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“Occupy” movement inspires consumers to ditch big banks

November 3, 2011

Consumer outrage over monthly service fees for using debit cards is causing many to jump ship to smaller financial institutions free of fees. The Occupy Wall Street protests and bank consumers’ ire are sending a message to financial institutions concerned with expanding profits at the expense of their struggling customers.  The NBC affiliate in San Diego reports that [...]

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Pre-qualifying deadline looms for HUD emergency homeowner loan program

July 5, 2011

HUD’s Emergency Homeowners’ Loan Program (EHLP) assists homeowners facing foreclosure caused by economic or health conditions. Interest-free loans can be used for bringing mortgage payments current, and reinstating mortgage loans from foreclosure. EHLP provides for loan forgiveness for homeowners occupying their homes for five years after the loan program has been completed.
HUD is working with [...]

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Debt consolidation: using your home as collateral

June 21, 2011

Credit card debt often carries high interest rates that continue adding to balances owed when you’re making minimum payments. Ending the cycle of paying your bills only to find balances growing requires a way to pay off high cost debt. Refinancing your home or taking a home equity loan can help, but there are risks.
Home [...]

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Today’s mortgage rates as low as 3.15 percent

March 17, 2011

Fear in the marketplace and good economic news combined this week to improve mortgage rates. Investors rushed to purchase safe securities in the wake of Japan’s tragedy. Fear in the marketplace causes investors to move their money into safe places. Mortgage Backed Securities (MSB) are considered very safe investments. When tradgedy strikes, it is often improves mortgage rates.  In [...]

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Low mortgage rates and affordable homes cause spike in loan applications

March 12, 2011

The national average for 30-year fixed-rate mortgage rates remained below 5.0 percent again this week. Combined with record breaking home affordability, mortgage loan applications have spiked.
Here are the national average conforming mortgage rates for this week, according to the Freddie Mac Primary Mortgage Market Survey (PMMS):
30-year fixed-rate – 4.88 percent with 0.7 percent points
15-year fixed-rate [...]

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Free mortgage quotes at rates of 3.23 percent and lower

March 5, 2011

It’s time to refinance your existing mortgage loans. Mortgage rates have hit new lows for the year. The most recent mortgage rate survey by Freddie Mac shows the national average for a 1-year fixed-rate, conforming loan amount at 3.23 percent with 0.6 percent points and 2.76 percent margin.
National averages for conforming loan amounts
As reported [...]

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A great week for mortgage loan rates – 4.95 percent and lower

February 27, 2011

Two weeks ago, mortgage loan rates crept above 5.0 percent for the first time in 2011. Mortgage loan orignators and consumers seeking mortgage financing all wondered if the trend would continue upward. This week, a mixed bag of economic news has caused mortgage loan rates to drop below the 5.0 percent mark again,  making it a great [...]

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Historically speaking, exactly how low are today’s mortgage rates?

February 19, 2011

You may have heard again and again that it is a good time to refinance. But, do you really understand why?
Following are some interesting historical facts about mortgage rates that will prove how today’s mortgage rates offer an exciting possibility to refinance. After reading these facts, you will likely want to contact a professional for [...]

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Mortgage quotes spike above 5 percent

February 13, 2011

Not since May 6, 2010 has the national average for a 30-year fixed-rate conforming mortgage been at or above 5 percent. This week’s Freddie Mac Primary Mortgage Market Survey (PMMS) reported a 0.24 percent jump over the same product just one week prior. That is an extraordinary spike upward. Normally, mortgage rate movement week over [...]

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Refinance share of mortgage applications dip according to the MBA

February 5, 2011

When mortgage loan applications slow down, even slightly, mortgage loan officers start promoting deals to get the volume back up. The best time to refinance is while mortgage rates are low and the loan officers are boosting volume. These are precisely the conditions that exist this week.
According to the Mortgage Banker’s Association (MBA), “The refinance [...]

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