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 Standards To Loosen?
As another signal of an improving U.S. economy, the nation’s biggest banks have started to loosen mortgage lending standards.
30 Year Fixed Mortgage Rate Rises To 4 Week High
This week, for the first time since mid-June, the 30-year fixed rate mortgage rate climbed on a week-over-week basis, moving 6 basis points to 3.55%, on average.
Should You Refinance?
You’ve seen it, probably a few dozen times in the last couple days (and probably for the last few weeks). On the news, online, tv commercials, and probably a few other places. Ohio Mortgage Interest Rates are at historical lows. It begs the question, should you refinance your mortgage? Most homeowners’ number one goal when […]
A Look Back at Housing Market Predictions For 2012
Analysts made bold calls at the start of the year about the housing and mortgage markets. How good were their predictions?
