Category Archives: Home Equity

Mortgage Rates Move Up to New 2015 High

Fixed mortgage rates reached their highest level so far in 2015 during the week ended May 28th, according to the Primary Mortgage Market Survey of Freddie Mac. The average rate for a fixed-rate mortgage with a 30-year term moved up

Growing Criticism Over the New CFPB Mortgage Tool

Soon after its launching, the new mortgage tool of the Consumer Financial Protection Bureau receives extensive criticism from an increasing number of professional organizations including the Mortgage Bankers Association, the National Association of Mortgage Brokers and the Community Home Lenders

Falling Demand for Mortgage Loans


The Mortgage Bankers Association reported a drop in mortgage applications of 3.3% during the week ended December 12th compared to the previous week. The volume declined on a seasonally adjusted basis even though the mortgage rates remained at low levels.

Fewer First-Time Home Buyers Using FHA Mortgages

mortgage interest rates

The Federal Housing Administration (FHA) backed 480,000 mortgage loans issued to first-time home buyers in the 2014 fiscal year according to data from the Department of Housing and Urban Development from October 2014. The first-time home buyer loans accounted for

Mortgage Loan Limits for 2015 Announced by FHFA

mortgage (1)

The Federal Housing Finance Agency has published the limits which define the maximum size of the conforming mortgage loans that can be acquired by Fannie Mae and Freddie Mac in 2015. In most of the United States, the limits for

Slight Increase in Mortgage Originations in the Third Quarter


Mortgage originations in the United States rose by 0.4% in the third quarter of 2014 to $337 billion, according to the Federal Reserve Bank of New York. The data was presented in the Quarterly Report on Household Debt and Credit.

Mortgage Applications Increase Once Again

mortgage (1)

There was an increase in the mortgage applications of 3.8% on a seasonally adjusted basis in the week ending October 3rd compared to the previous week, according to the weekly survey of the Mortgage Bankers Association. The was the first

Mortgage Loan Age Higher Than Ever


The average age of an outstanding mortgage loan in 2014 is 54 months, according to the Mortgage Monitor report of Black Night for August. The report states that this is the highest outstanding mortgage age to date. The mortgage loans

Home Equity Conversion Mortgage Program Audit Reveals Non-Compliance


A recent audit of the Home Equity Conversion Mortgage program (HECM) which is administered by the U.S. Department of Housing and Urban Development (HUD) showed that 86% of the participants covered by the audit were not in compliance with the

Slight Decline in Mortgage Rates According to Zillow

mortgage applications

The average interest rate of a 30-yar fixed-rate mortgage is 4.08%, according to Zillow Mortgage Rate Ticker data presented on September 30th 2014. It dropped down by 5 percentage points from the previous week when it was 4.13%. The average

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