Mortgage News

Home sales rebound

Mon, 09 Nov 2009 21:52:05 GMT

Low mortgage rates, low home prices and home buyer tax credit boost home sales. After a period in the doldrums, home sales have bounced back strongly throughout the United States. Sales of existing homes jumped 9.4 percent to an annualized pace of 5.57 million sales in September...

Home buyers nab low interest rates

Mon, 09 Nov 2009 20:41:33 GMT

Lowest interest rates in almost four decades present prime opportunity for home buyers. Mortgage interest rates have now fallen to the lowest level on record for at least the last 37 years. The average rate on a 30-year fixed-rate mortgage was just 5.01 percent with an average 0.6 point...

Buried Alive

Mon, 09 Nov 2009 20:41:27 GMT

How to get out from under that mountain of debt. Polonius is the guy in Hamlet who famously warned: “Neither a borrower nor a lender be.” Fortunately, he wasn’t living in America. If he were, he’d be appalled at what’s going on today. Based on 200...

Federal Reserve hints at rate trends for 2010

Mon, 09 Nov 2009 20:33:21 GMT

The recent statement from the Federal Reserve may indicate higher interest rates in 2010. Home buyers and homeowners may want to be prepared for the possibility of higher mortgage rates next year. That’s one take-away from a statement the Federal Reserve issued Wednesday, November 4.. Rat...

What interest rate will you pay on your loan?

Fri, 23 Oct 2009 13:47:14 GMT

Find out what factors determine the interest rate you'll be offered on a home loan. If you've decided to buy a home or refinance your mortgage, you may be puzzled by the different interest rates you've seen advertised for home loans. You're not alone: Many home buyers and homeowners...

Interest rates drop

Wed, 14 Oct 2009 15:59:47 GMT

Low interest rates trigger rise in loan refinance applications. Mortgage interest rates fell to a three-month low last week, causing a surge in loan applications to refinance a mortgage or buy a house, according to a weekly survey conducted by the Mortgage Banker...

Five steps to refinance

Mon, 28 Sep 2009 19:06:06 GMT

How to navigate the refinance process from figuring out your goals to closing your loan. Refinancing your mortgage could let you lower your monthly payment, reduce your interest expense or get a loan with a fixed interest rate and payment. If you’ve been waiting to take advantage of thos...

Economy up, interest rates down

Fri, 25 Sep 2009 15:48:02 GMT

Mortgage interest rates stay low as economy strengthens. All systems were go for borrowers this week as interest rates dropped again and the U.S. economy showed new signs of recovery. The average interest rate on 30-year fixed-rate mortgages was just 5.0 p...

Tax credit spurs home buyers

Fri, 11 Sep 2009 20:57:13 GMT

Home buyers who act quickly can get $8,000 tax credit. If you’ve been thinking about buying a home this year, you may want to act soon since the federal First-Time Home Buyer Tax Credit program is set to end Nov. 30. The tax credit is worth 10 percent of...

Home appraisals: What you should know

Fri, 21 Aug 2009 14:22:47 GMT

An appraisal is an assessment of a home’s value – and an important component of getting final approval for your loan. If you’re shopping for a loan to buy a home or refinance your mortgage, you may already know that a home appraisal is almost always required before a loan can close. But if you’re like many other bor...

Federal Reserve says economy is ‘leveling out’

Thu, 20 Aug 2009 14:38:39 GMT

Fed holds down interest rates amid signs of economic improvement. The U.S. economic recession may not be over yet, but there are some signs that the situation may be improving, according to the Federal Reserve. That improvement — and the Fed’s plan to keep interest...

Cash for Clunkers: Details of CARS rebate program

Wed, 19 Aug 2009 17:17:28 GMT

The Cash for Clunkers or CARS program turns your clunker car into a cash rebate toward a new vehicle. If you’re in the market for a new car or truck to replace your old gas-guzzling clunker, you might be able to get a $3,500 or $4,500 rebate from the federal government. There’s no need to register or...

