Post-Fiscal Cliff, Mortgage Markets Turn Attention To Jobs Data Up, Up, Up! Mortgage rates moved higher Wednesday as congressional leaders voted to avoid the “Fiscal Cliff”. Mortgage-backed securities (MBS) fell as investors bid up stock prices. Confidence among investors and consumers typically causes mortgage rates to rise. That’s what happened Wednesday. For Thursday and Friday, expect jobs …
What’s Ahead For Mortgage Rates This Week : December 31, 2012
Mortgage Rates Mortgage bonds improved last week, pushing mortgage rates lower in Arkansas, Missouri and nationwide. Positive economic news and strong housing data was trumped by ongoing Fiscal Cliff discussions on Capitol Hill. The “Fiscal Cliff” is meant to represent January 1, 2013 — the date on which mandatory spending cuts are enacted by Congress …
Refinancing Costs Predicted to Go Up in 2013
The future looks bleak for FHA-insured loans. A mode of federal assistance wherein low-income American earners are allowed to borrow money (usually as down payment) to purchase homes for themselves. If FHA maintains having low interest rates, loans will then have to be refinanced from its portfolio. As a result, it has a $13.5 billion …
Dear First-time Homebuyers
Along with the New Year come the new trends. The same goes for those occurring in the housing industry. Here are seven bits of advice and news that can help first-time home buyers navigate the mortgage industry in 2013. Save money now. Lenders will be paying more attention to the sum of money in your …
Clock Ticking on Mortgage Tax Break for Struggling Homeowners
Struggling homeowners have something big to worry about in the days ahead. The Mortgage Debt Forgiveness Act passed by Congress in 2007 is set to expire soon. Its expiration would spell the end of a tax break that has been keeping troubled homeowners from paying thousands of dollars to the IRS because of forgiven mortgage …
