mortgage loan
BASIC INTEREST CONCEPTS: Investment Interest
March 9, 2009 by Mortgage Align · Leave a Comment
The intention in making an investment, say in mortgage financing, is to give up immediate possession of those funds for a larger amount in the future. Hence, more quantity of money would be available to the investor for the purchase of goods, use of services or more investments. The expected growth in the invested fund is what encourages an investor to defer expenditure and consume it in the future.
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Mortgage Applications Report Shows Expected Decline
February 14, 2009 by Mortgage Align · Leave a Comment
Last week, the number of Americans applying for mortgages decreased from the previous week, according to a report released today by the Mortgage Bankers Association (MBA).
The Index, which measures and compares mortgage loan application volume from week to week, showed that for the week ending February 6, mortgage activity decreased 24.5 percent from the previous week’s numbers. The number of refinance applications dropped 30.3 percent, while applications from those seeking to purchase a home fell 9.8 percent.
“A dip in mortgage activity is to be expected, especially after such a prolonged period in week-over-week growth in mortgage activity,” said Bob Walters, Chief Economist, Quicken Loans.
“The fact is rates remain very low and plenty of people still stand to benefit from refinancing their existing mortgages. I’d expect activity to remain strong as long as rates remain near current levels.”
mortgage loan
Mortgage Applications Report Shows Expected Decline
February 12, 2009 by Mortgage Align · Leave a Comment
Last week, the number of Americans applying for mortgages decreased from the previous week, according to a report released today by the Mortgage Bankers Association (MBA).
The Index, which measures and compares mortgage loan application volume from week to week, showed that for the week ending February 6, mortgage activity decreased 24.5 percent from the previous week’s numbers. The number of refinance applications dropped 30.3 percent, while applications from those seeking to purchase a home fell 9.8 percent.
“A dip in mortgage activity is to be expected, especially after such a prolonged period in week-over-week growth in mortgage activity,” said Bob Walters, Chief Economist, Quicken Loans.
“The fact is rates remain very low and plenty of people still stand to benefit from refinancing their existing mortgages. I’d expect activity to remain strong as long as rates remain near current levels.”
mortgage loan
Historically Low Mortgage Rates Spur Refinancing Frenzy
January 14, 2009 by Mortgage Align · Leave a Comment
Historically low mortgage interest rates have homeowners refinancing in record numbers, according to the latest Weekly Mortgage Applications Survey, released today by The Mortgage Bankers Association (MBA).
The MBA reports that its Market Composite Index, which measures mortgage loan application volume, shows the number of people applying to refinance their mortgage surged, climbing 25.6% while the purchase index fell 14.1% for the week ending January 9, 2009.
According to Quicken Loans Chief Economist Bob Walters, mortgage activity is poised for a sustained rally.
“Mortgage activity remains very strong, thanks primarily to historically low long-term interest rates,” Walters said. “Leading up to the recent application boom, we had seen demand driven by necessity – such as homeowners needing to refinance out of ARMs that were set to adjust higher. However, the latest boom is being led by consumers who may have been in good loans, but are looking to cut their rates, or payments, even further.
“Because of this, and the sheer number of people who stand to save considerably by refinancing their mortgages, I would expect this surge in activity to continue for a very long time.”
mortgage loan
Choosing Real Estate Related Services
December 20, 2008 by Mortgage Align · 1 Comment
Buying a home is a big financial commitment — very likely, the biggest financial investment most people make. If you choose to work with a real estate professional, finding someone who understands what you are looking for and how much you can afford to spend is critical. Ask friends, family members, neighbors, or co-workers who have bought or sold recently for recommendations. Interview several agents about their experience, style, and market knowledge. Expect an agent to be professional: to return your phone calls promptly, to be organized, to listen to your preferences, and to communicate clearly. Here are some questions you may want to ask:
- How many homes have you sold in the past year?
- How many in the neighborhood I’m interested in?
- Can you provide a list of references?
- Are you willing to represent only my interests? Do you have any obligations to the seller?
- What is the commission you are interested in? Are you willing to negotiate that? Will you accept a lower commission?
- How many homes are you prepared to show me? Where will you look for these?
- Will you show me homes that offer lower commission rates? Homes offered by non-traditional brokers?
- Homes that are For Sale By Owner?
Once you sign your purchase agreement, your agent may recommend companies for financing, inspections, moving, insurance, and other related services. It may be convenient for you to use these providers, but it isn’t required. Shopping for these services is just like shopping for any services: Compare prices and ask for references before you make your choices.
Go to www.ftc.gov/realestate for more information about buying a home and a glossary of real estate terms. The FTC works to ensure a competitive marketplace and to provide information to help consumers spot, stop, and avoid fraudulent, deceptive, and anticompetitive business practices. To file a complaint or to get information on many more consumer issues, visit www.ftc.gov, or call 1-877-FTC-HELP (342-4357).
