Tag Archives: lenders

Why new slow-it-down mortgage rules may be a good thing…

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Catherine Reagor, The Republic | azcentral.com 1:28 p.m. MST October 8, 2015 If you are looking for a house now, it’s likely going to take a little longer to get a mortgage to buy it. The expected delay is due to a new federal rule that’s supposed to give consumers more protection when they are making one of their […]

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TRID: Into the Great Unknown

Amid all the consternation about the looming TILA-RESPA Integrated Disclosure (TRID) Rule effective date of October 3, one analyst believes that the biggest unknown about TRID is just that—unknown. Until October 3, buyers will use the HUD-1 Settlement Statement containing a good faith estimate for closing the loan that has been in use for 40 years; […]

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FHA to lower cost of mortgage insurance

In an effort to make owning a home more affordable, the Federal Housing Administration will dramatically cut the costs associated with the mortgages it backs. Premiums for FHA mortgage insurance, which is designed to protect the agency in case a borrower defaults on a loan, will be cut from 1.35% of a loan’s value to […]

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Pause in Valley Housing Market

The Phoenix area housing market posted it’s worst February in four years and home prices may stay flat throughout 2014, according to Arizona State University’s latest housing report last week.  Despite the fact that substantially more homes were on the market than a year earlier, prices slipped by 1% from January and demand dropped by […]

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Mortgage Rates Pull Back Further

Freddie Mac’s weekly Primary Mortgage Market Survey shows the 30-year fixed-rate mortgage falling to an average rate of 4.41% for the week ending January 16, down from 4.51% the previous week. A year ago, the 30-year fixed average sat at 3.38%.  The 15 year fixed-rate mortgage averaged 3.45%, down from 3.56% previously. Adjustable rates were […]

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When looking at price increases, location matters!!!

http://www.dsnews.com/articles/amid-regional-gains-metros-present-wide-range-of-price-shifts-2013-06-04 While a wide range of price increases occurred across the nation, the rate of recovery has been mixed over most metropolitan areas.  When looking at the validity of the recovery, performances at the local levels were mixed when considering strength, sustainability and their relative positions as compared with 2006 prices.  It is noted that […]

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Communication is the key to a smooth transaction

   In this technology driven society, actually talking to someone in person or on the telephone has become an anomole.  To save time we often resort to emails or texts and forget that personal interaction sometimes can make things happen faster or more smoothly often saving many misunderstandings or confrontations.  I have been involved in […]

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Women Own Less Mortgage Debt, Less Likely to be Delinquent!!!

http://www.dsnews.com/articles/study-women-own-less-mortgage-debt-likely-to-be-delinquent-2013-05-22 According to a recent Experian study, women lead the pack in how their mortgage debt is managed, even though they generally earn less income (approximately 23% less than their male counterpart).  It seems that men are taking out bigger individual mortgage loans (4.9% higher), but are also having more difficulty paying those loans on […]

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Are Our Rising Home Prices Sustainable?

http://www.dsnews.com/articles/survey-71-of-bankers-say-price-increases-are-sustainable-2013-04-09 It’s great to see home prices rising in Phoenix & surrounding communities, but many homeowners (and buyers) are questioning whether this is sustainable or if we’re looking at something temporary.  Area lenders seem to be more optimistic regarding our housing recovery with 71% agreeing that our consumer health is improving.  This should help buyers […]

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