Mortgage Choice has notched up a record number of loan approvals and expects to go from strength to strength in 2016 as interest rates continue to fall. Chief executive Michael Russell said the company was focused on growth and increasing its market share, seeking to take advantage of the healthy housing market. Property prices, auction clearance rates and housing finance commitments remained …
Mortgage interest rates rose to their highest level since the beginning of this year, and mortgage volume reacted in the opposite direction. Loan applications fell 13.2 percent for the week ending February 13, according to the Mortgage Bankers Association. Total volume is still 14 percent above where it was a year ago, when interest rates were considerably higher.
Gearing up to apply for your first mortgage is equal parts exciting and terrifying. To calm your (understandable) jitters, you've probably done a lot of reading about interest rates, points, homeowners association fees and the like. After all, knowledge is power.
President Obama today announces a new executive action today designed to make it easier for lower-income Americans to purchase homes, but some experts are worried that increasingly loose housing policy …
Average interest rates on fixed-rate mortgages fell this week to their lowest level since May 2013, Freddie Mac said Thursday.
Fixed interest rates for 30-year mortgages remain well below 4 percent, and industry observers predict they won't break 5 percent by the end of 2015.
Closing out a year of surprisingly low mortgage interest rates, the average rate for a conventional 30-year home loan was 3.87% this week, Freddie Mac said, up slightly from 3.83% a week ago.
The 30-year fixed-rate average rises for the second week in a row, but ends the year 66 basis points below where it started.
For generations of U.S. homeowners, the tax deduction on mortgage interest has been a sacrosanct loophole that no one in Congress dare touch. But the collapse in interest rates is producing a bizarre and, so far, underappreciated result. It is making that loophole less and less valuable.
Low interest rates mean that the mortgage interest tax deduction no longer benefits many middle-class homeowners.