The Fed’s take on interest rates, inflation

Wed, 19 Aug 2009 15:18:46 GMT

Federal Reserve could activate ‘exit strategy’ and raise interest rates if inflation threatens economy recovery. The Federal Reserve intends to keep interest rates low as the economy improves, but also stands ready to raise interest rates if necessary to combat inflation. That’s according to a speech Federal Re...

Ready to refinance your mortgage?

Tue, 04 Aug 2009 14:09:30 GMT

Consider interest rates, loan term and closing costs before you decide to refinance. Today’s low interest rates may have you wondering whether you should refinance an existing mortgage. The answer may not be completely obvious. On the one hand, you may be able to save a bundle on you...

5 tips for first-time mortgage borrowers

Fri, 31 Jul 2009 18:24:27 GMT

First-time home buyers should shop around, educate themselves about mortgage products. Shopping for a mortgage can be intimidating. It’s natural to feel anxious about doing something new for the first time, and getting your first mortgage is no exception. Fortunately, there are a few ...

Government offers mortgage help

Mon, 13 Jul 2009 12:57:25 GMT

New government programs may be good news for homeowners who want to refinance or obtain a loan modification. Homeowners who want to refinance their mortgage or need help to obtain a loan modification may be cheered by several recent federal government announcements. The Federal Reserve said it will keep the...

Tax credit for energy-efficient home improvements

Wed, 01 Jul 2009 21:39:21 GMT

Homeowners can take advantage of tax credits for home improvements that save energy. A new federal tax credit allows homeowners to recoup part of the cost of certain energy-efficient home improvements. The tax credit can be claimed for such improvements as energy-efficient doors, win...

Home buyer tax credit can be used as down payment

Wed, 01 Jul 2009 21:36:57 GMT

Home buyers can use $8,000 first-time home buyer tax credit for down payment, closing costs. A new federal government program will allow some home buyers to use the $8,000 first-time home buyer tax credit at closing. Prior to the new program, buyers could claim the credit on their 2008 or 20...

Will the Fed rate cut bring welcome relief?

Wed, 01 Jul 2009 21:30:52 GMT

By Brenda Spiering - LendingTree.com In an effort to help alleviate some of the negative effects of the problems in today’s housing and mortgage markets, the Federal Reserve recently cut interest rates a quarter of a p...

What the Fed Rate Cut Means to Borrowers

Wed, 01 Jul 2009 21:30:52 GMT

Straight talk from C.D. Davies, LendingTree CEO Dear Borrowers, On Tuesday, January 22, the Federal Reserve surprised us all with a slash to the benchmark Federal funds rate one week earlier than its originally scheduled meeting. With a reduction...

Welcome to the new Smart Borrower Center

Wed, 01 Jul 2009 21:30:52 GMT

Making smart decisions when it comes to borrowing money for a home, a car, a college education – nearly any high cost item – can be difficult. With today’s loan options, the choices are many, and it’...

U.S. government may buy mortgages

Wed, 01 Jul 2009 21:30:52 GMT

Proposed bailout plan intended to protect economy. Top officials in the federal government have been working on a new plan to strengthen the country's financial system. The plan would allow the U.S. government to buy mortgage-backed securities and ot...

Time to refinance your mortgage?

Wed, 01 Jul 2009 21:30:52 GMT

by Brenda Spiering - LendingTree.com Got an adjustable rate mortgage and feeling stressed about where interest rates are headed? You’re not alone. It’s estimated that about $1.5 trillion worth of adjustable rate mortgages (ARMs) are sch...

The real estate market: What's hot and what's not

Wed, 01 Jul 2009 21:30:52 GMT

by Brenda Spiering - LendingTree.com It seems everywhere in the media there are references to the fact that property values across the country have dropped. But has the real estate bubble really burst? Or are many of these reports overb...

