Fannie Mae raised the bar for mortgage applicants this past weekend. Getting approved for a home loan just got harder.
In its official announcement, Fannie Mae says the updates minimize long-term lending risks. If that’s the case, this won’t be the last guideline change Fannie Mae makes...
Mortgage markets worsened for a second consecutive week last week amid debt default concerns and stronger-than-expected economic data. Dollars left the bond market and mortgage rates suffered.
After re-reaching an all-time low December 1, mortgage rates have since rolled back to mid-November levels.
Rates...
For many American homeowners, interest paid on a mortgage is tax-deductible in the year in which it was paid.
Knowing that, eligible homeowners can increase their 2009 tax deductions just by making their January 2010 mortgage payment before the end of the year.
By paying in 2009, the mortgage...
Mortgage markets finally reversed course last week, selling off with fury and causing prices to plummet.
When bonds prices fall, rates rise.
The action broke a multi-week winning streak, much to the disappointment of rate shoppers everywhere. Rate hikes came in stages.
First, early in the week, mortgage...
