According to the Mortgage Bankers Association of America, Americans refinance their home mortgage loans every four years. But how do Americans know it is time to refinance? How do they know which refinance loan to choose?
The National Association of Realtors (NAR) announced today that existing home sales decreased 0.4% in January, when compared to the previous month’s sales.
The interest rates on fixed rate mortgages (FRM) were
up during the week ended February 14 according to the results of Freddie
Mac’s Primary Mortgage Market Survey.
Freddie Mac vice president and chief economist commented on the
rates; “This week was relatively light on the number of economic data
releases”
Housing starts and building permits
continue to lag far behind the numbers recorded one year ago according to
monthly data issued on Wednesday by the U.S. Census Bureau and The
Department of Housing and Urban Development.
Tourists have long used home swaps as a way to save
money and escape the blandness of hotel rooms; trading use of a house on
the beach in Florida for a New York City apartment or lakeside cabin for
a week or two.
The idea has now spread to permanent swaps. With far
more home sellers than buyers in the market today some entrepreneurs have
come up with.
A week ago six of the major mortgage servicers involved in the Hope
Now alliance announced that they would be offering a
pause in foreclosure proceedings to borrowers who
appeared able to enter into loan modification agreements. Now the
remaining 19 members of the alliance have agreed to adopt the same
guidelines in a program nicknamed Project Lifeline.