Wilmington, NC (PRWEB) December 31, 2011
Mortgage rate research website, BurlingtonMortgage.biz announced that mortgage rates posted on the site are up from the historical low points reached in previous weeks. On Friday, December 30th, 2011, 30 year fixed mortgage rates as low as 3.75% were displayed in the rate tables (APR: 3.864%, Points: 1, Lender: AuroraBank.) This is an increase over one week previous when 30 year rates hit a record low just before the Christmas holiday.
The rise in pricing was also reported by Freddie Mac, a government sponsored enterprise and purchaser of residential mortgages on the secondary market, in its weekly rate survey released Thursday, December 29th. Average pricing was up slightly for each product tracked in the survey.
According to Freddie Mac the average 30 year fixed rate mortgage averaged 3.95% (0.7 points) up from 3.91% (0.7 points) the week prior. 15 year fixed pricing saw a similar increase going from 3.21% (0.8 points) the week of December 22nd to 3.24% (0.8 points) this week. 5/1 ARM rates were also affected rising to 2.88% (0.6 points) after reaching 2.85% (0.6 points) the week before.
Though the increase is small it may signal to borrowers that rates aren't guaranteed to stay low forever, and encourage some to purchase or refinance during this window of historically great interest rates.
"When rates keep falling lower and lower sometimes people don't want to commit to a home loan for fear they'll miss an even better rate a few days later," commented Kelly Decker, a Texas mortgage banker based in McKinney, TX.
"We try to use the numbers to show how a slight change in rate often doesn't impact a monthly payment or overall interest paid that drastically – and remind homeowners that if there is another large drop in pricing somewhere down the line another refinance might be an option to take advantage of it. The most important thing is for those eligible for these incredibly low rates and who could save not to let them pass without taking action," continued Decker.
Below is a snapshot of Texas mortgage rates for a variety of products listed on BurlingtonMortgage.biz on 12/30/2011. Rates are subject to change. Please visit the site to view the criteria used in the survey.
30 Year Mortgage Rates (0 Points)
Quicken Loans 4.250% Note Rate 4.087% APR $ 1553 Fees in APR
AmeriSave 4.000% Note Rate 4.083% APR $ 1995 Fees in APR
20 Year Mortgage Rates (0 Points)
Quicken Loans 4.125% Note Rate 4.215% APR $ 1553 Fees in APR
15 Year Mortgage Rates (0 Points)
AmeriSave – 3.250% Note Rate – 3.395% APR – $ 1995 Fees in APR
AuroraBank – 3.250% Note Rate – 3.305% APR $ 757 Fees in APR
5/1 ARM Rates (0 Points)
AuroraBank – 3.375% Note Rate – 3.405% APR – $ 757 Fees in APR
Quicken Loans – 3.500% Note Rate – 3.583% APR – $ 2053 Fees in APR
About BurlingtonMortgage.biz
BurlingtonMortgage.biz is a website that offers information regarding mortgages and personal finance. BurlingtonMortgage.biz is owned by CMG Equities, LLC based in Wilmington, North Carolina. For more information visit http://www.burlingtonmortgage.biz/
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Filed under News by on Feb 3rd, 2012. Comment. 
Wilmington, NC (PRWEB) November 25, 2011
BurlingtonMortgage.biz reports that mortgage rates have been largely unchanged throughout the month of November with home loan pricing hovering just above the record low levels reached in early October. Mortgage lenders are responding to increased demand for US Treasury Bonds with extremely competitive mortgage pricing. On November 17th, 2011 30 year mortgage rates as low as 3.625% (Points: 1, Fees: $ 1995, APR: 3.789%, Lender: AimLoan.com) were posted on BurlingtonMortgage.biz. Advertised 15 year mortgage rates went as low as 2.875% (Points: 1.727, Fees: $ 1995, APR: 3.273%, Lender: Amerisave Mortgage Corporation.)
