Higher Mortgage Credit Availability in November

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The Mortgage Credit Availability Index of the Mortgage Bankers Association rose in November 2014. It reached 114.6 after climbing by 1.2%. MCAI was set to 100 in March 2012. An increase in this index indicates loosening of the mortgage while

Slight Rise in Mortgage Rates


In the week ended December 11th, mortgage rates went up slightly, but the average rate on a 30-year fixed-rate loan remained below 4 percent. The data was presented in the weekly Primary Mortgage Market Survey compiled by Freddie Mac. The

Freddie Mac Launches Mortgage Program with 97 Percent LTV


The new Home Possible Advantage (SM) program of Freddie Mac is designed to provide mortgage loans with maximum loan-to-value ratio of 97%. This will enable borrowers to make a down payment of just 3%. The program is designed to assist

Mortgage Applications Go Up Driven by Refinance


The applications for mortgage loans in the United States rose by 7.3% in the week ended December 5th 2014. This is revealed by the data in the Weekly Mortgage Applications Survey of the Mortgage Bankers Association. The seasonally adjusted Market

Fannie Mae Introduces a Mortgage with 3 Percent Down Payment


Now first-time home buyers can access mortgage loans with down payment which is as low as 3%. Fannie Mae formally announced the guidelines for its program for loans with 97% loan-to-value ratio. The program is expected to give easier access

Mortgages More Difficult to Obtain for the Self-Employed

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Americans who are self-employed have to meet higher mortgage requirements when applying for a home loan. This is revealed in a new research report by the online real estate database Zillow. Zillow found that self-employed individuals receive nearly two times

Further Drop for Mortgage Rates


The average rate on a 30-year fixed-rate mortgage declined to 3.89% in the week ending December 4th 2014. This is the lowest level which it has reached since the end of May 2013. The statistical data was released in the

Lower Profit for Independent Mortgage Bankers

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The net gain on each mortgage loan originated by independent mortgage banks and chartered banks’ mortgage subsidiaries in the third quarter of 2014 was $897. It experienced a decline compared to the second quarter of the year when it was

Decrease in Mortgage Refinance Despite Lower Rates


The volume of applications for mortgage refinance dropped by 13% in the week ended November 28th. It took seasonal adjustments and adjustments for the holiday weekend Meanwhile, the average rate on a 30-year fixed-rate conforming mortgage declined to 4.08% from

Rate Increase Will Have Major Impact on Housing Affordability


mortgage rates rise by 1% over the course of the next 3 years, housing in 21 out of 25 biggest markets in the country will become unaffordable for the American earning the national median income. This conclusion was reached in

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