Despite the economy’s improvement and prodding from Congress, banks don’t seem ready to open their purse strings just yet.
Nationally, mortgage approval standards are tightening.
The data comes from a quarterly survey the Federal Reserve sends to its member banks. The Fed asks senior bank...
Posted by
yourmortgageplanner on Oct 26, 2009 in
FHA |
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According to the government, home values edged lower last month.
The Federal Housing Finance Agency‘s Home Price Index report shows values down by 0.3 percent from the month prior – the index’s first down month since April.
The Home Price Index is based on the value of homes financed...
As reported by the government, home prices are rising nationwide, up 0.3 percent in July.
Furthermore, versus November 2008, the Home Price Index has clawed back to unchanged.
The housing market appears to be holding its own.
However, we have to be careful about putting our full faith in the Federal...
Mortgage Rates continued their nine (9) day accent posting 375bp for the week. Friday was the only negative day with the FNMA 30 YR 4.5% giving up only 9bp on a quiet day before the Holiday weekend. The positive gains can be attributed to the negative pull back in the equities market. The DOW gave up 1%...
As a reminder, Fannie Mae is rolling out new lending guidelines Tuesday, September 1, 2009.
Starting next week, being approved for a home loan could be much more difficult.
The new rules mark the first major underwriting update since April of this year. The changes are mostly geared at fraud...
