to learn. There are lots and lots of things to know about the foreign exchange...more
Due to financial crisis, many homeowners have been struggling to make the payments of their monthly mortgages. They are almost at the edge of losing their homes. To overcome the situation, Obama government has launched a great plan to lower down the burden of homeowners monthly mortgage payments.According to this mortgage rescue plan Obama government has targeted about 9 million homeowners who are in deep crisis. Under this plan, mortgage giants Fannie Mae and Freddie Mac will provide the refinance facility to 4 to 5 million homeowners. And, the rest 3 to 4 million homeowners who are unable to pay their monthly installments will get incentives that will reduce the monthly payments. However, there are millions of borrowers who are in the crisis and have difficulty in paying monthly payments. But all of them do not qualify and hence are not eligible to avail the facility provided by this plan. If these people meet the following criteria, they are eligible for Obama rescue plan:- Your home should be primary residence.- The amount you have loaned on your first mortgage should be equivalent or less than $729,750.- You must have genuine problem in paying your mortgage amount. (Normally,...more
Yes, it's true. Due to the economy and the general decrease in income in the American household, the feds have a program that can cut your mortgage rate to 2% in order to make your payment 31% of your gross income. However, it seems that qualifying...more
The most successful mortgage loan companies purchase online mortgage leads. They do not have the time or the resources to build their own comprehensive list. Many online lead companies tout the cheapest prices, the fastest turnaround, and the largest...more
Live transfer leads or hot transfer leads are procured when a lead generating company transfers an active phone call with a mortgage prospect to a mortgage loan company. Frequently, loan officers spend much of their time making phone calls to...more
The mortgage leads industry has exploded in recent years. There are companies that sell leads, and companies that provide the back office systems to handle the lists for lead buyers. There are many types of leads, from live-transfer and loan...more
Mortgage refinancing loan can provide an excellent escape for many homeowners and ordinary people from their financial problems. With the recent breakdown in economy and recession, people around the world have lost lot of value or equity on their...more
How do you know if youre eligible for a reverse mortgage? Well lets start out first with what a reverse mortgage is. A reverse mortgage is a loan that allows older homeowners to access the equity in their homes. Instead of making monthly mortgage...more
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