Survey finds tougher loan requirements

Wed, 01 Jul 2009 21:30:51 GMT

Most banks have tightened their credit standards this year. It's no secret that banks have raised the bar for borrowers who want to get a new home loan. The fact is that today's requirements may be significantly more challenging, regardless of whether you wan...

Surprise rate cut: Fed cuts key rate to 1.5 percent

Wed, 01 Jul 2009 21:30:51 GMT

The Federal Reserve slashed the federal funds rate in coordination with five central banks. How will you be affected? In an emergency move today, the Federal Reserve cut the federal funds rate by .5 percent in coordination with central banks across the world. In a statement, the Federal Reserve said the move was ma...

Spike in number of homeowners with resetting ARMs

Wed, 01 Jul 2009 21:30:51 GMT

By Brenda Spiering - LendingTree.com This year, nearly $1.5 trillion worth of adjustable rate mortgages (ARMs) are due to reset. That’s up from the already considerable $300 billion worth that reset in 2006. Why the sudden increase in m...

Rising rates may make ARMs riskier

Wed, 01 Jul 2009 21:30:51 GMT

Refinancing could protect you from higher monthly mortgage payments. If you have an adjustable-rate mortgage (ARM) and are worried about the prospect of higher interest rates later this year, you might want to consider refinancing to take advantage of today’s still-at...

Rescue plan may help borrowers

Wed, 01 Jul 2009 21:30:51 GMT

Tax breaks and other measures aim to stabilize U.S. financial markets. The federal government has enacted a new economic rescue plan that's intended to ease the nation's credit crunch and enable lenders to make more loans. That could be good news for individual borrower...

Real estate: A good time to buy?

Wed, 01 Jul 2009 21:30:51 GMT

Falling home prices and low interest rates may mean it's a good time to buy. Today’s headlines can be confusing: Home prices are down, but may fall further; Interest rates are low, but lending standards have become more stringent. What does it all mean? Is now a good time to ...

Rates drop on jumbo loans

Wed, 01 Jul 2009 21:30:51 GMT

By Brenda Spiering - LendingTree.com After heading upwards between August and September, rates on jumbo loans have started to come back down. A few months back, if you were searching for a jumbo loan (a loan that exceeds $417,000 -- th...

Rates drop on government bailout news

Wed, 01 Jul 2009 21:30:51 GMT

Announcement leads to huge one-day decline in mortgage rates. Interest rates on home loans and other types of consumer debt fell Tuesday after the U.S. Treasury and Federal Reserve announced two important billion-dollar initiatives to support consumer and small...

Rates dip on big mortgages

Wed, 01 Jul 2009 21:30:51 GMT

Lower interest rates on "jumbo mortgages" may make larger loans more affordable. Interest rates on so-called "jumbo-conforming mortgages" have dipped significantly in recent weeks. The new lower rates should make these larger loans more affordable for people who live in...

Rate locks when rates are rising

Wed, 01 Jul 2009 21:30:51 GMT

A lock can hold your interest rate for you even if interest rates rise. If you’re ready to apply for a home loan, but are concerned that interest rates might go up before your loan closes, a rate lock might be just what you need. A rate lock puts a hold on your interest...

Q&A about today's mortgage market

Wed, 01 Jul 2009 21:30:51 GMT

Helpful information and advice for borrowers looking for a home loan. Q. Can you explain what is going on in today’s mortgage market? There are two distinctively different stories to tell in today’s mortgage market. First – there are prime borrowers with great credit g...

News Alert: Fed cuts rates by .75 percent at unscheduled meeting

Wed, 01 Jul 2009 21:30:51 GMT

By Nicole Hall - LendingTree.com The Federal Reserve Board slashed interest rates three-quarters percent on Tuesday, January 22 in an apparent reaction to weakening economic conditions and turmoil in global financial markets. The e...

News Alert: Fed cuts key rate by .25% at Oct 31 meeting

Wed, 01 Jul 2009 21:30:51 GMT

By Nicole Hall - LendingTree.com The Federal Reserve Board lowered interest rates a quarter percent on Wednesday, October 31, in the second cut to the federal funds rate since August. The decision lowered the target on a key short-t...

