The report, “A Profile of Housing and Health among Older Americans,” examined the housing, functional abilities and health status of two groups of individuals: Read the rest of this entry »
Imagine if mortgage shoppers acted like retail shoppers on Black Friday. “The image of potential homebuyers and refinancers waiting in lines at a mortgage banker’s office at 3am is to get a quarter-point savings is certainly an amusing one but one we are unlikely to see,” wrote Keith Gumbinger in the latest Market Trends newsletter.
But while others are cashing in on sizable discounts on everything from big-screen TVs to toaster ovens, mortgage shoppers—whether buyers or refinancers—can be thankful for stable mortgage rates this holiday season.
The Consumer Financial Protection Bureau (CFPB) has issued a new final rule that requires lenders to use the federal agency’s newly redesigned mortgage disclosure forms. The rule will take affect Aug. 1, 2015.
The forms are intended to help borrowers: Read the rest of this entry »
Keith Gumbinger, vice president of HSH.com, began the most recent Market Trends newsletter by comparing mortgage rates to a boat on the water, bobbing up and down “in single- and multi-week swells.”
“Watching mortgage rates lately might make you a little queasy,” wrote Gumbinger, given their constant movement, but the interest-rate waves broke in the right direction last week as products of all stripes saw a decline. Read the rest of this entry »
Customers were more satisfied with mortgage lenders this year than they were last year or the prior year, according to the latest mortgage lender customer satisfaction survey by J.D. Power, a marketing information company in Westlake Village, Calif.
The J.D. Power “2013 U.S. Primary Mortgage Origination Satisfaction Study,” released November 14, found that customer satisfaction with mortgage lenders had improved for the third consecutive year, averaging 771 on a 1,000-point scale in 2013, up from 761 in 2012 and 747 in 2011.
As expected, mortgage rates increased last week thanks to more promising economic news. However, most of that good news came towards the end of the previous week, as last week was more a “mixed bag” of economic reports.
The Fed’s programs to help keep interest rates low are still the only stimulus game in town. These programs of course have limits: refinancing can only go so far and employment gains depend more on demand than the cost, but at least the Fed should be credited for trying to move the growth needle higher over the past several years.
That’s according to lenders who spoke during a panel discussion at the National Association of Realtors (NAR) 2013 Conference and Expo in San Francisco last week. Read the rest of this entry »
Now more than ever, the direction of mortgage rates is largely dependent upon the direction of the economy.
“To some degree, markets are always dependent upon data to provide direction, with stronger or weaker reports adding volatility,” wrote Keith Gumbinger, vice president of HSH.com, in the latest Market Trends newsletter. “In the current environment, this may be exacerbated, since both stock and bond markets are trying to figure out when the Fed may start to exit the arena and position themselves to gain advantage (or limit damage) when this occurs.”
That’s according to the National Association of Realtors (NAR), which recently released its latest annual study of home buyers and sellers, including lots of details about these important first-time purchasers. Read the rest of this entry »