Mortgage Refinance Trends: New Wave Spurs 6-Week High Demand.
It looks like there’s a “mini-wave” of mortgage refinancing that’s been pushing the rate of applications up to a six week high. But the home buyer tax credit doesn’t expire until the end of April, and that doesn’t apply to refinancing anyway, so why the rush?
The rush may be due to the anticipated end to [...]
New Home Sales Down 7.6% In December.
According to this article from the AP, new home sales fell 7.6% last month.
The Commerce Department said December sales fell to a seasonally adjusted annual rate of 342,000 from an upwardly revised November pace of 370,000. Economists surveyed by Thomson Reuters had forecast a pace of 370,000 for December.
It’s mildly surprising given that the home [...]
Anna Nicole Smith’s Bizarre Bankruptcy Claim.
I don’t usually post about celebrity news, but occasionally a “celebrity in debt” kind of story catches my attention.
Today, I came across this story about Anna Nicole Smith’s bankruptcy that was about the strangest thing I’d read since… well, since Michael Jackson was in the news.
For starters, we have the classic celebrity in debt quote:
In [...]
U.S. Mortgage Refinancing Applications Rose in the First Week of 2010.
It seems like only yesterday that we were hearing about Option ARM Mortgage rates resetting, and that holders of those loans were unable to refinance because their house was worth less than the mortgage…. Oh, wait… it was yesterday.
Well, even so, things appear to be confusing in the housing market and mortgage industry [...]
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