Latest News in Mortgages and Home Loans- May 11, 2010

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Underwater Mortgage Holders Increase in 2010 Quarter 1
Those with underwater mortgages increased during the first quarter of 2010, reports Zillow. These underwater mortgages are those in which the owner owes more on the home than it is worth. This situation is also known as having negative equity. Many people are seeing increases in negative equity since home values began falling in late [...]

The Importance of Being Financially Prepared
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Recently, we have been seeing signs that the economy is picking up. The employment situation seems to be improving, albeit slowly. April figures show that there were 290,000 additions to nonfarm payrolls. This news is encouraging, since it means that jobs might be available again soon.
However, it is important not [...]

Mortgage Rates Inch Lower
Mortgage rates continue at near record lows. This week, mortgage interest rates inched lower over last week, dropping to an average of 5% from 5.06%. MarketWatch reports on some of the factors leading to lower rates:
“Treasury bond and note yields declined this week, and rates on fixed-rate mortgages and hybrid ARMs followed suit,” said [...]

How Much Will That Home REALLY Cost?
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It can be easy to get excited about buying a home when you first get started. You look at prices and — especially in this climate — they seem rather reasonable. I know. My husband and I have been looking at homes, and some of them are as little as [...]

Pending Home Sales Increase
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March saw an increase in pending home sales, probably helped in large part by the home buyer tax credit, and by mortgage interest rates that are near record lows. The National Association of Realtors reports on the latest numbers:
Lawrence Yun, NAR chief economist, said favorable affordability conditions have [...]

Mortgage Interest Rates Remain Near Record Lows
Even though the economy is showing signs of recovery, mortgage interest rates remain relatively low. Indeed, throughout the first quarter of 2010, mortgage rates stayed right around 5%, reports NuWire Investor:
?Rates on 30-year fixed-rate mortgages during the first quarter remained low, averaging 5.0 percent in Freddie Mac?s Primary Mortgage Market Survey,? said Frank [...]

Consumers Help Economic Expansion, But Recovery Likely to Remain Slow
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The latest numbers about economic growth are in for Quarter 1 of 2010, and the news is a little disappointing. Yes, the economy grew, but it didn’t grow as much as hoped. And it grew at a slower pace than in Quarter 4 of 2009. However, there is a silver [...]

Today is the Last Day for the Home Buyer Tax Credit
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Today is the last day for the home buyer tax credit. If you want to take advantage of this tax credit, you will have to be under contract by today. If you are in the process of buying a home, now is a good time to get things almost wrapped [...]

4 Tips for Getting the Best Mortgage for You
Your best bet is to plan out what you can afford in a mortgage payment, and then shop around for the best mortgage for you. Here 4 tips that can put you in a good position when it comes to getting a favorable mortgage rate.

What if Your Mortgage Payment is Too High?
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Even though the foreclosure crisis is abating somewhat, and the housing market appears to be picking up a little bit, not everyone is out of the woods. Indeed, some mortgages are still re-setting, and others have found themselves out of work, or with cut hours. Between the expiration of interest [...]

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