NEW YORK (Reuters) - U.S. mortgage applications fell last week as interest rates on some 30-year fixed-rate home loans reached their highest levels in more than 4-1/2 years, the Mortgage Bankers Association said on Wednesday. The Washington-based industry group said its seasonally adjusted measure on mortgage requests fell 1.6 percent to 258.1 in the week ended April 27. Reuters … [Read more...] about U.S. mortgage applications fall as loan rates hit four and a half year peak
New york mortgage bankers association
Share This Story! Let friends in your social network know what you are reading about Facebook Email Twitter Google+ LinkedIn Pinterest Mortgages, other loans get pricier as 10-year Treasury rate tops 3% The rising rate is another sign the era of record-low borrowing costs is fading. That means mortgages will become pricier. Stocks could get hit, too. Sent! A link has been sent to your friend's email address. Posted! A link has been posted to your Facebook feed. 1 Join the Conversation To find out more about Facebook commenting please read the Conversation Guidelines and FAQs Adam Shell, USA TODAY Published 1:53 p.m. ET April 24, 2018 | Updated 4:28 p.m. ET April 24, 2018 CLOSE USA TODAY's Adam Shell tells us what to expect following the increase in interest rates on March 21. USA TODAY CONNECT TWEET LINKEDIN 1 COMMENT EMAIL MORE Little by little, the era of record-low borrowing costs is fading, which means … [Read more...] about Mortgages, other loans get pricier as 10-year Treasury rate tops 3%
When Donald Trump, on his first day as president, halted a planned rate cut for government-backed mortgage insurance, Carlos Fernandez was worried about what it meant for his plans to finally buy a home. He even tweeted a plea for information: For Fernandez, a 30-year-old who lives with his wife in Jersey City, N.J., it was a surprisingly personal brush with politics. “Most of the stuff that Trump was planning on implementing doesn’t actually affect me directly,” he told CBS MoneyWatch. “This is the first time that a president sat down and started making decisions that personally affected me. It was literally an hour after he became president. That was a little scary for me.” The order, one of several Mr. Trump signed within an hour of his inauguration, essentially keeps the cost of government-backed mortgage insurance through the Federal Housing Administration at its current level. But for people like Fernadez, a first-generation American who works … [Read more...] about Trump blocked FHA mortgage-insurance cut — here’s what that means
Last Updated Feb 9, 2010 4:42 PM EST The folks at YouWalkAway.com knew what they were doing when they chose a tag line-"Helping Thousands of Families Nationwide"-and homepage photo: smiling Mom and Dad, bouncing baby, a background of clapboard and greenery. Translation: We'll help you blow off your mortgage-and walk away from the guilt, too. Year of The Walk Away. Technically, it's called "strategic default." But "walk away" is more evocative, carrying a distinct odor of shirkers, deadbeats, people who skip town, turn tail, bail on their long-term financial relationships. And here's the kicker: It's not a last resort! These are people who can afford (easily or otherwise) to keep writing those checks. But they decide that this isn't wise for their financial health. So they bow out and suffer the consequences: The bank takes the house and their credit takes the hit. Whether you're a walk-away, a wannabe, a conscientious objector, or a mere spectator, this is getting interesting. … [Read more...] about Mortgage Default: What Would You Tell the Kids?
Congratulations, New Jersey. Your job growth is barely moving, your unemployment rate is higher than the national average and your state credit rating is facing another downgrade. Add one more distinction to the list: You're the new ground zero for the U.S. foreclosure crisis. New Jersey now has the highest share of residential mortgages that are seriously delinquent or in foreclosure, Bloomberg reports, citing recent Mortgage Bankers Association (MBA) statistics. New Jersey moved ahead of Florida, now in the No. 2 spot, while New York comes in third. Some of the states that previously topped the serious foreclosure list, including Arizona and California, have seen a dramatic improvement after allowing banks to quickly move foreclosures through the system. By now, many states are quite good at whisking foreclosure proceedings along. In Florida, for example, nearly 119,000 homes completed foreclosures over the last year, NJ.com reports. In New Jersey, however, slightly more than 5,000 … [Read more...] about Why New Jersey is ground zero for foreclosures