After a brief hiatus, in which mortgage applications fell, applying for a home loan is popular again. CNN Money reports:
The Mortgage Bankers Association said its seasonally adjusted index of
mortgage applications, which includes both purchase and refinance
loans, for the week ended Jan. 9 increased 15.8% to 1,324.8. That's the
highest reading since the week ended July 11, 2003, when it reached
1,358.2.
mortgage applications, which includes both purchase and refinance
loans, for the week ended Jan. 9 increased 15.8% to 1,324.8. That's the
highest reading since the week ended July 11, 2003, when it reached
1,358.2.
Obviously, the record low mortgage rates are causing interest in refinancing, although there has been an increase in applications for first time home mortgage loans. The real trick, though, is getting those mortgage loan applications approved.
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It's a good time to get a loan for those with good credit, equity, and income. Borderline borrowers may want to research FHA loans.
One possible obstacle to getting a refinance loan could be lower than expected home appraisals.
Posted by: Ditech Home Loans | January 14th, 2009 4:17 pm |
It's a good time to get a loan for those with good credit, equity, and income. Borderline borrowers may want to research FHA loans.
One possible obstacle to getting a refinance loan could be lower than expected home appraisals.
Posted by: Ditech Home Loans | January 14th, 2009 4:18 pm |