Mortgage Blog

Top Jumbo Mortgage Lenders in Fourth Quarter 2008

Most mortgage rates we see advertised are for conforming mortgages, which for sake of simplicity, are good for loan amounts up to $729,750. But what about those of us looking for larger loans, otherwise known as jumbo mortgages? Who’s offering them and at what price? Well, as I recently noted in an article, Return of the Jumbo, [...]

Is Finishing Your Basement Worth It? How This Change Could Help Sell Your Home!

–> You've fantasized about a mancave. Okay, maybe one of you has fantasized about a mancave and maybe one of you has some other ideas like having an in-home workout space, an office or a playroom for the kids. No matter what you need the extra space for, a finished basement can almost always benefit you [...]

Nearly Half of Modified Mortgages Delinquent Again

Some things just can’t be fixed, like unaffordable mortgages, that is, if you don’t bother making them more affordable. The OTS released its fourth quarter 2008 Mortgage Metrics Report today, which revealed that nearly half of recent loan modifications fell back into serious default within months. “For example, the percentage of modified loans that were seriously delinquent [...]

Home Equity Delinquencies Hit New Record High

It’s not just mortgage rates that are setting records; delinquencies are also climbing to levels never seen before. The latest bad news comes from the American Bankers Association’s Consumer Credit Delinquency Bulletin, which revealed that delinquencies increased in nearly all consumer loan categories. Home equity loan delinquencies, largely second mortgages, rose 40 basis points to 3.03 percent [...]

Today’s Mortgage Interest Rates – Friday, April 3, 2009

–> Looking forward to the weekend, it's a great weekend for house shopping so let's get to the rates. Mortgage rates are still at record-low levels and offer great opportunities for home buyers and anyone interested in refinancing! Many specific factors are taken into account to determine which mortgage rate you’ll qualify for, but here are [...]

Austin Home Appraisers

You’ve completed your loan application and submitted it to your mortgage broker. Now you’re anxiously awaiting the home appraisal. What is an appraisal anyway and what does the appraiser mean to you and that mountain of paperwork you just completed? Early in the loan process, your personal/financial approval is accomplished fairly early and commitment by the [...]

Wells Fargo Plans Foray Into Warehouse Lending

San Francisco-based bank and mortgage lender Wells Fargo is reportedly looking to venture into warehouse lending, according to Bloomberg. The paper, which cited two people familiar with the matter, said the business would be based out of Atlanta, and headed by Kenneth Lognan, who was acquired via the Wachovia merger. Back in February, Wells chief John Stumpf [...]

Mortgage Apps See Slight Rise, Interest Rates Move Little

Mortgage application volume seems to have peaked, despite the record low interest rates currently on offer, which also appear to have bottomed. Home loan apps increased just three percent on a seasonally adjusted basis for the week ending March 27 after surging a week earlier, the MBA reported today. On an unadjusted basis, the index was up [...]

Today’s Mortgage Interest Rates – Wednesday, April 1, 2009

–> It's the first day of April and spring is well on its way–and with this buyer's market, so is the rush to buy houses! Mortgage rates are still at record-low levels and offer great opportunities for home buyers and anyone interested in refinancing! Many specific factors are taken into account to determine which mortgage rate [...]

Mortgage Applications Increase Due to Great Bargains on Homes and Low Rates

–> Last week, the number of Americans applying for mortgages decreased from the previous week, according to a report released today by the Mortgage Bankers Association (MBA). The Market Composite Index, which measures and compares mortgage loan application volume from week to week, showed that for the week ending March 27, mortgage activity increased 3 percent from [...]