Mortgage Demand Booms Following Holiday Slump Demand for mortgage applications saw a dramatic jump last week, according to new numbers from the Mortgage Bankers Association. Overall, application demand was up 23.5 percent from one week earlier. A larg...
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Taking The Long View Of The Housing Market When you're in the middle of something, it can be hard to see things clearly. Only after you've gained some perspective and had time to reflect do things become clearer. Hindsight, after all, is 20/20. This i...
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Young Adults Saving Early For Homeownership First-time home buyers are important to the health of the housing market, since they typically account for around 40 percent of the homes sold. And though that number has fallen in recent years, a stronger e...
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Mortgage Rate Increase Doesn't Slow Demand According to the Mortgage Bankers Association's Weekly Applications Survey, average mortgage rates were up across all loan categories last week, including 30-year fixed-rate loans with both conforming and jum...
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Your First Step Toward Buying a Home When preparing to buy a home, the first thing many homebuyers do is look at the real estate ads in newspapers, magazines and listings on the Internet. Some potential buyers read how-to articles like this one. The next...
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Have These Items Ready When You Apply For a Loan It used to be that lenders mailed out verifications to employers, banks, mortgage companies, and so on, in order to verify the data supplied by borrowers. Nowadays, the interest is often in speed and getti...
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How would you like a mortgage loan where you did not have to make the whole payment if you did not want to? Or would you like a loan with an interest rate about 1% below a thirty-year fixed rate mortgage and pay zero points? Or a loan where you did not ha...
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In the olden days, when someone wanted a home loan they walked downtown to the neighborhood bank or savings & loan. If the bank had extra funds lying around and considered you a good credit risk, they would lend you the money from their own funds. It doe...
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What is a FICO® Score? FICO® stands for Fair Isaac & Company and is the name for the most well known credit scoring system, used by Experian. The credit bureau's computer evaluates a complete credit profile and assigns a score, which is used to estimat...
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Mortgage Bankers Mortgage Bankers are lenders that are large enough to originate loans and create pools of loans, which are then sold directly to Fannie Mae, Freddie Mac, Ginnie Mae, jumbo loan investors, and others. Any company that does this is conside...
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