Mortgages Blog

Tuesday, May 25, 2010 9:11 am
By Holden Lewis · Bankrate.com

You should lock soon — like, in the next day or two — if you want to secure a rock-bottom mortgage rate. I said this yesterday and I dislike repetition. But this is important. Mortgage rates are extremely low right now. Time to lock, if you’re close enough to the closing date that you don’t

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Monday, May 24, 2010 10:53 am
By Holden Lewis · Bankrate.com

Home resales were 22.8 percent higher in April than they were 12 months before, according to the National Association of Realtors. Previously owned homes were resold in April at a seasonally adjusted annual rate of 5.77 million units, according to the National Association of Realtors. A year before, they were sold at a rate of

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Monday, May 24, 2010 9:08 am
By Holden Lewis · Bankrate.com

We get some juicy economic reports this week that might not have a ton of effect on mortgage rates, but will let us know about the state of the housing market and what’s going on with economic growth and inflation. Today we get the April report on house resales, also known as existing home sales.

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Friday, May 21, 2010 10:44 am
By Holden Lewis · Bankrate.com

I wish I could say that I feel confident that Congress will protect mortgage borrowers when the House and Senate eventually reconcile on financial reform. But the way things are going, it looks like consumer protection is an afterthought. Almost a year ago, the Obama administration asked Congress to require lenders to offer “plain vanilla”

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Thursday, May 20, 2010 9:29 am
By Holden Lewis · Bankrate.com

Mortgage rates fell to a record low level this week, I explain in the weekly mortgage analysis. In the 25-year history of Bankrate’s weekly survey, the 30-year fixed has never been this low. Bankrate’s benchmark 30-year fixed dropped below 5 percent for the first time, settling at 4.96 percent. Mortgage rate records before the mid-1980s

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Wednesday, May 19, 2010 9:20 am
By Holden Lewis · Bankrate.com

Inflation was practically nonexistent in April, according to the Consumer Price Index. That should spell good news for mortgage rates, which already are benefiting from turmoil in Europe. The core CPI, which excludes food and energy, was unchanged in April. The overall CPI showed prices falling 0.1 percent because of substantial declines in the prices

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Tuesday, May 18, 2010 9:32 am
By Holden Lewis · Bankrate.com

Wholesale prices rose faster than expected in April. This might not be enough to force an increase in mortgage rates, but it’s something to be concerned about. The core Producer Price Index rose by 0.2 percent in April, according to the Department of Labor. The consensus prediction had been a rise of 0.1 percent. With

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Tuesday, May 18, 2010 9:21 am
By Holden Lewis · Bankrate.com

Housing starts were way up in April, to a seasonally adjusted annual rate of 672,000, according to the Census. That’s a 41 percent increase over the pace of housing starts in April 2009. Building permits were issued at an annual rate of 606,000 units, an increase of about 16 percent over April 2009. The increase

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Tags: housing
Tuesday, May 18, 2010 9:16 am
By Holden Lewis · Bankrate.com

Who do you call when you have trouble paying the mortgage? NeighborWorks America has produced some funny ads urging people to call the HOPE hot line. You can find the ads here: http://www.nw.org/network/newsroom/pressReleases/2010/netNews051310.asp. I prefer the one called “Villain.”

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Tags: mortgage
Monday, May 17, 2010 1:23 pm
By Holden Lewis · Bankrate.com

For mortgages, the biggest items on this week’s economic calendar happen Tuesday and Wednesday. Both days bring measurements of inflation. Unexpectedly high inflation could cause mortgage rates to rise. Tuesday morning the Labor Department releases the April Producer Price Index, an indication of wholesale prices. Briefing.com’s economic panel guesses that the report will say core

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