Banking and Mortgage for Bakersfield Real Estate

Texas Mortgage Market Trends and Overview

Latest Financial Resources - RSS Feed - Fri, 06/06/2014 - 13:57
Texas mortgage rates on fixed and adjustable loans are on an upward trend. The industry is being affected by the downturn in the subprime market. However, the Fed may raise interest rates to curb inflation.

Overview of recent mortgage market trend in California

Latest Financial Resources - RSS Feed - Fri, 06/06/2014 - 13:57
Long term and short term California mortgage rates are currently on a downward trend. The California mortgage market is dominated by 30 year, 40 year and 50 year fixed rate loans and alternative products like Option ARMs and interest-only loans.

Current trends predominant in Florida mortgage market

Latest Financial Resources - RSS Feed - Fri, 06/06/2014 - 13:57
Florida mortgage current trends reflect the nationwide fall in fixed rate mortgages and 1 year ARMs. The subprime market is in trouble whereas the housing market has tried to remain steady with inflation.

Residential and refinance mortgage laws in New York

Latest Financial Resources - RSS Feed - Fri, 06/06/2014 - 13:57
As per the ammendment made on July 7, 1988 in the provisions of New York mortgage law, non-judicial foreclosure has become the alternative of judicial foreclosure.

Florida mortgage laws and their effects on foreclosure

Latest Financial Resources - RSS Feed - Fri, 06/06/2014 - 13:57
In florida mortgage law, in case of a joint mortgage in florida, any one of the joint owners in case of default can accelerate one's share of principal and interest accrued on the mortgage.

Jun 5, Mortgage Rate Trend Report: European Central Bank Cuts Rates

Best Mortgage Rate Blog - Thu, 06/05/2014 - 15:49
Kate's mortgage rates and trend report for the week ending June 5, 2014: Mortgage rates shake out near last week's averages.

But before you get too comfortable, discuss locking interest rates with your loan originator based on this morning's news -- The European Central Bank has cut their rates to a record low 0.15% and announced policy changes that could increase lending.

30 year fixed mortgage rates... averaged 4.14 percent costing .5 in points, UP from 4.12 percent last week. Compare to 3.91 percent this time last year.

15 year fixed mortgage rates... averaged 3.23 percent costing .5 in points, UP from 3.21 percent last week. Compare to 3.03 percent this time last year.

5 year fixed/25 year adjustable mortgage rates... averaged 2.93 percent costing .4 in points, DOWN from 2.96 percent last week. Compare to 2.74 percent this time last year.

Do you get frustrated shopping for the lowest mortgage rates? Click here to avoid borrower remorse!

May 22, Mortgage Rate Trend Report: Low Rates Continue

Best Mortgage Rate Blog - Thu, 05/22/2014 - 14:19
Kate's mortgage rates and trend report: Interest rates for refinancing and home buying continued the 7 week trend of lower rates for the week ending May 15, 2014, thanks to calming language from the Federal Reserve Board members...

30 year fixed mortgage rates... averaged 4.14 percent costing .6 in points, DOWN from 4.20 percent last week. Compare to 3.59 percent this time last year.

15 year fixed mortgage rates... averaged 3.25 percent costing .5 in points, DOWN from 3.29 percent last week. Compare to 2.77 percent this time last year.

5 year fixed/25 year adjustable mortgage rates... averaged 2.96 percent costing .4 in points, DOWN from 3.01 percent last week. Compare to 2.63 percent this time last year.

The flip side to getting a low mortgage rate is to limit how much you pay in fees. Here's what to do When Your Bank is Reluctant to Disclose Mortgage Closing Costs.

May 21, Refinancing My Home to Remove Mortgage Insurance

Best Mortgage Rate Blog - Thu, 05/22/2014 - 02:33
Kristie, a novice at homeownership, asks if it makes sense to refinance at the same rate to remove private mortgage insurance (PMI).

She also asks about rate-and-term vs cash-back refinancing when there is equity in the home. Additionally, my answer to Kristie discusses loan-to-value and assessed vs appraised values.

