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rates

Something very unusual happened with mortgage interest rates this month. The interest rate on jumbo mortgages actually fell below the interest rate of the conventional 30-year fixed-rate loan. Mortgage experts were quick to point out that this latest quirk of the housing recovery had never happened before. Conventional mortgages are 15-year and 30-year fixed-rate mortgages…

Borrowers Who Are Thinking About Refinancing Their Homes Through HARP 2.0 Should Familiarize Themselves With HARP 2.0 Refinance Guidelines To Be Able To Secure An Affordable Loan Plan. Homeowners have a tough choice when an additional responsibility crops up with the mortgage responsibility. Responsible borrowers prefer being regular with a mortgage. This can lead to…

Mortgage applications increased 1.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 30, 2013. The Market Composite Index, a measure of mortgage loan application volume, increased 1.3 percent on a seasonally adjusted basis from one week earlier. On an unadjusted…

Get ready for some major renovations in the federal reverse mortgage program. On Wednesday, the U.S. Senate joined the House in passing legislation giving the Federal Housing Administration authority to alter its Home Equity Conversion Mortgage program, or (HECM), protect borrowers and help the agency avoid a federal bailout. The agency is expected to reveal…