Mortgage Insights

Get the latest mortgage news and other insights into the home loan industry from the at Bank of Internet USA.

 

October Sees Rise in Consumer Default Rates after Nine Month Decline

Nov 19, 2012 - Superstorm Sandy left many people in the metro New York area with a tough decision to make. Some buyers have decided to proceed with the purchase, although now they must deal with negotiations on repairs, while other potential buyers no longer believe it is worth the risk and are looking for...

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Customer Satisfaction with Lenders Reaches Highest Point in Six Years

Nov 19, 2012 - The Realtors Confidence Index, from the National Association of Realtors, revealed that access to financing is still a difficult task for many people. Banks are asking for higher credit scores from potential borrowers and even rejected a person with a score as high as 800. According to the...

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Shrinking Inventory of Existing Homes has Given Rise to Builder Confidence

Nov 19, 2012 - The future looks bright for Florida homeowners next year. According to Fannie Mae chief economist, Doug Duncan, decreasing amounts of distressed properties are the biggest improvement for Floridians. The latest survey puts the drop around 2 million distressed properties.Another big break Florida...

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The End of 2012 Sees More Affordable Housing

Nov 19, 2012 - A few points lower on your credit score may raise your interest rate up to one-fourth higher than a better score. The market is so sensitive to credit scores, even a good score can result in a higher interest rate.Major credit score damage may take a year to fix, but you may be able to work with...

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October Reports Show Improved Consumer Spending

Nov 19, 2012 - Freddie Mac reported today that the initial rates on ARMs are the lowest recorded levels in the 29 year history of the ARM survey. Between the dates January 7th to January 10th, Freddie Mac conducted the most recent survey and showed that hybrid ARMs remained the top adjustable rate products in...

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