Category Archives: Lending

Average mortgage amount increases

In a report released yesterday by Capital Economics analysts reported that the average loan amount lenders issued to borrowers in the past three months grew by $20,000, suggesting an early sign that buyer confidence is improving across the country. See … Continue reading

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Understanding your FICO score

Thank you to Lisa Fleck of Summit Funding for providing this informative piece explaining the components of one’s credit score and the impact of various activities on the FICO score. Click on the graphic to enlarge

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Prospective FHA borrowers, you have one month remaining…

…before the higher mortgage insurance premiums kick in. I’ve been alerted by multiple lenders this week regarding the new FHA mortgage insurance premiums set to become effective April 1. For loans under $625,000 FHA will increase its annual mortgage insurance … Continue reading

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Cash is King – more than ever

More properties were purchased for cash in 2011 than in any previous year. Of the 7,233 MLS-reported sales (all property types) in the Reno and Sparks markets 2,517, or nearly 35% were purchased for cash. If we restrict the analysis … Continue reading

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How low can they go? …Interest rates that is

Just received this telling (and colorful) chart from one of my colleagues in the lending arena. The chart show average interest rates on 30-year fixed Freddie Mac mortgages over the past thirty years. We constantly hear about “historical lows” with … Continue reading

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Fed to keep rates low, and other news items

Lots of news impacting the real estate industry this week… The Federal Reserve announced that they expect to keep short-term interest rates near zero for the next three years — citing the economy and the housing market still needing help. … Continue reading

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Home loan costs to increase

[Ed. Note -- I received the email below from one of my colleagues in the lending arena; Lisa Fleck of Summit Funding. Lisa sends me news from time to time pertaining to home loans and financing. In her post below … Continue reading

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Did house flippers cause the recession?

A new report from the Federal Reserve Bank of New York shows that house flipping played a larger role in the housing bubble than originally thought and is largely to blame for the recession. See this msnbc.com story: Flippers’ housing … Continue reading

Posted in Foreclosures, Lending, News | 38 Comments