Apply Online Today!

Zip Code:
Loan Purpose:



Mortgage News for Thursday - February 10, 2005

More Mortgage News
• US 30-year mortgage rates lowest since early April
• Mortgages: Two sides to appraisal technology debate
• Mortgage Lenders Chafe at Service Fee
• Money minute: Don't ignore rising interest rates
• Housing market to 'stay flat'
• U.S. economy seen growing 3.6 percent in 2005
• Hispanics target of ‘predatory' mortgage loans, study says
• Many Homebuyers Choosing Adjustable Rate Mortgages
• California's Housing Affordability Index at 19 percent in December
• Rate Reprieve for Subprime Mortgage Lenders
Mortgage News
US 30-year mortgage rates lowest since early April - 2005-02-10
Interest rates on U.S. 30-year mortgages dropped to their lowest levels since early April as weaker than expected U.S. jobs market data in January helped push bond yields lower, reducing the cost for consumers buying a home, mortgage finance company Freddie Mac said on Thursday.

U.S. 30-year mortgage rates decreased to an average of 5.57 percent in the week ending Feb. 10 from 5.63 percent a week earlier. It marked the lowest level for 30-year mortgages since they averaged 5.52 percent in early April 2004.
Read the full story at Reuters
 
Mortgages: Two sides to appraisal technology debate - 2005-02-10
Paul Robertson, 31, will spend 15 years in an Arkansas prison for manipulating real estate appraisals on properties in Benton, Ark. Robertson's scheme was using appraisal software to defraud lenders to grant home loans on empty lots.

The most common appraisal technology tools are automated valuation models, known as AVMs, which jumped in usage during the mortgage refinance boom of the last few years.
Read the full story at Inman.com
 






down payment
types of mortgages
closing costs
finding lenders
the do's and don'ts of mortgages
mortgage glossary



 
Copyright © 1999-2003. Mortgages Magazine Inc., LLC All Rights Reserved.
DISCLAIMER