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Existing Home Sales Hit One-Year High

Existing Home Sales Hit One-Year High

Sales of existing homes in the U.S. reached their highest level in a year last month in the latest sign that the housing market is finally shaking off the shock of last year’s climb in mortgage rates. Sales of existing homes rose 1.5% in October to a seasonally adjusted annual rate of 5.26 million, according to the National Association of ... Read More »

Mortgage Rates Today: Wells Fargo, Bank of America and Sun Trust Bank (November 20)

Mortgage Rates Today: Wells Fargo, Bank of America and Sun Trust Bank (November 20)

  Mortgage rates have moved lower for many popular loan products this week, particularly fixed-rate mortgages. Thursday Bank of America Mortgage Rates Bank of America advertises the benchmark 30-year fixed mortgage today at 4.000% with a 4.112% APR. The 20-year fixed loan is published at a lower 3.875% on Thursday with a 3.997% APR. Buyers can lock into a shorter-term ... Read More »

Today’s Mortgage Rates at Bank of America, Sun Trust and Wells Fargo (November 19)

Today's Mortgage Rates at Bank of America, Sun Trust and Wells Fargo (November 19)

  Mortgage rates are largely flat on Wednesday, November 19, although rates have moved down slightly this week for some fixed-rate loans. Today’s Bank of America Rates Bank of America advertises both the 30-year and 20-year fixed rate mortgages at 4.000% today, although the shorter-term loan carries a slightly lower APR. The popular 15-year fixed purchase loan is published at ... Read More »

Dollar At Seven-Year High Versus Yen

Dollar At Seven-Year High Versus Yen

The dollar strengthened to a seven-year high against the yen while Treasuries dropped as investors speculated Federal Reserve minutes will indicate policy makers are optimistic about the economy. Meanwhile, U.S. stocks dropped from all-time highs. “The yen has not been so weak against the dollar in real terms — that is, if you factor in inflation — since the 1980s,” ... Read More »

FHA Loan Insurance Fund is in the Black Again

FHA Loan Insurance Fund is in the Black Again

The federal government’s mortgage insurance premium posted the first positive balance in two years following several increases to premiums charged to homeowners and cutting losses on mortgages. The Federal Housing Administration projects a $4.8 billion value for the 2014 fiscal year, an independent analysis said this week. The FHA’s balance sheet moved back into the black after the Mutual Mortgage ... Read More »

Cash Out Refinancing on the Rise as More Homeowners Tap Equity

Cash Out Refinancing on the Rise as More Homeowners Tap Equity

With improving home values and mortgage rates that remain near historic lows, more borrowers are now accessing through home equity through cash out refinancing, in many cases to pay down higher-interest debt from student loans or credit cards or fund home improvement projects. In the third quarter, homeowners took out about $8 billion in home equity through cash out refinancing ... Read More »

November 14 Mortgage Rates at Bank of America, Wells Fargo and Sun Trust

Mortgage Rates Today: Wells Fargo, Bank of America and Sun Trust Bank (November 20)

  Mortgage interest rates have remained largely unchanged for the past week. The benchmark 30-year fixed rate mortgage remains around 4.00% at major lenders on Friday, November 14. Friday’s Bank of America Mortgage Rates On Friday, Bank of America advertises the standard 30-year fixed rate mortgage at 4.000% with a 4.149% APR. The 20-year purchase loan is quoted at 4.000% ... Read More »

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