Sustained low mortgage pricing was also reported by Freddie Mac, a government sponsored enterprise that purchases residential mortgage loans in the secondary market, in its weekly Primary Mortgage Market Survey(R). In the report published Thursday, November 17th 30 year fixed rate pricing was shown to average 4.00% during the previous week (0.7 points), up just 0.01% from the report one week earlier. The average 15 year fixed mortgage rates also rose 0.01% to 3.31% (0.7 points.)
The average 5/1 ARM pricing also changed by just 0.01%, but fell that amount to 2.97% (0.6 points.)
"We continue to see a high volume of homeowners refinancing and taking advantage of these incredibly low mortgage rates," said Shaun Hamman, VP of Residential Lending at American Financial Resources, a National mortgage lender. "Lots of people are choosing to move to a 15 year loan. They're often surprised to see that their payment doesn't go up as much as they might think, and the interest savings are so substantial it can make a huge impact on their overall net worth down the road," he continued.
Below is a sampling of interest rates for a variety of loan programs listed on BurlingtonMortgage.biz on 11/17/2011. Rates are subject to change. Please visit the site to view the criteria used in the survey.
30 Year Mortgage Rates (0 Points)
Loan Depot 3.875% Note Rate, 3.956% APR, $ 1950 Fees in APR
Atlantic Mortgage & Funding – 3.875% Note Rate, 3.875% APR, $ 0 Fees in APR
20 Year Mortgage Rates (0 Points)
Integrity First Financial Group – 3.875% Note Rate, 3.981% APR, $ 1845 Fees in APR
AimLoan.com – 3.625% Note Rate, 3.739% APR, $ 1995 Fees in APR
15 Year Mortgage Rates (0 Points)
National Mortgage Alliance – 3.250% Note Rate, 3.374% APR, $ 1700 Fees in APR
Amerisave Mortgage Corporation – 3.250% Note Rate, 3.395% APR, $ 1995 Fees in APR
30 Year FHA Mortgage Rates (0 Points)
Atlantic Mortgage & Funding – 3.750% Note Rate, 3.751% APR, $ 10 Fees in APR
New American Mortgage – 3.875% Note Rate, 3.933% APR, $ 1395 Fees in APR
About BurlingtonMortgage.biz
BurlingtonMortgage.biz is a website that offers information regarding mortgages and personal finance. BurlingtonMortgage.biz is owned by CMG Equities, LLC based in Wilmington, North Carolina.
For more information, visit http://www.burlingtonmortgage.biz/.
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Filed under News by on Jan 5th, 2012. Comment.
American Mortgage : Everything U Need to Know About Purchasing and Refinancing a Home
The Expert Guide to Finding the Right Mortgage at the Right Price Whether you're buying your first home, a new home, or refinancing, it's crucial to get the right mortgage at terms you can afford over the long run. Backed by decades of real estate experience, American Mortgage lays out all the issues you need to know–your rights, the questions you need to ask, what to expect, and how to apply. Drawn from years of experience helping thousands of clients, American Mortgage delivers everything you
List Price: $ 24.95
Price: $ 24.95
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Old Merchants Mortgage Bankers Ranked #46 In The Country By American Banker Magazine
New Hyde Park, NY (PRWEB) July 13, 2006
Old Merchants Mortgage Bankers, one of the fastest growing mortgage bankers in the country, was recently named by American Banker Magazine as #46 of all mortgage and finance companies in the U.S. in terms of ad spending.
Scott Cooper, President of Old Merchants, comments, “We are very honored to be recognized by American Banker. They are one of the most prestigious financial publications in the nation. Their recognition of Old Merchants means we are definitely making an impact on the general public and on the mortgage lending industry.”
Cooper adds, “Outspending the competition on print advertising and Internet media is an integral part of Old Merchants’ strategy for expansion over the next five years. We look forward to continued recognition in this area.”
American Banker is a daily publication that reports on the banking and financial services industries. It provides editorial coverage for the entire spectrum of the industry, from commercial banks and mortgage lenders, to investment banks and insurance firms.
Old Merchants Mortgage Bankers is one of the fastest growing mortgage bankers in the country with estimated loan originations of $ 1 billion for 2006.
