30-year fixed-rate mortgage (FRM) averaged 4.32 percent with an average 0.7 point for the week ending August 11, 2011, down from last week when it averaged 4.39 percent. Last year at this time, the 30-year FRM averaged 4.44 percent. 15-year FRM this week averaged 3.50 percent with an average 0.
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08/12/2011
The following DU changes will be effective August 20, 2011: Stronger compensating factors will be required for DTI between 45- 50% * this does not impact the maximum DTI requirements for DU Refi Plus. High Balance Mortgage Loan Limits – Loan files created in DU on or before September 30, 2011 th
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08/11/2011
The Federal Housing Finance Agency, which regulates Fannie and Freddie, will issue the formal "request for information" with the administration to solicit proposals that shrink the glut of foreclosed properties weighing on the residential market. Selling properties in bulk transactions to investo
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08/10/2011
On average and consistent with June, Americans believe home prices will decline slightly over the next year. Only 11 percent of respondents say it is a good time to sell one’s home (similar to May and June 2011 survey results). Despite Americans’ expectations that rental prices will go up in the
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08/09/2011
There are about 2.2 million vacant homes available for sale in the U.S. 7.5 million homes are facing foreclosure that would add to the excess housing supply This will continue to cause home values to drop further The homeownership rate fell to 65.9 percent as of June 30, the lowest level in 13 y
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08/08/2011
Fannie Mae acquired 53,697 single-family real-estate owned (REO) properties, primarily through foreclosure, in the second quarter of 2011 This compared with 53,549 in the first quarter of 2011 Fannie Mae disposed of 71,202 single-family REO in the second quarter of 2011 This was a 13,3% increase
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08/05/2011
NAR firmly believes Congress intended to create a broad QRM exemption – strong evidence shows that responsible lending standards and ensuring a borrower’s ability to repay have the greatest impact on reducing lender risk,” said NAR President Ron Phipps “The proposed rule should be withdrawn, rev
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08/04/2011
The yield on the 10-year Treasury note plunged to 2.62% on Tuesday — down from more than 3.7% in February Mortgage rates followed and reached their lowest point since November 2010, according to the real estate website Zillow 30-year fixed-rate loans average 4.5% with no upfront costs The 30-yea
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08/03/2011
In the second quarter of 2011, 77 percent of homeowners who refinanced their first-lien home mortgage either maintained about the same loan amount or lowered their principal balance by paying-in additional money at the closing table. Of these borrowers, 51 percent maintained about the same loan
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08/02/2011
U.S. GDP grew at an annualized rate of 1.3 percent in the second quarter, subdued by weakened consumer spending tied to Japanese auto-related products. More worrisome, however, was the sharp downward revision to first quarter output from 1.9 percent to just 0.4 percent. This significant drop in f
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08/01/2011