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Articles tagged with: Mortgage Bankers Association

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[4 Dec 2011 | No Comment | 2,975 views]
Do sellers have an advantage in a buyers’ market?

For the past few years, we’ve heard about how declining housing markets have hurt sellers due to dropping average prices.
There some merit to that point of view – no one likes the idea of a home losing value. However, there are some advantages to sellers even in the buyer’s market that has been in place over the past few years.
Before getting into those advantages, let’s take a look at a few statistics that reveal recent trends in Arkansas. In October, the average price of a home sold in central Arkansas …

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[28 Aug 2011 | One Comment | 2,311 views]
Bankers expect modest increase in purchase mortgages

The national Mortgage Bankers Association is expecting an increase in purchase loans in 2012, but not a large one.
The Association, on Aug. 19, increased its origination forecast for 2011, but dropped if for next year. Still, the trade group expects to see an increase in purchase mortgages next year after a decidedly stormy 2011.
The good news from the latest forecast has to do with total residential mortgage originations. The Association projects a total of $1.1 trillion in residential mortgage originations this year, up $100 billion from earlier forecasts. That boost, …

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[26 Aug 2011 | One Comment | 1,979 views]
Central Arkansas homes sales up, too

Just last week, we at First Arkansas News posted an article showing that homes sales in northwest Arkansas were up in July compared to the same month a year ago but sales prices were down.
The numbers from central Arkansas are in and the results are pretty much the same. Indeed, sales were up considerably in July in Faulkner, Grant, Lonoke, Pulaski and Saline counties in that 716 homes were sold in July — an increase of 21.56 percent over 589 sales a year ago, but 15.47 percent down from 847 …

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[20 Aug 2011 | 7 Comments | 16,314 views]
Low interest rates contribute to increase in refinance loans

The national Mortgage Bankers Association reports that the demand for purchase mortgages has remained little changed throughout the summer, but refinance mortgages are a different breed of cat.
Over the past few months, the demand for refinance mortgages has grown. A lot of it has to do with interest rates. Those dropped to the lowest point this year in the first week of August – the rate on a 30-year, fixed mortgage averaged 4.37 percent on Aug 5 while the rate on a 15-year mortgage was 3.52 percent.
Those rates, the Mortgage …

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[2 Aug 2011 | No Comment | 3,669 views]
Thinking about a mortgage? How much can you realistically afford?

Taking out a mortgage can, in many ways, be a daunting process.
Consumers might wonder, for example, how much they can realistically afford to borrow. How might their payments be influenced by property taxes and mortgage insurance? How much do current interest rates influence mortgage payments? If a potential home buyer brings home, say, $5,000 a month after taxes and spends some of that money on a car payment and utilities, how much of a mortgage can that individual realistically take out in today’s market where both lenders and consumers are …

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[23 Jul 2011 | 4 Comments | 2,986 views]
Home ownership rate falling to sustainable levels

According to a report from the national Mortgage Bankers Association’s Research Institute for Housing America, home ownership rates in the country hit a high of 69.2 percent in 2005 and have fallen steadily since.
In fact, the Institute said home ownership rates had fallen to 66.2 percent by the first quarter of this year and are projected to go lower and may eventually settle in at 2000 levels.
That doesn’t sound great, does it? The truth of the matter is, the home ownership rate in 2000 was one of the highest in …

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[30 May 2011 | One Comment | 5,714 views]
Mortgage delinquency rates down in first quarter

The national Mortgage Bankers Association released some good news on May 19 – delinquency rates dropped in the first quarter of the year.
Specifically, the national delinquency rate – which is a measure of both how many mortgages are in foreclosure and/or are 90 days behind in payments – was 8.32 percent at the end of the first quarter. That’s on par with rates in the fourth quarter of 2010 and 1.74 percent down from the rate posted in the first quarter last year.
Why should home owners and potential sellers care? …

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[14 May 2011 | One Comment | 2,365 views]
Sometimes it’s good to not be in the top 10

While Arkansans do and should love the attention that comes with placing near the top in a slew of highly-visible national lists, there’s one on which the Natural State doesn’t appear and thank goodness – top 10 states for mortgage fraud.
The LexisNexis Mortgage Asset Research Institute released its 13th Periodic Mortgage Case Fraud Report this month. The state that tops that list is Florida, which has ranked first for reported incidents of mortgage fraud since 2006. Florida was followed on the dubious list by New York, California, New Jersey, Maryland, …

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[7 May 2011 | 4 Comments | 3,312 views]
Stevens intriguing choice to head up Mortgage Bankers Association

The national Mortgage Bankers Association last month named former Federal Housing Administration (FHA) head David H. Stevens as its chief executive officer – an intriguing choice on at least a few levels.
As the head of the FHA, one of Stevens’ duties was to deal with an issue that has been tossed around a lot over the past few years – risk. In short, is a lender making a good bet a home buyer will pay off a mortgage if that loan is written?
Stevens ought to know a thing or two …

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[1 May 2011 | One Comment | 6,970 views]
Commercial originations up in 2010

The residential real estate market was still in recovery mode last year, but the national Mortgage Bankers Association reports that commercial real estate showed signs of improvement in 2010.
Actually, commercial markets improved quite a bit, according to the Association. In 2010, bankers reported $118.8 billion in closed commercial loans – up 44 percent from 2009. Multifamily accounted for the largest volume at $48.9 billion while offices were the next highest at $22.6 billion in originations.
In short, it appears there is a significant increase in demand for apartments. That should come …