For more information call Old Merchants today at 1.800.344.0919 or visit their Web site: http://www.oldmerchants.com. Old Merchants Mortgage Bankers, 1983 Marcus Avenue, Suite 118 Lake Success, NY 11042.
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Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Filed under News by on Oct 10th, 2011. Comment.
Mortgage and Banking Leaders on the newly-proposed mortgage disclosure forms
Article by Insider's Mortgage Report
Filed under News by on Oct 7th, 2011. Comment.
Linda Lee Named To Mortgage Bankers
Association Of The Carolinas, Inc. Education Committee
Cary, NC (PRWEB) August 15, 2004
Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Linda Lee, Vice President and Mortgage Banking Manager, has been named to the Mortgage Bankers Association of the Carolinas, Inc. (MBAC) Education Committee, committed to assessing the educational needs of the Association members. In this position, Lee will serve for one year working closely with other committees to meet the educational needs of the members, as well as scheduling and organizing at least two seminars each year.
The Mortgage Bankers Association of the Carolinas, Inc. (MBAC) offers services such as legislative representation, education and training, networking, and informational resources to those participating in the mortgage lending industry within North and South Carolina. Members include residential and commercial mortgage bankers, mortgage brokers, wholesale lenders, savings and loan associations, commercial banks, credit unions, government agencies, non-profit organizations, and companies that provide affiliated services to mortgage bankers.
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank was opened in December 1998 to serve the financial needs of the communities it serves. The bank has total assets of approximately $ 309 million and deposits of approximately $ 263 million as of June 30, 2004, with seven full service banking offices in the communities of Cary (2), Apex, Clayton, Holly Springs, Southern Pines, and Pinehurst, North Carolina. The bank will shortly open a full service branch in Sanford to replace its loan production office.
Investors can access additional corporate information, product descriptions, and online services through the BankÂs website at http://www.crescentstatebank.com.
Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, and the effects of competition. Additional factors that could cause actual results to differ materially are discussed in Crescent Financial CorporationÂs recent filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K and its other periodic reports.
Contact:
Patty Briguglio
MMI Associates, Inc.
122 Ravenna Way, Suite 100
Cary, NC 27513
(919) 461-3831 Â (919) 462-8289 (fax)
©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Filed under News by on Sep 1st, 2011. Comment.
The American Mortgage System: Crisis and Reform (The City in the Twenty-First Century)
Successful home ownership requires the availability of appropriate mortgage products. In the years leading up to the collapse of the housing market, home buyers frequently accepted mortgages that were not only wrong for them but catastrophic for the economy as a whole. When the housing market bubble burst, so did a cornerstone of the American dream for many families. Restoring the promise of this dream requires an unflinching inspection of lending institutions and the right tools to repair the s
List Price: $ 49.95
Price: $ 31.52
Filed under News by on Aug 26th, 2011. Comment.
Granite Loan Management to Attend the Texas Mortgage Bankers Association's 93rd Annual Meeting
Denver, Colorado (PRWEB) April 15, 2009
Granite Loan Management (GLM) will attend and host an exhibit booth at the Texas Mortgage Bankers Association's 93rd Annual Meeting at the Hyatt Lost Pines in Lost Pines, Texas on May 3-5, 2009.
As the experts for construction lending, Granite Loan Management will present their full suite of risk mitigation services, including real estate owned (REO) and workout asset management services, contractor acceptance, project review and recommendation, draws disbursement, national inspector network and statutory compliance in mechanics' lien laws.
Granite Loan Management will be located in the exhibit hall at the Texas Mortgage Bankers Association's Annual Meeting. The exhibit hall will be open from 6:00pm-7:30pm on May 4, and from 7:45-noon and 4:30pm-5:30pm on May 5.
For more information on Granite Loan Management, visit http://www.graniteloan.com.
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©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Filed under News by on Aug 18th, 2011. Comment.
TexasLending.com to Present a Mortgage Test on KLIF AM Radio
(PRWEB) August 06, 2011
Kevin Miller of TexasLending.com, a Texas home loan and mortgage company specializing in Texas refinance loans and Texas reverse mortgages, will be having a mortgage test for listeners to test their knowledge of the current housing market and the requirements to get into a home, to refinance, or to get a home equity loan on his weekend radio show. The big swings in the market this week and how that impacted mortgage rates for a 15 year mortgage drop to the lowest on record will also be discussed. In Dallas/Fort Worth the show can be heard Saturday on AM 570 KLIF from 1:00 p.m. to 2:00 p.m.