News Alert: Fed cuts key rate by .25% at Dec 11 meeting

Wed, 01 Jul 2009 21:30:51 GMT

By Nicole Hall - LendingTree.com The Federal Reserve Board lowered interest rates a quarter percent on Tuesday, December 11, in an attempt to stimulate a softening economy. The decision was the third rate cut in three mont...

New survey shows Americans' relationship with debt

Wed, 01 Jul 2009 21:30:50 GMT

By Brenda Spiering - LendingTree.com According to the newly released results of the nationwide LendingTree Smart Borrower Survey, 48 percent of those polled said they were uncomfortable with the amount of household debt they carry and 5...

New polls show decline in monster homes

Wed, 01 Jul 2009 21:30:50 GMT

By Brenda Spiering - LendingTree.com Those sprawling 10,000-square-foot monster homes that began to be shoehorned into upscale neighborhoods across the country in the late 1980s may finally be losing ground in the luxury home market. Th...

New mortgage rules to protect borrowers

Wed, 01 Jul 2009 21:30:50 GMT

By Brenda Spiering - LendingTree.com The Federal Reserve has proposed a new set of lending regulations designed to help protect borrowers. In an effort to tighten up some of the questionable lending practices that are being blamed for m...

New law seeks to lower college borrowing costs

Wed, 01 Jul 2009 21:30:50 GMT

Federal aid is increasing, but so are the costs of a four-year education. There’s new good news and new bad news when it comes to paying for college. The good news is that a federal law passed by Congress in 2007, the College Cost Reduction Act, will increase the amount of...

New form could help mortgage shoppers

Wed, 01 Jul 2009 21:30:50 GMT

A new federal plan could revamp how lenders disclose home-loan terms and costs. Borrowers, prepare to shop. And, potentially, to save hundreds of dollars on your next home loan, thanks to a new federal government plan that would revamp how lenders disclose home-loan terms and c...

New FICO score formula

Wed, 01 Jul 2009 21:30:50 GMT

FICO 08 may provide a more accurate representation of a person’s credit history. If you’ve ever applied for a loan and had your application rejected, you may have been surprised to discover that your credit rating wasn’t as good as you thought it was. Lenders rely upon credit bur...

Mortgage rates near record lows

Wed, 01 Jul 2009 21:30:50 GMT

Low mortgage rates entice home buyers and spur refinancing. It's true: Interest rates on home loans have fallen to new lows for this year. In fact, rates have declined so dramatically that many homeowners are taking advantage of the opportunity to lock in a l...

Mortgage Rates Drop

Wed, 01 Jul 2009 21:30:50 GMT

Government action on Fannie Mae and Freddie Mac results in lower mortgage rates. Interest rates on new home loans headed lower this week after the federal government stepped in to manage Fannie Mae and Freddie Mac, the country's two biggest mortgage companies. Fannie Mae and Fred...

New program streamlines mortgage modifications

Wed, 01 Jul 2009 21:30:50 GMT

New mortgage modification program offers a faster, simpler way for homeowners to get more affordable mortgage payments. The federal government has introduced a new mortgage modification program to simplify and streamline the process of modifying some homeowners’ mortgages so they will be able to afford their monthly m...

Mortgage forms confuse borrowers

Wed, 01 Jul 2009 21:30:50 GMT

By Brenda Spiering - LendingTree.com Confused by your mortgage forms? You’re not alone. A recent study of mortgage disclosure forms for the Federal Trade Commission (FTC) concluded that many borrowers don’t understand key items in the f...

Making sense of house prices

Wed, 01 Jul 2009 21:30:50 GMT

Do headlines about home prices have you confused? Here's why it's important to understand what home value facts and figures really mean. It’s no secret that home prices have declined in many U.S. towns and cities. Indeed, the downward trend has been the subject of numerous newspaper headlines, not to mention plenty of cocktail party s...

