Many homeowners in Arizona and California will find out if they will be able to refinance their “upside down” homes tomorrow. The Initial “HARP” Home Affordable Refinance Program was rolled out in 2009. It was designed to help refinance “underwater” homeowners that owe more than their homes are worth. Since the program had very little success… Continue Reading
Tag Archives: Arizona Mortgage Rates
What’s Ahead For Mortgage Rates This Week : February 22, 2010
Mortgage markets had a terrible, holiday-shortened week last week as Wall Street responded to worse-than-expected inflation data and action from the Federal Reserve. Mortgage bonds sold off with force, causing mortgage rates to rise for the second week in a row. Last week was a bad week to float a mortgage, to say the least…. Continue Reading
It’s Getting Harder to Get Approved for a Home Loan
The economy’s improving but lending standards are not. Nationally, banks are making mortgage approvals harder to come by. Underwriting guidelines are tightening. The data comes from the Federal Reserve’s quarterly survey to its member banks. The Fed asks senior bank loan officers around the country to report on “prime” residential mortgage guidelines over the most… Continue Reading
Housing Starts Jump; Home Sellers Lament.
Housing Starts jumped last month as builders got back to business. It’s a telling sign for the economy, but bad news for next season’s sellers. With more homes coming online, home prices may be slow to rise nationwide. A “Housing Start” is a privately-owned home on which construction has started. In November, starts rose by nearly… Continue Reading
What’s Ahead For Mortgage Rates This Week : August 24, 2009
Mortgage markets finished the week unchanged last week but don’t let that make you think the markets were flat. It was a bumpy five days and rates were volatile. Friday was the worst day of the week by far. An all-day deterioration, sparked by better-than-expected housing data, caused mortgage rates to tack on a quarter-percent by the noon… Continue Reading
Mortgage Rates In Arizona Rose By More Than 1/2 Percent Wednesday
Conforming mortgage rates rose by 0.625 percent Wednesday. Yes, you read it right. Zero-point-six-two-five percent. The surprise surge in pricing started shortly after 1:00 P.M. ET, then continued all the way until the market’s closing. It was the sharpest one-day surge in mortgage rates in recent history. Perhaps ever. For mortgage rate shoppers swept up in… Continue Reading