What is the minimum credit score that can qualify you for a mortgage? What are your options if you have less than perfect credit? Amber Hunt answers these questions in this week’s Watch-It Wednesday!
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Tag Archives: Consumer Credit
Quicken Loans Capital Markets Update – Mortgage Applications Rise, Consumer Credit Expected to Fall
Quicken Loans Capital Markets Update for July 8, 2009
In this morning’s economic news, US mortgage applications rose 11% last week. Refinance activity led the way with a 15% surge while purchase applications increased by 6.7% s foreclosure driven declines in home prices have brought more homes within reach of buyer who qualify for credit.
Fed Poised to Take Unprecedented Action to Spur Mortgage Lending
Having already cut its target Fed Funds Rate to a range of 0 – .25 percent, the Federal Open Market Committee (FOMC, Fed) today announced that it will maintain the funds rate and will continue, and perhaps expand, its current plan of purchasing mortgage-backed securities. The Fed went even further, stating its prepared to purchase long-term Treasury bonds as a means to help free up credit for consumers.
Credit crunch brings mortgage activity down
The Mortgage Bankers Association announced this morning that applications for mortgage loans, on a seasonally adjusted basis, decreased 14.2% last week when compared to the week prior.
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