"After our home buyers seminar this past week we found that most people have no clue about the guidelines and requirements to qualify for a mortgage. We will fix that this week on the show" commented Kevin Miller.
TexasLending.com has been on the air for over 10 years to educate the consumer about home loans in Texas. Listen in each week as the CEO of TexasLending.com, Kevin Miller, and his co-hosts, discuss the behind the scenes information about the mortgage industry that will help you in making an informed decision about your home loan now and in the future.
About TexasLending.com:
TexasLending.com provides expert service in the field of residential mortgages. Headquartered in Dallas, TexasLending.com specializes in loans throughout the states of Texas, Oklahoma, Florida, Missouri and Colorado. TexasLending.com is a mortgage Banker with virtually unlimited options available for conventional, FHA, VA, Texas home equity loans, home purchase loans, refinance loans, and reverse mortgages. To find out more about Texas Lending’s home loan and mortgage programs, visit http://www.TexasLending.com.
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©Copyright 1997-
, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.
Filed under News by on Aug 15th, 2011. Comment.
Live a Blessed Life Through Reverse Mortgage Canada
Just like various other financial plans and programs, reverse mortgages are also catching up with people who are attaining or are already retired. In fact, these programs are quite popular in the United States and are offered under different categories based on the regional demarcations. In addition, one such plan on the offing is reverse mortgage Canada. This plan helps as it offers them a financial security.
Well, as everyone knows that reverse mortgages are a kind of loan, where the lender pays the monthly installments to the loan seeker, instead of letting the seeker pay the amount to him. Studies show that over two hundred thousand people have already used reverse mortgage Canada to elevate their life after retirement. It is a government sponsored and insured loan that requires no payments until the person is residing in his or her house. Moreover, this loan enables homeowners to access the money they have built up as equity in their houses. Hence, the name reverse mortgage is aptly adopted by various financial agencies as the payment stream is reversed. It enables senior citizens to convert their home equity into tax-free income. However, the reverse mortgage Canada is designed to strengthen seniors’ personal and financial independence by offering funds without a monthly payment during their lifetime in their homes.
The lender pays the amount of the home equity in a form of a lump sum, in a stream of payments, or as a supplement to social security or other retirement funds. However, not every senior citizen is eligible for reverse mortgage Canada. The applicant must be at least 62 years of age, owns, and occupies a home as their personal residence. The owner should have a single-family residence, town home, condominium, multiple unit building, or mobile homes with a permanent foundation. However, unlike a conventional home equity loan or second mortgage, no repayment is required for the reverse mortgage until the borrowers no longer use the home as their principal residence. The other basic difference between a reverse mortgage in Canada loan and a bank home equity loan is that with a traditional second mortgage or a home equity line of credit, the debtor should have sufficient income to qualify for the loan and he or she is required to make monthly mortgage payments.
The benefits involved in a reverse mortgage in Canada could be that ownership of home can be retained for life. The remaining equity will be passed on to heirs; proceeds from reverse mortgages Canada are tax-free. And can be used for many things like home care, repairs and improvements, paying off an existing mortgage, education of grandchildren, hospital and health care costs, paying off taxes and credit card debt, buying a second home, and vacation. Hence, let your home pay you back! In reverse mortgage, no loan repayment or payments as long as the person lives in their houses is required. In fact, there is no income, medical or credit requirements to be fulfilled. This is also available in federally insured, lender insured and uninsured reverse mortgages.
Antonio Redford is a legal expert. He gives advice to clients who are looking for expert counsel on reverse mortgage. For more queries about Reverse mortgages,reverse mortgage Canada,American reverse mortgage, reverse mortgage Canada
visit on www.reverse-mortgage-seniors.com
Article from articlesbase.com
Filed under News by on Aug 11th, 2011. Comment.
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