The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 8.6 percent compared with the previous week. The Refinance Index decreased 4.0 percent from the previous week to its lowest level since July 29, 2011. The seasonally adjusted Purchase Index increased 8.2percent from last week to its highest level since August 12, 2011.
Mortgage Application Volumes in U.S. Dip 1.2%
November 24, 2011 by Isabelle Bolliger · Leave a Comment
According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 18, mortgage applications decreased 1.2 percent from one week earlier (which included the Veterans Day holiday).
Mates urged to club together to get that elusive first mortgage
July 9, 2011 by Isabelle Bolliger · Leave a Comment
Lenders have been urged by housing minister Grant Shapps to offer “mates mortgages” to encourage more first-time buyers (FTBs) into the market.
Pooling together funds to meet the current deposit demands could be an ideal way to get a first foot on the ladder. But is buying with a friend really a good idea?
For anyone unable to access the Bank of Mum and Dad, the current market is a minefield of lukewarm lenders and hefty deposits. The average age of FTBs buying without help from family has now hit 37, according to government estimates, and the average deposit reached £26,582 in the first quarter of 2011, according to the Council of Mortgage Lenders (CML).
Reverse Mortgage Information Shows How Heirs are Affected by a Reverse Mortgage
April 14, 2011 by Jesse Spivakovsky · Leave a Comment
Whenever making a big financial decision, it is good to consider what will happen in the long run. Many reverse mortgage borrowers worry about how their actions now will affect their heirs in the future. This perception has fueled a lot of fear and bad press associated with reverse mortgage information. This article will explore the three main options available to reverse mortgage heirs.
What is a Reverse Mortgage?
In order to be eligible for a reverse mortgage, the borrower(s) must be at least 62 years of age and own their home. If they meet these requirements and use the home as a primary residence, they will have the opportunity to convert a portion of their equity into usable cash. Continue reading…
California Aims to Keep Reverse Mortgage Users on Track
April 4, 2011 by Jesse Spivakovsky · Leave a Comment
New government research shows that more than 30,000 U.S. homeowners are in default on their reverse mortgages and are at risk of losing their homes. Homeowners cannot afford to pay their property taxes and insurance which is causing an overwhelming amount of homeowners to be at risk of losing their homes. To help with this potential foreclosure disaster, organizations have teamed up with the government to help reverse mortgage defaults from increasing.
Non-Profit Organizations Counsel California Reverse Mortgage Holders
From now until April, a non-profit housing counseling organization called CreditAbility is working with the government to provide free counseling to California reverse mortgage borrowers who are at risk of going into default. Continue reading…