What Will Mortgage Rates Do In 2013?

No one knows for certain what rates will do day to day. We can, however, make educated predictions based on the history of rates. We all know rates have been low; historically low, even! Not all good things last forever though. Don’t panic! While we expect these historically low rates to come up some; we do not expect to see the 7%+ rates to return any time soon. Whether you are a homeowner seeking to refinance, a home buyer or a renter, we should plan for slightly higher housing costs this winter. Certain mortgage fees are rising, especially for those with small down payments. Luckily for borrowers, low mortgage rates are still around, but they only have one way to go this year, and that’s up. This isn’t the time to wait for a better deal....

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HARP 2.0 – What Is It?

For much of the past year, mortgage rates have been at or near record low points. Unfortunately, many homeowners have been unable to take advantage of these rates due to declining home equity. Many homes have lost significant amounts of value since the housing market peaked in 2006. As a result, many homeowners now owe more on their mortgage than their home is worth (this condition is known as being “underwater” or “upside-down” on one’s mortgage). Homeowners who lack equity in their homes are frequently unable to meet the loan-to-value (LTV) ratios required by lenders in order to refinance their mortgages. These borrowers may be missing out on thousands of dollars worth of savings. In response to this situation, the government...

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What’s Ahead For Indiana Mortgage Rates This Week : January 24, 2011

What’s Ahead For Indiana Mortgage Rates This Week : January 24, 2011

Mortgage markets worsened last week in a holiday-shortened trading week. As the body of U.S. economic data continues to show slow, steady improvement, Wall Street is becoming a net-seller of mortgage-backed bonds.¬†As a result, conforming mortgages rates in Indiana are rising. This is why conforming and FHA mortgage rates rose last week in Indiana. Existing home supplies plunged to a 2-year low in December, and unemployment claims dropped more than expected, giving hope for the U.S. economy in 2011. This week, that trend may continue. There’s a lot of news set for release. The biggest story of the week is Federal Open Market Committee’s 2-day meeting. Scheduled for Tuesday and Wednesday, the FOMC’s meeting is the first of its 8 scheduled...

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