Making Home Affordable helps homeowners refinance

Wed, 01 Jul 2009 21:30:50 GMT

Borrowers who don’t have equity may be able to refinance through the Making Home Affordable plan. The Obama Administration has announced more details of the new Making Home Affordable plan that helps homeowners who are struggling to pay their mortgage or want to refinance, but owe more than their...

Maintenance that makes $ense

Wed, 01 Jul 2009 21:30:49 GMT

Ongoing maintenance can help protect your investment in your home. If you’re worried about falling home prices, here’s some good news: Ongoing maintenance can help protect your investment, ward off even more expensive repairs and make your home more comfortable for ...

Low-payment mortgages harder to get

Wed, 01 Jul 2009 21:30:49 GMT

New federal guidelines may make riskier, low-payment mortgages more difficult to obtain. In recent years, mortgage lenders have offered more financing options than ever before. Homeowners today can find a loan that suits almost any financial situation and tolerance for risk. New federal ...

Long-term mortgage rates hit two-year low

Wed, 01 Jul 2009 21:30:49 GMT

By Brenda Spiering - LendingTree.com There’s some good news for borrowers as we head into the holiday season. Interest rates on long-term mortgages have dropped to their lowest levels in two years, according to Freddie Mac, the federall...

Loan Modification Plan Announced

Wed, 01 Jul 2009 21:30:49 GMT

New mortgage loan modification program promises borrowers help with keeping up with their mortgage payments. The U.S. Treasury has announced important details of President Obama’s new housing rescue plan, which includes both a loan modification program to help homeowners who can’t afford their mortgage paym...

Lending standards changing to protect borrowers

Wed, 01 Jul 2009 21:30:49 GMT

Freddie Mac has announced it will stop buying home loans that carry a high risk of payment shock. In recent years, many homeowners have taken advantage of non-traditional adjustable rate mortgages (ARMs) that provide low introductory interest rates. However, the “teaser” rates on these mortgages ...

Lenders offer mortgage rebates and rate discounts

Wed, 01 Jul 2009 21:30:49 GMT

by Brenda Spiering - LendingTree.com A recent decline in the number of customers shopping for mortgages may be bad news for lenders but it’s good news for consumers. The fact that mortgage originations were down 29 percent in the final ...

Lenders face flood of loan applications

Wed, 01 Jul 2009 21:30:49 GMT

Homeowners who want to refinance should be prepared to be persistent. If you've decided to refinance your mortgage to take advantage of today's low interest rates, be prepared to be patient and persistent. Many lenders have received a flood of new loan applications due...

Larger mortgages for lower rates

Wed, 01 Jul 2009 21:30:49 GMT

Homeowners can now get bigger mortgages for less interest due to a recent rise in the conforming limit. You’ve heard a lot about the rise in housing prices across the country. To reflect that increase, the so-called conforming limit on mortgages -- that is the maximum loan size that Fannie Mae and Fred...

Is now a good time to buy a home?

Wed, 01 Jul 2009 21:30:49 GMT

Weigh the pros and cons of buying a home now or waiting and hoping that prices will fall further. Ask some of your friends, relatives and neighbors whether now is a good time to buy a home, and you’ll probably get conflicting answers. Some may say yes since home prices have fallen, but others may...

Interest rates may drop on jumbo mortgages

Wed, 01 Jul 2009 21:30:49 GMT

By Marcie Geffner - LendingTree.com If you need to borrow more than $417,000 to buy a home or refinance your existing mortgage, you may be in luck. That's because the economic stimulus package, passed by Congress and signed by Presiden...

Interest rate ups and downs

Wed, 01 Jul 2009 21:30:49 GMT

Keep an eye on interest rates if you're looking to borrow money or have an ARM. If you’re shopping for a mortgage to buy a home or refinance your existing loan, you’ve probably noticed that interest rates change almost every day. And you’ve probably discovered that these ups and...

