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Data released by RealtyTrac on April 14 showed that the number of foreclosures in the first quarter of 2011 was lower than what it was during the same quarter in 2010. More than 681,000 homes received a foreclosure filing in Q1 2011, a 27% decrease. That same quarter, 215,046 borrowers lost their homes, which is … Continue reading Affordable Financial Services’ Weekly Finance Review The Commerce Department reported this week that housing starts fell 22.5% in February to 479,000 units, from an upwardly revised January figure of 618,000 units. It was the biggest decline in 27 years and finished just above a record low set in April 2009. Building permits — a hint of future construction demand — fell … Continue reading Affordable Financial Services Weekly Finance Review CNNMoney recently reported that the number of foreclosures in February fell 14%, compared to January and 27% compared to February 2010. According to RealtyTrac, that is the largest year-to-year drop the company has ever recorded. While some see this as a sign of recovery in the housing market, the company says part of the decline … Continue reading Affordable Financial Services Weekly Finance Review The number of mortgage applications fell 6.5% last week, according to the Mortgage Bankers Association. The MBA also reported that refinancing activity also fell by 6.5% to 64.9% of total applications last week, down from 65.7% the week before. The four-week moving average for all mortgage applications was down 2.5%. Adjustable-rate mortgages made up 5.5% … Continue reading Affordable Financial Services Finance Review Next-Day Cash-Out Refinancing Available Continue reading New Program of the Week Pending home sales rose 2.0% in December, says the National Association of REALTORS. It was the fifth increase in the past six months. The NAR says its pending home sales index rose to 93.7 from a downwardly revised 91.9 in November. However, the index is still 4.2% below the figures from December 2009. (Pending home … Continue reading Affordable Financial Services’ Weekly Finance Review 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 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 MarketWatch recently reported that the Mortgage Bankers Association is predicting that — barring any “blockbuster” announcement from the Federal Reserve next month — mortgage rates will come out of their record lows, reaching above 5% by 2011. The MBA predicts that rates on the 30-year fixed-rate mortgage will average 4.4% in the fourth quarter of 2010, … Continue reading MBA: Mortgage Rates Will Rise Above 5% in 2011 |
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