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Mortgage Rates & Trends: Mortgage Blog
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View the lowest rates we have to offer.
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First Time Homebuyer Tax Credit Cost $16.2B
According to reports from the IRS, via Housingwire.com, the total bill for the first time homebuyer tax credit is $16.2 billion through July. An additional $7.3 billion was spent on interest-free loans and other related stimulus. The Government Accountability Office estimates that when it is all said and done, we will spend $22 billion on [...]
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Jumbo Mortgage Loan Rates at 4.875%
If you are planning to buy a luxury home in the heart of New York City, you may need a jumbo mortgage loan versus a conventional mortgage loan. A jumbo mortgage loan is a loan amount that exceeds the conforming loan limit set by Fannie Mae and Freddie Mac. With the mortgage rates declining, the [...]
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FHFA Outlines New Housing Goals For Fannie and Freddie
Today the Federal Housing Finance Agency released a list of its new housing goals for mortgage giants Fannie Mae and Freddie Mac, which are under the conservatorship of the FHFA. Fannie and Freddie were seized by federal regulators in 2008 to avoid their insolvency. Since that time, $150,000,000,000 of taxpayer money has been used to [...]
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Qualifying For Mortgage Loans Getting Easier, Bank Regulators Say
Although mortgage requirements remain tight, you might find qualifying for a mortgage slightly easier. While bank examiners admit that qualifying for a mortgage and other types of loans can still be difficult, they’re beginning to see signs that lenders are easing their loan standards. Using a mortgage qualification calculator or a mortgage payment calculator is [...]
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Increase in First Time Mortgage Delinquencies Could Lead to More Foreclosures
According to a report on CNN.com, the number of first time mortgage delinquencies is increasing. 3.51 percent of borrowers were 30 days delinquent in the Q210, up from 3.31 percent in Q110. This could be the first signal that there is another wave of foreclosures on the way. The first wave of foreclosures appears to [...]
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Title Insurance Premiums Decline Amidst Weak Home Sales
According to an article from Housingwire.com yesterday, title insurance premiums declined across the board in the second quarter of 2010, decreasing 8.5 percent on a year-over-year basis. This is a result of the decreasing number of home purchases that are occurring. Sometimes title insurance is purchased during a mortgage refinance, although such sales generate far [...]
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Today’s Mortgage Rates at Total Mortgage for Friday, September 3, 2010
Friday has finally arrived! Before you go away for the long weekend, take a look at the record low mortgage rates that are available at Total Mortgage today. Mortgage rates are right near all time lows, and many saavy borrowers are taking advantage of the opportunity to lock in some of the best rates in [...]
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Pending Home Sales Up in July
This morning the National Association of Realtors released its Pending Home Sales Index. The index was up slightly, increasing 5.2 percent for the month of July, but still nearly 20 percent below the level it was at in July 2009 (and if you recall, homes were not exactly flying of the shelf back then, either). [...]
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Do You Know If You Have A Fixed-Rate Or Adjustable-Rate Mortgage?
Homeowners are smarter about their mortgages than in the past. Only 8 percent said they don’t know if they had a fixed-rate mortgage, an adjustable-rate mortgage or a more unusual type of loan, reported a poll commissioned by BankRate. If that sounds bad, consider that two years ago 26 percent of borrowers said they didn’t [...]
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Fixed Mortgage Rates in Newark, New Jersey
Total Mortgage is currently offering some of the lowest mortgage rates in Newark, New Jersey. Newark is the largest and the second most diverse city of New Jersey. With the prices of homes declining, Newark has become a buyer’s market and demand for fixed rate mortgages are rising. Total Mortgage is here to help your [...]
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