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Number Of Mortgage Approvals In April Is Down
The number of approvals for mortgage loans in April fell for the 12th consecutive month, according to new statistics from the Bank of England.
According to the month’s figures, there were 58,000 loans approved for the use of house purchase, while 52,000 loans were granted for other purposes. However, while both of these figures were down [...]
Mortgage Rates Down For Fourth Straight Week
For the month of October we saw rates bouncing up and down pretty wildly. For the month of November we have not seen any large one week changes but a steady trend downward. The 30 year mortgage rate has moved down for the last 4 weeks. For the most part the other [...]
Fed Credit: Down The Tubes
On January 22nd, the Federal Reserve cut their most important interest rate for the fourth time in the past six months, in an attempt to stem the widespread sentiment that the US is in, or headed for recession. Their cut comes at a strange time, because they were rumored, nay, expected, to deliver the cut [...]
Mortgage Applications Back Down After Surge
Last week a move from the federal government caused interest rates to decrease to a very low rate. Mortgage companies noticed the increase in refinances from traditional home buyers who were taking advantage of low interest rates to save cash flow ever month.
One thing you have to consider when going to refinance a home is [...]
Mortgage Rates Move Down
Mortgage rates came down a little this week. We are still not back down to the levels we saw two weeks ago. 30 year rates fell from 5.25 to 5.16. This is a little higher than the 5.10 we saw two weeks ago and .2 points higher than the 4.96 we saw [...]
A Guide To Zero Down Or 100% Mortgages
100% mortgages have become very popular these days. The main benefit of 100% mortgages is that the borrower will not be required to put down a deposit. This can allow people with only a small amount of savings, such as first-time buyers, the opportunity to buy a property they want.
Essentially 100% of the value of [...]