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The Federal Housing Finance Agency (FHFA) recently reported that the national average contract mortgage rate for the purchase of previously occupied homes by combined lenders was 4.42% for November. That figure is down from October’s rate of 4.47%. The FHFA also reported that the average interest rate on conventional 30-year fixed-rate mortgage loans of $417,000 or … Continue reading Contract Mortgage Rates Fall in November The National Association of Realtors recently reported that existing home sales in November rose 5.6% from the previous month. The NAR reported a seasonally adjusted rate of 4.68 million units in November, compared to the seasonally adjusted figure of 4.43 million units in October. However, the November 2010 figures are 27.9% below the November 2009 … Continue reading Affordable Financial Services Weekly Finance Review A recent article in USA Today broke down how the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 that was signed into law by President Obama will affect employers, employees and homeowners. Under the new tax law, homeowners can still take deductions on mortgage insurance premiums, the USA Today article states. This provision … Continue reading What Does the 2010 Tax Law Mean for Mortgage Interest Deductions? Housing Wire recently reported that mortgage applications to lenders fell 2.3% for the week ending December 10, marking the third straight week of declines. According to the Mortgage Bankers Association, the refinance index also declined for the fifth consecutive week by 0.7%. However, the refinancing share of the mortgage activity grew to 76.7% of total applications, … Continue reading Mortgage Applications Decline by 2.3% REALTORMag.com reported today that, for the fourth consecutive week, mortgage rates have risen after seeing record lows. Interest rates for 30-year fixed-rate loans went from 4.46% last week to 4.61%, based on the most recent Freddie Mac survey. In addition, 15-fixed-rate loans averaged 3.96% last week, compared to 3.81% the week before. These rates are at … Continue reading Mortgage Rates Rise for Fourth Straight Week The Wall Street Journal reported today that the percentage of U.S. consumers who are delinquent on their mortgages could be less than 5% by the end of 2011. The delinquency rate is expected to be above 6% by the end of this year. TransUnion LLC predicts that mortgage delinquencies will decline to 4.98% by the end … Continue reading Mortgage Delinquency Rate Could Fall Below 5% By The End of Next Year I write this note to express my great satisfaction with the work done by Mr. Luis Omar Figueroa of Affordable Financial Services LTD, in connection with a recent refinancing of my primary residence. Following an internet inquiry, Luis called me to offer the services of his company in late September. After giving me the customary fees charged … Continue reading Affordable Financial Services Testimonial |
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