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Christine Layton is an editor and freelance writer in Nevada with a passion for American finance. She covers mortgage and business news for US Finance Post.

Home Remodeling Index Hits All-Time High

Home Remodeling Index Hits All-Time High

The National Association of Home Builders said on Thursday that its Remodeling Market Index (RMI) has reclaimed its all-time high of 57 in the third quarter of 2014 in yet another sign that the housing market recovery is on track. This marks the sixth quarter in a row that the RMI reading has remained above 50. A reading of at ... Read More »

Seriously Underwater Properties at Lowest Level in 2 Years

Seriously Underwater Properties at Lowest Level in 2 Years

8.1 million residential properties in the United States were underwater in the third quarter of this year, according to RealtyTrac’s U.S. Home Equity & Underwater Report. Homes are considered seriously underwater when the mortgage is at least 25% higher than the property’s estimated value. This represents 15% of all homes with a mortgage with a total of nearly $1.4 trillion ... Read More »

Changes Coming to Social Security Benefits Next Year

Changes Coming to Social Security Benefits Next Year

Many changes are coming to Social Security benefits in 2015 that will give retirees larger checks and benefit statements for some workers, according to US News. Next year, Social Security recipients will receive 1.7% larger checks due to a cost-of-living adjustment. This will result in an average of $22 more per month for the average retiree, increasing the average monthly ... Read More »

Current Mortgage Rates at Bank of America, Wells Fargo and Sun Trust (October 23, 2014)

Current Mortgage Rates at Bank of America, Wells Fargo and Sun Trust (October 23, 2014)

  Mortgage rates have shown very little movement on Thursday, October 23, 2014. Rates for popular loan products like the 30-year fixed rate mortgage and adjustable rate loans have moved upward at some lenders. Sun Trust Bank Mortgage Rates Rates are largely flat at Sun Trust Bank today. The standard 30-year fixed conventional loan is quoted at 3.9% today with ... Read More »

Bank of America, Wells Fargo and Sun Trust Mortgage Rates on October 22

Bank of America, Wells Fargo and Sun Trust Mortgage Rates on October 22

  Mortgage rates have shown slight movement on Wednesday, October 22. Rates for some popular loan products like the 30-year fixed mortgage and ARMs have moved up slightly at some lenders, while others are quoting unchanged rates. Bank of America Mortgage Rates Mortgage rates are unchanged at Bank of America on Wednesday. The standard 30-year fixed rate mortgage is advertised ... Read More »

Social Security Benefits to Increase 1.7% in 2015

Social Security Benefits to Increase 1.7% in 2015

The U.S. government will raise benefits for Social Security beneficiaries by 1.7% in 2015, the Social Security Administration said today. This is the third consecutive year in which the increase will be under 2%. The agency said it expects to send out checks to about 64 million people next year, most of whom are pensioners. The average monthly payment to ... Read More »

Mortgage Applications Rise 11.6% on Low Rates and Refinancing Surge

Mortgage Applications Rise 11.6% on Low Rates and Refinancing Surge

Mortgage applications soared last week on reduced borrowing costs that led to the largest refinancing gain since January 2012. The Mortgage Bankers Association’s Market Composite index, a measure of mortgage application volume, increased 11.6% in the week ending on October 17, which is the biggest gain since January. This follows a 5.6% increase the week before. On an unadjusted basis, ... Read More »

Existing Home Sales Hit Fastest Pace of the Year

Today's Mortgage Rates at Bank of America, Sun Trust and Wells Fargo (October 21, 2014)

Existing home sales increased to a one-year high in September in the latest sign that the housing market is gradually recovering. Existing sales reached the strongest pace of the year, although they remain below previous-year levels for the 11th month in a row, according to the National Association of Realtors. Rebounding from a dip in August, sales of existing homes ... Read More »

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