Improve your financial fitness

Wed, 01 Jul 2009 21:30:49 GMT

Being informed about money can reduce stress and help you live a healthier and happier life. Did you know financial fitness can save your life? Well, maybe not literally. But being well informed about money can reduce stress and help you live a healthier and happier life. Here are three tip...

How to weather a housing market downturn

Wed, 01 Jul 2009 21:30:49 GMT

Be prepared for a housing market downturn. Follow our tips to ensure you are protected in the event of a real estate decline. In recent years, real estate has seemed like a can’t-lose investment. In many parts of the U.S., housing prices have gone up more than 70 percent in the past five years, and in a few red-hot markets ...

How to benefit from today's housing market

Wed, 01 Jul 2009 21:30:49 GMT

By Brenda Spiering - LendingTree.com The news is filled with headlines about the state of today’s housing market: “Foreclosure sales are up.” “Real estate prices are down.” “Borrowers are defaulting on sub-prime loans.” It’s easy to be ...

How to avoid being upside down

Wed, 01 Jul 2009 21:30:48 GMT

Here are things to consider if you're concerned about owing more on your mortgage than your home is worth. It’s no secret that home prices have declined in many U.S. cities and towns. Indeed, median prices dropped in nearly half of the country’s major metropolitan areas in the fourth quarter of 2007 compa...

How the subprime mortgage shakeout affects you

Wed, 01 Jul 2009 21:30:48 GMT

Keep your credit in tip-top shape and be prepared to make a bigger mortgage down payment to minimize the impact. The shakeout in subprime mortgage lending is rippling throughout the economy, affecting the stock market and individual borrowers alike. It’s hitting borrowers across the spectrum, making it extreme...

Housing prices fall, sales rise

Wed, 01 Jul 2009 21:30:48 GMT

A look at national home sales trends. February was a good month for real estate, relatively speaking. Home prices showed mixed results, the pace of home sales quickened and the supply of homes on the market shrank compared with the prio...

Housing market: Riskiest regions

Wed, 01 Jul 2009 21:30:48 GMT

In most markets, you can no longer buy a home and bank on its value appreciating in the short-term. It’s a fact. Today’s housing market isn’t what it used to be. In most markets, you can no longer buy a home and bank on its value appreciating in the short-term. But what does this mean for the avera...

Housing bill to aid homeowners, home buyers

Wed, 01 Jul 2009 21:30:48 GMT

Congress to send Housing Recovery Act to President. The federal government is poised to enact a major housing bill that aims to assist first-time home buyers, homeowners who need to refinance their mortgage and an assortment of housing-related compani...

Government offers Hope for Homeowners

Wed, 01 Jul 2009 21:30:48 GMT

New loan program allows homeowners to refinance mortgages. The federal government has introduced a new mortgage program for homeowners who are having difficulty making their mortgage payments. The program, called “Hope for Homeowners,” is another option for ...

Freddie Mac announces tougher underwriting rules

Wed, 01 Jul 2009 21:30:47 GMT

by Brenda Spiering - LendingTree.com For years, Freddie Mac® has helped put families into homes they can afford. Now, it’s taking steps to help keep them there. The company that serves as one of the nation’s largest buyers of home ...

First-Time Home Buyer Tax Credit

Wed, 01 Jul 2009 21:30:47 GMT

Buying your first home? You may be eligible for a $7,500 tax credit. The federal government has enacted a tax credit of up to $7,500 to encourage first-time home buyers to jump into the housing market. If you meet the relatively easy qualifications, you could find an ...

FICO scores and home loans

Wed, 01 Jul 2009 21:30:47 GMT

You may qualify for an FHA loan, even if your FICO score falls short. Are you concerned that your FICO score might stop you from getting a home loan? If so, you may have more options than you believe you have. While it's true that a higher FICO score will likely help y...

