mortgage news: Mortgage Rate Issues to Keep an Eye on - 12/18/12 01:41 PM
With the presidential election behind us, many new homeowners are wondering how the President’s reelection will impact mortgage rates and the housing market in general. And while we can’t predict what Congress and the President will do, we can keep an eye on some areas of mortgage and real estate as we get through these next four years.
Whether Edward DeMarco will be kept on as head of the Federal Housing Finance Agency is still to be seen. He over sees Freddie Mac and Fannie Mae, and has been criticized in many democratic circles for his refusal to enforce many of … (2 comments)

mortgage news: Mortgage Rates Continue at Record Lows - 11/14/12 05:20 AM

Mortgage rates continue at record lows as the rates hit a new low of 2.66% for the average 15-year, fixed rate mortgage. This is one of the more popular loans for homeowners who want to refinance and lower their rate and pay off their loan more quickly.
The interest rate on the 30-year, fixed rate mortgage is at 3.37%. This loan type is popular for first-time homebuyers who can’t afford the higher payment of the 15-year loan.
After the Federal Reserve announced plans in September to buy $40 billion each month of mortgage-backed securities until the economy recovers, the rates … (0 comments)

mortgage news: Principle Reduction Offered to 200,000 Bank Of America Homeowners - 05/10/12 07:09 PM
A principle reduction will be offered to over 200,000 Bank of America homeowners who are struggling with their mortgage payments. It’s an offer that sounds too good to be true, but Bank of America is doing it anyway. They will mail out letters with the principle reduction offer to their struggling homeowners this week. So, be on the lookout. If you toss it, you won’t be eligible. Some borrowers could get as much as $150,000 reduced from their mortgage balance.
The Bank of America principle reduction program is part of the $25 billion settlement that was reached this year between state … (2 comments)

mortgage news: Bank of Utah Officials Caution Consumers to Check Broker’s License - 02/02/12 04:57 PM

 
The Bank of Utah officials are now cautioning potential homebuyers and homeowners who want to refinance to check the license of their broker. Back in mid-December, the Utah Division of Real Estate sent a final alert to mortgage brokers to meet new federal SAFE Act requirements, which includes licensing with the federal Nationwide Mortgage Licensing System (NMLS) by year end. Brokers must also complete all testing and education requirements. Now that the deadline has passed, the NMLS data base is being compiled. However, it will be some time before consumers will have access to the database for mortgage companies. … (1 comments)

 
Erika Rogers, St George Utah Real Estate & local info. (Re/Max First Realty) Rainmaker large

Erika Rogers

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