Earlier this summer Fannie Mae announced a major update to its Automated Underwriting System (AUS) known as Desktop Originator/Desktop Underwriter (DO/DU). With this update, the days of drive-by appraisals will be over. So what does this mean to homeowners? Be ready to pay for a full appraisal, upwards of $400 with most lenders. Currently, once […]
New Home Sales Reach New High
As reported by the U.S. Department of Commerce, 372,000 new homes were sold in July on a seasonally-adjusted, annualized basis.
Ohio Closing Costs, Highest and Lowest States 2012
Mortgage rates are lower this year, and closing costs are, too.
Ohio Mortgage Rates This Week – August 20, 2012
Mortgage markets worsened for the third straight week last week as the U.S. economy showed new signs of expansion, and as little new news came from Europe.
Ohio Mortgage Rate Alert – Why Have Rates Moved Higher?
After reaching record lows near the end of July, mortgage rates have moved steadily higher this month. From their peak around July 24, mortgage rates have increased one-quarter point or more. Prior to July 26, two primary factors were responsible for the decline to record lows. First, the European debt troubles caused investors to shift […]
Home Affordability Drops – First Time in 12 Months
Rising home prices are taking a toll on today’s home buyers. For the first time in 4 quarters — and despite falling mortgage rates — home affordability is sinking.
Ohio Mortgage Rates This Week – August 13, 2012
Mortgage markets worsened last week as the investors moved back into risk-taking mode.
Ohio Mortgage Standards To Loosen?
As another signal of an improving U.S. economy, the nation’s biggest banks have started to loosen mortgage lending standards.
Major USDA Updates Coming October 1st
USDA recently released proposed changes to eligibility areas in Ohio and fees that will go into effect October 1st. USDA makes these changes for its USDA mortgages based on: increases in population based on the 2010 census the area no longer meets the definition of Rural because the county is now part of a Metropolitan […]
Mortgage Rates, What Lies Ahead – August 6, 2012
Mortgage bonds worsened last week, moving to a near-6 week high.
