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Articles tagged with: interest rate

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[7 Jan 2012 | One Comment | 1,639 views]
Looking back on 2011

In hindsight, it’s clear that 2011 was decidedly mixed in terms of housing markets around the nation.
Freddie Mac – the government sponsored lending giant – projected that lenders would write $1.8 trillion in home loans last year. The group revised that estimate downward to $1 trillion partway through the year and lenders ultimately wrote $1.3 trillion in home loans in 2011.
That’s down 23.53 percent from $1.7 trillion in 2010 and down 60.61 percent from $3.3 trillion when housing markets peaked in 2005. Furthermore, the better-than-expected results had a lot to …

Business, Columns and other comments, Features and such, News, Real Estate »

[20 Nov 2011 | One Comment | 2,175 views]
Worried about mortgage payment? Go local.

TransUnion released a report stating the mortgage delinquency rate for the third quarter has risen for the first time since the last quarter of 2009.
The credit bureau had initially forecast a decline in the delinquency rate. The national delinquency rate – which serves as a snapshot of how many people were 60 days or more behind on their mortgage payments – was 5.88 percent in the third quarter. For the record, Arkansas fared better than the national average at 3.62 percent.
Believe it or not, the ramifications of the so-called subprime …

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[11 Sep 2011 | 2 Comments | 4,227 views]
What is private mortgage insurance?

A lot of factors go into calculating a mortgage payment, but one over which a homebuyer has a lot of control is the amount paid toward private mortgage insurance (PMI).
What, exactly, is PMI?
Simply put, it is insurance which helps protect the lender should the buyer go into default. The idea is that money raised through PMI premiums will cover the lender’s losses should the institution have to take back a home and sell it.
Buyers can’t do a lot about how much they pay on interest and principal every month or, …

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[21 Feb 2011 | One Comment | 1,565 views]
Letting the market work

After months of anticipation, the Barack Obama administration released a plan to reform the secondary mortgage market that is decidedly capitalist in approach.
Yes, the Obama administration has proposed putting together a secondary mortgage market that is primarily financed by private capital. That’s a bit of a departure from what we’ve had for the past few decades and is well worth discussing.
Here’s a fact to consider – over the past couple of decades, taxpayers have been tapped for over $500 billion to cover the government’s losses following one plan after another …

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[8 Jan 2011 | One Comment | 1,364 views]
Purchase mortgages up slightly

Want a bit of good news from the real estate industry for a change?
According to the national Mortgage Bankers Association, people are starting to come back slowly to the housing market. It’s hard to do “apples to apples” comparisons these days thanks to increased sales activity from April 2008 through April 2010, but the association has reported a trend that is somewhat encouraging – purchase mortgages increased three of the four months prior to November.
Furthermore, the association predicts that purchase originations should increase to $615 billion this year from $473 …

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[23 Nov 2010 | 2 Comments | 1,879 views]
Central Arkansas homes sales down in October

Cooperative Arkansas Realtors MLS (CARMLS) released its housing market report today, showing that homes sales in central Arkansas were down again in October.
The issue at hand, of course, is the expiration of the tax credits for first-time and repeat buyers. Those credits expired at the end of April and buyers were initially given until the end of June to close on homes in order to be eligible for a tax credit.
While the “closing deadline” was extended by Congress until the end of September, most buyers who got homes under contract …