FHASecure program expanded

Wed, 01 Jul 2009 21:30:47 GMT

The FHASecure program allows borrowers to use an FHA loan to refinance a subprime ARM. The Federal Housing Administration (FHA) has announced an expansion of its FHASecure loan program, which is designed to help homeowners who can't afford the monthly payments on their existing subprim...

Fed to hold down interest rates

Wed, 01 Jul 2009 21:30:47 GMT

Federal Reserve promises to continue low interest rate policies. The Federal Reserve announced Jun. 24 that it will keep its benchmark overnight interest rate at the rock-bottom level of zero to 0.25 percent, the lowest rate possible, and will continue to buy long...

Fed slashes interest rates

Wed, 01 Jul 2009 21:30:47 GMT

Half-point fed rate cut could benefit home-loan borrowers. The Federal Reserve today decided to lower a key bank interest from 1.5 percent to the rock-bottom level of just 1 percent. The half-point rate cut is intended to help strengthen the U.S. economy, sp...

Fed may raise interest rates

Wed, 01 Jul 2009 21:30:47 GMT

Some financial analysts believe the Fed may raise rates before the year is over. If you’ve been waiting for the Federal Reserve to lower interest rates again before you apply for a new home loan, you may want to rethink your strategy. Many financial analysts now believe the Fed ...

Fed holds interest rates steady

Wed, 01 Jul 2009 21:30:47 GMT

The Federal Reserve's decision to keep its key interest rate unchanged at 2 percent may be good news. The Federal Reserve decided Wednesday to keep its key interest rate unchanged at 2 percent. That’s good news for home buyers and homeowners who feared an increase in the benchmark federal-fu...

Fed holds interest rate steady

Wed, 01 Jul 2009 21:30:46 GMT

Decision tries to balance growth, price increases. The Federal Reserve yesterday decided not to change a key bank interest rate. The decision marked the second time the Fed left the rate unchanged this year after having lowered it in measured steps f...

Fed funds rate unchanged

Wed, 01 Jul 2009 21:30:46 GMT

Federal Reserve holds key interest rate steady. The Federal Reserve Tuesday decided to leave its benchmark interest rate unchanged at 2 percent. In its statement, the Fed said that prior interest rate cuts and other steps the Fed had already take...

Fed cuts key interest rate

Wed, 01 Jul 2009 21:30:46 GMT

The Federal Reserve trimmed a key bank interest rate by one-quarter of a percentage point from 2.25 percent to just 2 percent. As expected, the Federal Reserve yesterday trimmed a key bank interest rate by one-quarter of a percentage point from 2.25 percent to just 2 percent. The Fed has now lowered the federal funds rate 3 ...

Documents are new reality for borrowers

Wed, 01 Jul 2009 21:30:46 GMT

By Marcie Geffner- LendingTree.com If you recently applied for a new home loan, you might be surprised at the large number of documents your lender will expect you to hand over before your loan is approved. In 2005, 2006 and 2007, ma...

Details of the Housing Rescue Plan

Wed, 01 Jul 2009 21:30:46 GMT

Obama's housing rescue plan aims to help homeowners refinance. President Obama has announced a new housing rescue plan that aims to help homeowners who are struggling to pay their mortgage. The new plan allows some homeowners to refinance even if they owe more o...

Can the Fed rate cut benefit borrowers?

Wed, 01 Jul 2009 21:30:46 GMT

The Federal Reserve lowered the federal funds rate Tuesday, March 18. The Federal Reserve made a substantial cut in a key interest rate Tuesday, March 18. The federal funds rate was lowered three-quarters of one percent, referred to as "75 basis points," from...

Bush announces foreclosure relief for some American borrowers

Wed, 01 Jul 2009 21:30:46 GMT

A new subprime mortgage plan, including a rate freeze option, may help some struggling homeowners avoid foreclosure. President Bush and U.S. Treasury Secretary Henry M. Paulson Jr. announced a "streamlined" foreclosure relief program that could help some homeowners refinance adjustable-rate mortgages (ARM...

