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Loan Application Alert : Conforming, Interest Only Mortgages Guidelines Change Next Week

If you plan to finance your home with a conforming interest only mortgage, get your loan application submitted no later than this Friday, June 18. Starting next week, Fannie Mae is clamping down on the popular loan product.

By |2017-08-10T02:40:55-04:00June 20th, 2010|Mortgage Guidelines, Mortgage Lending, New Jersey, Pennsylvania, Real Estate|Comments Off on Loan Application Alert : Conforming, Interest Only Mortgages Guidelines Change Next Week

Pending Home Sales Data Shows Great Deals On Homes Are Getting Harder To Find

April marks the third straight month that pending home sales are up and today's buyers should take note. This is because, according to the National Association of Realtors®, 80% of homes under contract close within 60 days.

By |2017-08-10T02:41:03-04:00June 11th, 2010|Economy, Pending Home Sales, Real Estate|Comments Off on Pending Home Sales Data Shows Great Deals On Homes Are Getting Harder To Find

Consumer Confidence Hints At Higher Home Prices And Higher Mortgage Rates, Too

According to The Conference Board, economic confidence is as high as it's been since August 2007 -- 4 months before the start of the recession. Americans are optimistic again. It's good for home prices but bad for mortgage rates.

By |2017-08-10T02:41:09-04:00June 8th, 2010|Consumer Confidence, Economy, Real Estate|Comments Off on Consumer Confidence Hints At Higher Home Prices And Higher Mortgage Rates, Too

Foreclosure Activity Slows For The First Time In Several Years

According to foreclosure-tracking firm RealtyTrac.com, the number of foreclosure notices dropped 2 percent between April 2009 and April 2010. 2 percent may not seem like much, but it's the first time in the history of the RealtyTrac report that the annual foreclosure rate has dropped.

By |2017-08-10T02:41:26-04:00May 18th, 2010|foreclosures, New Jersey, Pennsylvania|Comments Off on Foreclosure Activity Slows For The First Time In Several Years
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