Mortgage rates hit 4.42% for a 30-year fixed rate mortgage, the lowest on record. But a growing number of homeowners are ignoring the lower rates locked out from obtaining them due to more restrictive mortgage underwriting guidelines. The new lower rates may make great headlines and TV news fodder but they’re doing little to help most people. » Read more…
Tag Archives: mortgage lending
Mortgage lending and foreclosures on full automatic
Posted by MORTGAGE BLOG NEWS on March 2, 2011
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The following editorial ran in the Seattle Times on Monday, Oct. 25, 2010: » Read more…
Mortgage lending down amid warnings of second house price crash
Posted by admin on February 28, 2011
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Mortgage lending has fallen to its fourth lowest level on record amid warnings of a second crash in house prices.
The latest figures from the Bank of England revealed that net lending – which strips out redemptions and repayments – dropped to just £86 million in July, a steep fall from June’s £518 million. » Read more…
Home Mortgage New – Mortgage Cycling – Brilliant or Risky
Posted by admin on February 23, 2011
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With low mortgage rates, almost 20 years, competition, home mortgage new, in the mortgage industry is fierce. It seems every day a new mortgage loan strategy comes out that is supposed to be the best thing since sliced bread. If a mortgage with no closing costs or interest only mortgage, everyone says it can save you a lot of money. Now, someone came with something called Mortgage Cycling. Mortgage Cycling could save you thousands of dollars or it could cost your home.Mortgage bike is a program that promises, home mortgage new, to, home mortgage new, be a way to repay the loan in 10 years or less without making mortgage payments every two weeks or change the existing mortgage. » Read more…
Mortgage lending still subdued, UK lenders say
Posted by admin on February 23, 2011
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UK mortgage lending remains subdued, according to the Council of Mortgage Lenders (CML).
Its comments came as it said the amount lent in new home loans rose by 7% in May from the previous month to £11.3bn.
Although that was up 10% from a year ago, the level of new lending this year has been low by historical standards.
The CML said higher taxes and public spending cuts to be announced in next week’s Budget would probably subdue mortgage lending further.
“The market will inevitably be affected by how policy impacts on the wider economy – particularly on household finances and confidence,” said the CML’s economist Paul Samter.
First-time buyers
In the latest edition of its monthly publication “Trends in Lending”, the Bank of England said that lenders expected mortgage borrowing to remain “broadly flat” in the next few months. » Read more…