mortgage

5 housing trends for the next 3 months

Borrowers will pay a price for applying for debt
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Beginning June 1, Fannie Mae requires lenders to check borrowers' credit reports right before closing. If the borrower took on a new credit obligation, the lender will have to recalculate the borrower's debt-to-income ratios.

The rule could cause 11th-hour delays and could even block some loans from being made. Advice: Don't apply for new credit while the mortgage is being processed.


 

 

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Claes Bell

Mortgage rates in Los Angeles

See this week's average rates for the 30-year fixed-rate mortgage, 15-year fixed-rate mortgage, 5/1 ARM and 30-year jumbo mortgage in Los Angeles.  ... Read more

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