News about mortgage market and tips how to find mortgage lenders
According to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending May 29, 2020. This week’s results included an adjustment for the Memorial Day holiday. The Market Composite Index, a measure of mortgage loan application volume, decreased 3.9 percent on a seasonally adjusted basis from one week earlier. On Read more about Mortgage Applications Decrease from the last week[…]
Mortgage rates point today a new historic low today February 24, 2020. The stock market melts down due to fears the coronavirus is spreading, as new cases crop up in Italy and Iran. The virus has reached over 80,000 patients in the world today, the majority in China, but the concern is that nobody can’t Read more about Mortgage rates in a historic low[…]
Your credit score is a three-digit number that relates to how likely you will repay the debt on time. Lenders, including mortgage lenders, use your score to approve, or not, a loan and establish a specific interest rate for that loan. There are credit bureaus and there are credit scoring models. Le’ts talk about scoring Read more about Understanding Credit Scores[…]
Jill Schlesinger talks in CBS Eye on Money and explains about the benefits of Loan Refinancing. Two facts to consider these days:• Currently, the Average Interest Rate is 3.65% for a 30-Year Fixed Mortgage Loan.• Near 63% of loan refinance applicants are homeowners. The purpose of a refinance is to take advantage of a lower Read more about Tips on Refinancing your Mortgage Loan[…]
L.A. City Planning Department (DCP) released its full draft Downtown Community Plan, called DTLA 2040. Once approved, the plan would eliminate parking requirements for all of downtown Los Angeles. Under the proposed Plan, 60% of Downtown — compared to 33% today — would be eligible for residential uses. By the year 2040, Downtown will include Read more about Downtown Los Angeles 2040 Plans[…]
The first-time homebuyers need all information available to obtain assistance programs for the downpayment and the purchase of their dream home. Here is a summary of the main programs. If you need more information on any of the program, do not hesitate to call us at (323) 942-9347 • FHA loan program: A loan insured Read more about First Time Home Buyer Programs[…]
The Mortgage Banker Association said recently that the Market Composite Index, a measure of mortgage loan application volume, decreased 3.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4 percent compared with the previous week. We can identify three clear trends in the last three years: Read more about Mortgage Rates down again..![…]
The bond market extended its positive reaction to yesterday’s Fed announcement of keeping the rates the same. This cause Mortgage rates plunged today. Mortgage News Daily reported FHA 30-Year Mortgage Rate was 3.60%, the Conforming 30-Year Mortgage Rate reached 3.79% and the Jumbo 30-Year Mortgage Rate was 3.85%. The Fed confirmed the market’s suspicion that Read more about Mortgage Rates Hit New Long-Term Lows[…]
Mortgage rates broke a week-long streak of silence today following a policy announcement from the Federal Reserve. Today, the Federal Reserve (FED) announced a significant change in its loan portfolio policy consisting of Treasuries and Mortgage-Backed-Bonds. They decided to slow the pace of the decline in reserves over coming quarters provided that the economy and Read more about Mortgage Rates going deeper down..![…]
The new lows came due to a combination of three factors: news headlines, economic data, and the scheduled sale of US 10yr Treasury debt. International news about Brexit pushed down the mortgage rates. Brexit is the withdrawal of the United Kingdom (UK) from the European Union (EU), which is scheduled to take place on 29 Read more about Mortgage Rates dropped to 14-Months Low[…]