Rates approach Jan 09 low
30 and 15 year fixed-rate programs approach the lowest levels since early January of 2009 leading to record new applications at AmeriFund during the week of March 23, 2009.
Rates: Open 10 am: No Change
30 yr $300K to $417K loan amounts:
Rate / Disc pts / Orig Fee
4.750% / 1.000 / 0.750
Rates match yesterday’s close - 4.625%-0.125+1.000
Mortgage rates closed flat on Thursday, declining slightly after a positive opening. AmeriFund reported that their 30 yr fixed conforming loan, 4.62526% coupon, opened at par plus 1 point origination fee for highest grade applicants on transactions with LTV ratios of 60% or less. After mid-afternoon pricing increase this coupon was costing .125 DISCOUNT plus 1% origination fee ($175,000 loan, 4.777% APR).
Mortgage Delinquencies continue to climb
The delinquency rate for mortgage loans on one-to-four-unit residential properties rose to a seasonally adjusted rate of 7.88 percent of all loans outstanding as of the end of the fourth quarter of 2008, up 89 basis points from the third quarter of 2008, and up 206 basis points from one year ago, according to the Mortgage Bankers Association’s (MBA) National Delinquency Survey.
Website - Feedback
AmeriFund first ventured onto the internet in 1994. A little bit of content, some clip art, and we were on our way. This web log is the latest addition to the site. We’d like to know what you think of the website and we welcome any suggestions. To provide YOUR comment, click on the “Comments” link directly below the title to this post.
Online Application - Feedback
AmeriFund took its first online application in 1995, years before most people had even heard of the internet. It didn’t take us long to figure out that creating the code to capture the application was easy. Developing procedures to quickly respond to the online applications was the bigger challenge. After fourteen years of trial and error we think we’ve created a pretty efficient system for accepting the application, processing it, and transmitting the results to the applicant. In most cases, we provide loan approval in just a few hours and deliver the notice of approval, required application documents, and instructions for submitting documentation to enable our processors to quickly verify the accuracy of information submitted in the application. But it’s what you think about the procedure that really counts. Here’s your chance to tell us what you think. Click the “Comments” link (below the title above) to provide YOUR comments.
Syndication for CentristSoapbox
- Obama’s Modification Plan - Are you paying for your neighbor’s home? March 7, 2009
- What’s up Doc? (besides your pay) March 6, 2009
- Properly marketing foreclosed properties: one key to stabilizing home prices February 17, 2009
- The declining value fallacy: why principal reductions are not an appropriate response February 16, 2009
- The Housing Plan: about the “affordability” section of the plan February 16, 2009
- Stimulus bill scorecard - Elephants-0, Donkeys-0 February 14, 2009
- Mr Oglethorpe’s Dilemma: A primer on stimulus spending February 9, 2009
Recent Comments