Read the nitty gritty at Should I Refinance My Home to Get Rid of PMI.

May 17, FHA Refinance Loan: 15 Year vs 30 Year Fixed Rate Mortgages

Best Mortgage Rate Blog - Sat, 05/17/2014 - 13:19
FHA Refinance Loan: 15 year or 30 year fixed rate mortgage... How do you decide which term is best for your refi?

Stacey is trying to decide between a higher interest rate, pricey mortgage insurance but a lower monthly house payment vs a lower rate, cheaper mortgage insurance but a higher payment.

No worries! I give her (and you!) a simple way to make a meaningful decision.

Read more at FHA Refinance Loan: 15 Year vs 30 Year Fixed Rate Mortgages.

May 15, Mortgage Rate Trend Report: Rates at 6 Month Lows

Best Mortgage Rate Blog - Thu, 05/15/2014 - 15:01
Kate's mortgage rates and trend report... Yesterday's mortgage rates fell to new lows, breaking the record for 2014 and shaving off approximately .05% from the average rates for the week ending May 15, 2014...

30 year fixed rate mortgage averaged... 4.20 percent with .6 in points, DOWN from 4.21 percent last week. Compare to 3.51 percent this time last year.

15 year fixed rate mortgage averaged... 3.29 percent with .6 in points, DOWN from 3.32 percent last week. Compare to 2.69 percent this time last year.

5 year fixed/25 year adjustable averaged... 3.01 percent with .4 in points, DOWN from 3.05 percent last week. Compare to 2.62 percent this time last year.

Low interest rates are awesome! But you also must protect yourself against unexpected fees. Learn your 2 defenses to reducing mortgage costs.

May 12, Local Mortgage Help for Struggling Borrowers

Best Mortgage Rate Blog - Tue, 05/13/2014 - 03:40
Michigan homeowners, are you having trouble refinancing your mortgage? Did you lose your job? Were your wages decreased? Whether you live in your home or rent it out, learn your options.

Don't give up on mortgage modification, even if you were turned down or failed trial payments in the past.

When: Thursday, May 15, 2014 from 10:00 am to 8:00 pm.

Where: Suburban Collection Showplace, 46100 Grand River, Novi, MI 48374. Complimentary parking available.

Don't walk away from your home. This meeting helps with short sale and deed-in-lieu of foreclosure too. Learn how to prepare for your free face-to-face meeting with Making Home Affordable housing counselors.

May 11, How to Get Fannie Mae's Help to Modify Your Mortgage

Best Mortgage Rate Blog - Mon, 05/12/2014 - 03:12
If your loan servicer is difficult to deal with during the mortgage loan modification process, did you know Fannie Mae wants to get involved?

Yes, if you have a home loan that is backed by Fannie Mae or Freddie Mac, it's high time to stop putting up with an uncooperative lender!

I'm glad Vanessa wrote me because it reminded me that many homeowners may not know this help is available.

Read how at How to Modify Your Own Mortgage with Fannie Mae Help.

May 8, Mortgage Rate Trend Report: Rates Plunge to 2014 Lows

Best Mortgage Rate Blog - Thu, 05/08/2014 - 14:56
Mortgage rates plunge to 2014 lows! Get 'em while they are hot. Kate's mortgage rates and trend report for the week ending May 8, 2014...

30 year fixed rate mortgage averaged... 4.21 percent with .6 in points, DOWN from 4.29 percent last week. Compare to 3.42 percent this time last year.

15 year fixed rate mortgage averaged... 3.32 percent with .6 in points, DOWN from 3.38 percent last week. Compare to 2.61 percent this time last year.

5 year fixed/25 year adjustable averaged... 3.05 percent with .5 in points, SAME as last week. Compare to 2.58 percent this time last year.

Move on these mortgage rates while they are low! Learn how to compare lenders and avoid borrower remorse.

May 6, Deed in Lieu of Foreclosure: How to Negotiate with Your Lender

Best Mortgage Rate Blog - Tue, 05/06/2014 - 17:11
Ask Kate how to negotiate a deed in lieu of foreclosure with your lender:

Wayne's lender agreed to a deed in lieu of foreclosure after his ex-wife quit paying the mortgage. But now they're requiring $13,000 from Wayne to move forward.

