Archive for January, 2015

Mortgage Rates defy Gravity

Tuesday, January 27th, 2015

Mortgage rates keep falling, and that has borrowers rushing to close a deal. Applications for home loans soared 49 percent for the week that ended Jan. 9, according to the Mortgage Bankers Association, the largest pop since 2008.  The jump from a week earlier came from a 66 percent increase in refinances and a 24 […]

Shop for your mortgage

Friday, January 16th, 2015

Americans may be spending more time shopping for shoes than for a mortgage, a report from the Consumer Financial Protection Bureau suggests. Almost half of consumers seeking a loan to purchase a home do not shop lenders, the agency. A consumer taking out a 30-year mortgage for $200,000 and paying an interest rate of 4.5 […]

Time to Payoff that HELOC

Wednesday, January 7th, 2015

Some mortgage and credit experts worry that billions of dollars of home equity credit lines that were extended a decade ago during the housing boom could be heading for big trouble soon, creating a new wave of defaults for banks and homeowners. That’s the worts case scenario, and that’s because these credit lines, which are […]