Mortgages Blog

Monday, August 16, 2010 9:56 am
By Holden Lewis · Bankrate.com

The economic calendar is rather light this week. In the mortgage world, this week’s economic calendar highlights come at 8:30 a.m. eastern time on Tuesday, when the feds come out with reports on housing, as well as wholesale prices. The Census will issue its report on housing starts, building permits and housing completions in July.

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Friday, August 13, 2010 3:40 pm
By Holden Lewis · Bankrate.com

I recently caught up with Andrew Schiller, founder of NeighborhoodScout.com, a site that helps homeowners find suitable neighborhoods. The idea is simple: a pair of empty nesters, a married couple with children, and a young single all are likely to have different ideas as to what constitutes a desirable neighborhood. NeighborhoodScout helps them to find

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Thursday, August 12, 2010 3:00 pm
By Holden Lewis · Bankrate.com

FHA-insured home loans are about to get more expensive. If you’re about to get a Federal Housing Administration-insured mortgage, you might want to act before October. But in some situations, you might want to wait. This is complicated, so bear with me. The FHA insures mortgages, and the insurance fund has taken a big hit

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Tags: FHA, home loans
Thursday, August 12, 2010 10:53 am
By Holden Lewis · Bankrate.com

Mortgage rates fell again to another record low in this week’s rate survey, with the 30-year fixed averaging 4.57 percent. Rates haven’t been this low since the mid-1950s. This is the fourth week in a row in which the 30-year fixed either tied or set a record low. A plurality of Rate Trend Index voters

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Monday, August 9, 2010 2:07 pm
By Holden Lewis · Bankrate.com

Do you owe way more than your house is worth because property values went down? Are you on time with your mortgage payments? Are you optimistic and lucky? Is your mortgage not insured with the FHA? Do you have time and energy to spend countless hours on the phone with lenders, jawing with customer service

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Monday, August 9, 2010 7:06 am
By Holden Lewis · Bankrate.com

The economic calendar has a slow start this week, after enduring Friday’s disappointing employment report. In that report, nonfarm payrolls plunged by 131,000 jobs in July, which was worse than expected. The revision for June magnified that month’s job losses, too. With all those lost jobs, the unemployment rate remained unchanged, at 9.5 percent. Was

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Tuesday, August 3, 2010 9:40 am
By Holden Lewis · Bankrate.com

As I noted last week, the Home Affordable Refinance Program is a bust. And I’ve never succeeded in getting a straight answer as to why. In comments from a post last week,  Andy Boyum writes: “HARP is a joke!” He says that, because his loan has mortgage insurance, he can refinance only with his current

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Thursday, July 29, 2010 9:28 am
By Holden Lewis · Bankrate.com

A new advertising campaign will “encourage homeowners who are struggling with their monthly mortgage payments to learn about the Making Home Affordable Program,” according to the federal Housing Department. It’s being done pro bono, so you can’t complain about wasted tax dollars. But, still, doesn’t it seem like the Housing and Treasury departments should concentrate

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Thursday, July 29, 2010 8:31 am
By Holden Lewis · Bankrate.com

It keeps happening, over and over. Mortgage rates hit another record low in Bankrate’s weekly survey, falling to 4.71 percent. The previous record low was 4.74 percent, set July 7 and repeated July 21. For July, the 30-year fixed averaged 4.74 percent. I was talking to a mortgage guy yesterday who expressed amazement that rates have

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Tuesday, July 27, 2010 4:06 pm
By Holden Lewis · Bankrate.com

I’m looking to interview people who have ARMs and would like to refinance — but they’re underwater and can’t refi. Does that describe you? Are you willing to be interviewed and quoted by name and city? Then e-mail me. By the way, I don’t know the solution to this issue of having an ARM and

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