Tag Archives: mortgage

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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Improving Economy Bumps Up Mortgage Rates

Signs of an improving economy boosted fixed mortgage rates this week, market reports show.According to Freddie Mac, the average rate on a 30-year fixed-rate mortgage was 4.20 percent (0.6 point) for the week ending June 12, an increase of 6 basis points from last week’s report. Last year, the 30-year fixed-rate hovered just below 4.0 […]

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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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Rising Mortgage Rates may Spark Home Sales

Slowly increasing mortgage rates are prompting some prospective buyers to jump off the fence and buy a home.  Rates have risen 1/2 a point to between 4 & 4.25% since setting record lows last fall around 3.5%.  Though many home owners still remember when interest rates during the inflationary times in 1981 & 1982 exceeded […]

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