Interest rates moved in the wrong direction for many consumers' tastes last week, according to the Mortgage Bankers Association (MBA), which reported a 19.2 percent drop week-over-week in people applying for a loan to purchase a home or refinance their mortgage.
The Mortgage Bankers Association announced this morning that applications for mortgage loans, on a seasonally adjusted basis, decreased 22.6 percent last week when compared to the week prior.
The National Association of Realtors (NAR) announced today that existing home sales – including single-family, townhomes, condominiums and co-ops – decreased 0.4% in January, when compared to the previous month's sales. According to the report, January was the slowest month for home sales since the report's inception in 1999.
Attention homeowners: Your home may be brimming with tax advantages. Do you know about all the breaks you are entitled to? You should always consult a professional tax advisor for details, but here's a go-to list of the top 10 tax deductions for homeowners
A very disturbing and potentially damaging trend seems to be emerging in several real estate markets across the country. Especially those markets with flat or even declining values. The trend? Well, it seems that some very less than scrupulous folks have resorted to promoting foreclosure to people wishing to move and having trouble selling their current homes.
The Mortgage Bankers Association announced this morning that applications for mortgages slipped 2.1 percent last week when compared to the week prior.
The economic stimulus package penned by House leaders and President Bush 2 weeks ago is one signature shy of becoming a law. It was passed by the House last week, and after some added provisions by the Senate, it has won an overwhelmingly positive vote in the Senate. It should be in the President's hands next week, where he has promised swift action.
The housing market received a welcomed bit of good news this morning, as the Mortgage Bankers Association (MBA) announced the number of consumers applying for a mortgage to purchase a home jumped 12 percent in the past week.
As the baby-boomer generation ages and the availability of post-retirement income diminishes, there has been a clear demand for ways for people to tap into the equity in their homes in new and innovative ways. Enter the rise of the reverse mortgage.
The Federal Open Market Committee (FOMC, Fed) decided to reduce the Fed Funds Rate to 3.0%. The Fed Funds Rate, the overnight rate at which banks lend to each other, affects short-term interest rates such as those on adjustable rate mortgages, credit cards and home equity lines of credit.