Borrowers flock to FHA loans

Wed, 01 Jul 2009 21:30:46 GMT

FHA loans typically have easier qualification requirements than non-governmental loans and require only a small down payment or very little equity. FHA loans, which are backed by the Federal Housing Administration (FHA), are enjoying a resurgence in today’s tighter lending climate. FHA loans, which have been out of favor in recent years, are es...

Borrowers benefit as Fed lowers rates

Wed, 01 Jul 2009 21:30:46 GMT

Zero bank interest rate could make home loans more affordable. Homeowners jumped at the opportunity to refinance their existing mortgages this week after the Federal Reserve lowered two key interest rates, one to a new record low of zero. The Fed lowered the fed...

Better credit can save cash

Wed, 01 Jul 2009 21:30:45 GMT

Improving your credit - and paying your bills on time - can save you money. Want to save an easy $105 this year? If you’re an average consumer, that’s how much you could cut your annual finance charges if you improved your credit score by just 30 points, according to a new s...

Baby boomers push second-home market

Wed, 01 Jul 2009 21:30:45 GMT

By Brenda Spiering - LendingTree.com The results of a newly released study of nearly 2,000 American baby boomers -- those born between 1946 and 1964 -- commissioned by the National Association of REALTORS® (NAR), show boomers shoul...

Avoiding negative equity

Wed, 01 Jul 2009 21:30:45 GMT

Home buyers can position themselves to avoid being underwater on their mortgage. If you're thinking about buying a home, you may be concerned about the prospect of negative equity. Also referred to as being "underwater" or "upside-down," negative equity occur...

ARMs less popular, Freddie Mac reports

Wed, 01 Jul 2009 21:30:45 GMT

Low 30-year fixed interest rates make adjustable-rate mortgages less attractive. Adjustable-rate mortgages (ARMs) are waning in popularity but remain the mortgage of choice for certain homebuyers, according to a Freddie Mac survey released in January 2008. Applications for ARMs r...

A bumpy road for the mortgage market

Wed, 01 Jul 2009 21:30:45 GMT

The subprime shakeout means some changes for homeowners and those looking to buy a home, especially if you have poor credit. By Bridget Smith There’s a shakeout going on right now in the subprime mortgage market. What does that mean to you, the average home owner? What if you’re getting ready to buy your first home? What i...

6 ways to cut your housing costs

Wed, 01 Jul 2009 21:30:45 GMT

Refinancing and cutting your monthly utility and insurance expenses could save you money on your housing costs. Housing costs make up a large chunk of most people's household budget. That's one reason why housing costs can be a prime target if you're looking for some good ways to save money this year. Here are...

6 ways the fed rate cut could affect you

Wed, 01 Jul 2009 21:30:45 GMT

Here's how to interpret the Fed's action and how interest rates might be affected. Now that the Federal Reserve has lowered rates on January 22 and again on January 30th, you may be wondering how you can benefit. The decision doesn’t necessarily represent...

6 tips to refinance your mortgage faster

Wed, 01 Jul 2009 21:30:45 GMT

Historically low interest rates have triggered a rush to refinance. Here are tips for your loan request. Hordes of homeowners across the country have decided it’s a great time to shop for a new mortgage, especially one that has lower payments, a lower interest rate or a rate that’s fixed instead of adj...

5 ways to protect your finances

Wed, 01 Jul 2009 21:30:45 GMT

Uncertainty about today’s economy calls for calm and caution. If you're feeling less secure about your financial situation these days, you're not alone. Job losses, stock market gyrations, tighter credit and Congressional debates about the economy have made man...

5 steps for smart borrowing in today's market

Wed, 01 Jul 2009 21:30:44 GMT

Confused about getting a loan in today's chaotic mortgage market? Here's help. The credit markets have tightened. For some it will be difficult to get a loan. But for others, it’s a fine time to borrow. If you’re considering a loan, these 5 simple steps will help you evaluate y...