Tag Archives: mortgage

Mortgage Volume Rises Slightly — New York Real Estate

Mortgage applications were up 0.3 percent last week compared to the previous week on both a seasonally adjusted basis and on an unadjusted basis, according to the Mortgage Bankers Association weekly survey. The increase was in refinances, which rose 0.9 … Continue reading

Posted in commercial real estate, Foreclosures, general, Home Buyer Tax Credit 2009, Home Renovations, Housing Market News Update, mortgage, New York Real Estate, Short Sales | Tagged , , , , , , , | Leave a comment

Defaults Could End Up Being a Boon

The increasing willingness to abandon home ownership in favor of renting could, in a counterintuitive way, be an important step in the economic recovery, some analysts say. The U.S. home ownership rate has declined to 67.6 percent as of September, … Continue reading

Posted in Foreclosures, Housing Market News Update, mortgage, New York Real Estate | Tagged , , , , , , , , , , , , | Leave a comment

New FHA Guidelines Could Aid Condo Sales

New Federal Housing Administration condo-loan guidelines that took effect Dec. 8 could make it much easier for condo buyers to get a loan. Under previous guidelines, half the units in a new condo development had to be sold before the … Continue reading

Posted in commercial real estate, general, Housing Market News Update, mortgage, New York Real Estate | Tagged , , , , , , , , , , , | Leave a comment

IRS Sets New Rules for Tax Credit

The IRS has spelled out guidelines for eligibility for the home buyer credit when co-borrowers purchase a property. When a home-owning parent of an adult child co-signs for a mortgage and both names appear on the note, the IRS says … Continue reading

Posted in Foreclosures, general, Home Buyer Tax Credit 2009, Home Renovations, Housing Market News Update, mortgage, New York Real Estate | Tagged , , , , , , , , , | Leave a comment

Refinancing Drives Mortgage Activity

Mortgage activity rose last week to the highest level in about two months, mainly from borrowers locking in low mortgage rates by refinancing, the Mortgage Bankers Association said on Wednesday. Nearly three of every four loan requests last week was … Continue reading

Posted in Foreclosures, general, Housing Market News Update, mortgage, New York Real Estate | Tagged , , , , , , , , , | Leave a comment

Option-ARM Borrowers Facing Resets

About 93 percent of option-ARM buyers chose to pay a minimum amount less than the interest due, according to a report released last week by Standard & Poors. That means that nearly all of the 350,000 option-ARM borrowers now owe … Continue reading

Posted in Foreclosures, general, Housing Market News Update, mortgage, New York Real Estate, Short Sales | Tagged , , , , , , , , , , | Leave a comment

30-Year Rates Hit Record Low

The average interest rate for 30-year mortgages has fallen to the lowest level since Freddie Mac began compiling its weekly survey in 1971, declining to 4.71 percent this week from 4.78 percent a week ago. Rates also were more attractive … Continue reading

Posted in commercial real estate, Foreclosures, general, Home Buyer Tax Credit 2009, Housing Market News Update, mortgage, New York Real Estate, Short Sales | Tagged , , , , , | Leave a comment