Mortgage Refinance

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Death of Mortgage Refinance Pt. 2: EPIC Drop in Home Refis Took Place Already (CHART)

Ed Ferrara | March 13, 2010 | 0 Comments

Mar. 13, 2010 (FreeRateUpdate.com) – Did an epic decline in mortgage refinance applications fly under the radar? What I’m going to tell you in this article suggests just that. I included some hard facts, little talked about information on refi apps, and a chart that will be tough to dispute. First off, if you’re under the impression the refi market is strong now, based on refi apps, you may want to re-think your position. The Mortgage Bankers’ Association Weekly Application statistics are… Read more

The Death of Mortgage Refinance Looms

Ed Ferrara | March 9, 2010 | 0 Comments

Mar. 10, 2010 (FreeRateUpdate.com) – The majority of homeowners that qualify to refi under new guidelines, and who have equity, have done so by now. Trickling in now are procrastinators, (gamblers) those giving up on rates going lower, and surely some shoppers who have spent the last 6-12 months comparing rates. FACT: Mortgage rates have been historically low, consistently for almost a year and a half but refi volume has been average to weak. During the refi boom people… Read more

The Walker File: Mortgage Refinance Extinct, 6% Mortgage Rates, Wells Fargo

Bruno Mckenzie | February 3, 2010 | 0 Comments

I’m sorry I didn’t write my column after midnight today as my fans have become so accustomed to. Last night I was working on the Walker file. I delve into territories unknown looking for answers to big problems. Fannie, Freddie, mortgage rates starting with a numeral 6, a barren land in what was once booming with home refinance. I looked into 2011 and years beyond. I woke up this morning a wiser man, with a helluva headache. I closed the Walker file last night knowing some questions just don’t… Read more

Mortgage Rates Forecast: Mortgage Refinance Rates to 6% by 2011, Volume Down 80% (VIDEO)

Ed Ferrara | February 2, 2010 | 0 Comments

Lending Tree chief economist Cameron Findlay recently sat down with Fox Business News to give them his mortgage rates forecast, predictions for the mortgage refinance market and more. Cameron says economic conditions lead him to expect mortgage rates will rise 180 basis points to 6% by the first quarter of 2011. Higher interest rates surely factor into his calculations for mortgage refinance volume in the first quarter of 2011, which he expects will be down a staggering 80%. Affecting the… Read more

Coffee After Midnight: Mortgage Rates, Fed Funds Rate, Obama on Refinance.

Bruno Mckenzie | January 28, 2010 | 0 Comments

Let me start off this morning with a tip, always have a backup coffee maker on hand. Me, I keep two running at all times with a backup in the closet. I threw in a little picture of my 2 makers, I don’t buy new, I buy used, this new stuff just doesn’t brew the same. Picture below to the right. Now let’s get down to business. The Fed announced today in a much anticipated statement they’ll keep the Fed Funds rate between 0 and a quarter percent for an extended period of time. They said… Read more

Mortgage Refinance: Is the Mortgage Refinance Business on Life Support?

Sheldon Levene | January 27, 2010 | 0 Comments

I remember 2007 like it was yesterday. Refinance, refinance, refinance. Everybody and their mom knew to refinance and they could. Lending guidelines were more lax than ever before. I remember talking to guys with credit scores in the mid 500’s, no assets, and not much equity in the property to begin who wanted to take out 50 grand at 100% financing and demanded a rate under 6% at the same time. If I couldn’t do it, that was my problem, they’d take their business elsewhere, and they could. Boy… Read more

Mortgage Refinance: Low Mortgage Refinance Rates Lead to 75% of Mortgage Apps Being Refinance

Sheldon Levene | December 18, 2009 | 0 Comments

The numbers are out and according to the Mortgage Bankers Association 75% of mortgage applications in the first 2 weeks of December were for mortgage refinance. Low mortgage refinance rates have driven applications. What’s surprising is that there are people out there who haven’t done it yet. For the past year mortgage rates have been unusually low and home values continue to decline. Most anybody who can refinance today could of done it 8 months ago. That being said, though mortgage refinance… Read more

Why Mortgage Refinance is Slow Despite Record Low Mortgage Refinance Rates

Ed Ferrara | December 13, 2009 | 2 Comments

Almost everybody and their mom knows you should of refinanced by now. Most everybody who can has already. Despite a 6 week decline in mortgage refinance rates to all time record lows (4.5% 30 Year Fixed @ par), mortgage refinance activity is down from last year. Why? If you think about the market conditions a few things are obvious. Home values have decreased leaving most homeowners that would benefit from a mortgage refinance stuck in their current loans due to a lack of equity. One of the… Read more

Mortgage Refinancing Surge Since September – Low Mortgage Refinance Rates Spur Apps

Sheldon Levene | October 31, 2009 | 0 Comments

Zillow.com reports in a press release this week refinance applications are up significantly since September spurred by historically low rates. 30 year fixed mortgage refinance rates below 5 percent are credited with boosting refinance application volume. Despite a up to $8,000 tax credit for new home buyer’s securing financing with an FHA loan mortgage refinance applications make up over 50 percent of all loan applications. The Mortgage Banker’s Association said this week mortgage… Read more

Mortgage Refinance Rates Down Again – Mortgage Refinance Apps Up

Sheldon Levene | September 13, 2009 | 0 Comments

The 10 year treasury yield, regarded as the best indicator for 30 year fixed mortgage refinance rates, has declined 5 straight weeks . The yield matched it’s lowest level in 2 months Friday when for a moment it dipped to 3.295 before rising to 3.343 where it closed. Mortgage Refinance Rates Last Week Freddie Mac reported conforming 30 year fixed mortgage rates averaged 5.07 percent Monday through Wednesday of last week. A mortgage refinance at a loan amount of $200,000 fixed for 30 years at… Read more