With 2008 having been an election year, it has been convenient to levy all blame for our country’s current economic condition on our nation’s presidential administration for the last eight years. However, a significant portion of the fiscal woes now plaguing both Wall Street and Main Street originated well before the current administration ever set foot in the White House. (more…)
Quicken Loans Mortgage News. Want to start off the New Year with some good news? (We thought so.) If your New Year’s resolution centers around buying a home, there are THREE big things going on that you should know about. The home buying stars have aligned, and they’re telling you to take advantage. Low interest rates, low home prices and low down payments on FHA loans are behind it!
Undaunted by the holiday season, consumers continued to apply for mortgages in record numbers last week, according to the latest Weekly Mortgage Applications Survey, released today by The Mortgage Bankers Association (MBA).
The cost of funds index increased around 3 basis points in November 2008 from October, an announcement from the Federal Home Loan Bank of San Francisco said. The increase in the index was lower than the 36 BPS jump the prior month. COFI, however, was around 102 BPS better than November 2007. (more…)