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Current Mortgage Interest Rates at Bank of America, Wells Fargo and SunTrust on September 17, 2014

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The number of mortgage applications experienced the highest jump in the last 3 months, as the American borrowers rushed to finance/refinance homes despite the increasing lending costs. The Mortgage Bankers Association’s index increased 7.9% for the week ended September 12, experiencing a biggest hike since the early June. The refinancing mortgage gauge jumped 10.3%, also the highest since early July, ... Read More »

Mortgage Applications Spike 7.9%

Mortgage Applications Spike

Mortgage applications spiked last week with both refinancing and purchase applications climbing, according to the Mortgage Bankers Association. The MBA said its seasonally adjusted index of mortgage application activity, including purchase and refinance demand, increased 7.9% in the week ending on September 12. The seasonally adjusted index of refinancing applications rose 10.3%, while the gauge for purchase loans, which is ... Read More »

Rental Construction Soars to 25-Year High as Homeownership Falls

Rental Construction Soars to 25-Year High as Homeownership Falls

While the single-family construction sector has experienced slow growth, the multifamily sector, particularly apartment construction, continues its fast rebound, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for the month. The report adds greater validation to the recent Multifamily Production Index (MPI) from the National Association of Home Builders. This indicator for the multifamily market gained 5 points ... Read More »

Mortgage Interest Rates at Bank of America, Wells Fargo and SunTrust Bank on September 12, 2014

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Two of the biggest Charlotte based banks, Bank of America Corp and Wells Fargo & Co., are have invested into Apple Inc’s mobile payment services, which the tech giant launched this Tuesday under the name of – APPLE PAY. This new service enables the customers to make payments by touching their iPhone 6, or their new Apple Smart Watch, on ... Read More »

Today’s Mortgage Interest Rates Show Some Movement at Bank of America, Wells Fargo and SunTrust – September 11, 2014

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According to the most recent data released by Freddie Mac this Thursday, mortgage interest rates experienced a little hike while continuing to stick to their yearly low marks. For the first time in a period of 3 weeks, the popular 30 year fixed rate average moved marginally up to 4.12% with an average hike of 0.5 point. The 30 year ... Read More »

Communities Demand End to HUD Distressed Loan Sales

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Community groups and homeowners in 10 cities have started to rally at local offices of the Department of Housing and Urban Development (HUD), calling for an end to a program that sells off delinquent loans to investors, HousingWire reports. The groups are protesting the HUD Distressed Asset Stabilization Program, which was created two years ago to auction delinquent loans to ... Read More »

Daily Mortgage Rates Summary: Bank of America, Wells Fargo and SunTrust on September 10, 2014

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The number of U.S. home loan applications reduced last week and touched a lowest mark since December 2000 as interest rates experienced their first hike in the last four weeks. According to the Mortgage Bankers Association, the seasonally adjusted index of mortgage home loan application activity, which comprises of demand of both home purchase as well as refinancing home loans, ... Read More »

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