Once Zoie's bank discovered her 2nd mortgage, they stopped processing her deed in lieu application even though the lender on the 2nd will release their interest.

Read about their options at Negotiating a Deed in Lieu of Foreclosure.

May 1, Kate's Mortgage Rate Trend Report: Rates are Lower

Best Mortgage Rate Blog - Thu, 05/01/2014 - 15:14
Kate's mortgage rates and trend report for the week ending May 1, 2014... Lower interest rates are bringing the week to a close due to weaker-than-expected 1st quarter gross domestic product (GDP) numbers.

Topping off the downward trend, the Feds reigned in their speech that often drives up rates regarding bond purchases.

Average 30 year fixed rate mortgage: 4.29 percent with .7 in points, DOWN from 4.33 percent last week. Compare to 3.35 percent this time last year.

Average 15 year fixed rate mortgage: 3.38 percent with .6 in points, DOWN from 3.39 percent last week. Compare to 2.56 percent this time last year.

But Friday's pending job report has the potential to reverse the recent trends. Go to How to Protect Your Locked Rate to learn how to guard your mortgage.

Apr 28, Looking for a Mortgage Lender - Meet Toni Taylor

Best Mortgage Rate Blog - Tue, 04/29/2014 - 01:31
Looking for a mortgage lender in N Palm Beach? You will find the contact info for Toni Taylor at List of Mortgage Companies in Florida!

If you are about to begin the process of shopping for a lender, go to How to Compare Mortgage Lenders and Avoid Borrower Remorse and get started down the right path!

Apr 25, Ask Kate About Your Mortgage

Best Mortgage Rate Blog - Fri, 04/25/2014 - 18:26
After answering Jeana's question yesterday, she sent me this response:

Kate, Thanks for your response to my question regarding appraisal values. We do understand the insurance issue and have brought it to the attention of the homeowners association. The difficulties with other sellers in the association in the future is a concern as without financing options buyers are limited. You have proven that real, knowledgeable people are out there. Sincerely, Jeana

Comments like this mean the world to me! This is the very reason that Ask Kate exists! You can also Ask Kate About Your Mortgage!

Apr 24, Appraisal Discrepancies: Home Buying - Cancelling PMI

Best Mortgage Rate Blog - Thu, 04/24/2014 - 16:53
Appraised Value Discrepancies: Jeana is buying a condominium and finds her two appraisals are $20,000 apart from each other. What gives?

Thomas from Peabody, MA received a letter from his lender regarding appraised values for his PMI cancellation. But he feels it doesn't jive with the Homeowners Protection Act.

Read the rest of their questions followed my answers at Appraised Value Discrepancies: PMI Cancellation and Home Buying.

Apr 24, Mortgage Rate Trend Report: Interest Rates Higher

Best Mortgage Rate Blog - Thu, 04/24/2014 - 15:07
For the week ending April 24, 2014... Although yesterday's rates saw a slight downward tick, overall this week, rates moved higher furthering the recent upward trend.

Be cautious if you are floating and take advantage of small dips in the market to lock in your rate.

Average 30 year fixed rate mortgage: 4.33 percent, UP from 4.27 percent last week. Compare to 3.4 percent this time last year.

Average 15 year fixed rate mortgage: 3.39 percent, UP from 3.33 percent last week. Compare to 2.61 percent this time last year.

How much is too much? Learn about paying discount points to decrease your mortgage rate before you lock in!

Apr 13, FHA Reverse Mortgage Program for Home Buyers

Best Mortgage Rate Blog - Mon, 04/14/2014 - 01:23
Ask Kate about the Reverse Mortgage for Home Purchase Program: The FHA Home Equity Conversion Mortgage (HECM) is most commonly used for refinancing.

Featuring no monthly house payments, the program produces steady income for Senior homeowners.

But few know that Senior home buyers can also take advantage of the program.

Read more at What Is Reverse Mortgage for Home Purchase Program.
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