Posted by Ilene C. Seidel on 8/19/11 1:40pm
Msg #394259
Just found this on msnbc
http://realestate.msn.com/blogs/listed-loans.aspx?post=4b11a32b-7159-4199-91d1-e702a80a8ed4>1=35010
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Reply by Ilene C. Seidel on 8/19/11 1:41pm
Msg #394260
cnbc sorry
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Reply by NotaryMot/CA on 8/19/11 2:07pm
Msg #394265
Re: Loan Apps down 9.1% lowest in 13 months last week
I just heard there was a 9.1% drop in home mortgage apps last week, the worst in 13 months. Hopefully it will shift due to the Fed's announcement of keeping rates low.
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Reply by aanotary on 8/19/11 2:40pm
Msg #394268
think positive
Mortgage Bankers Association says the volumes of mortgages was up 21.7 % from the previous week-- for first week of August. Over the past month refinance applications increased 63%!!!!!!!!!
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Reply by John/CT on 8/19/11 2:50pm
Msg #394269
I do, but ...
I haven't seen my piece of the action. My volume down by one-third. 
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Reply by Alice/MD on 8/19/11 3:05pm
Msg #394272
Re: I do, but ...
My volume is down MORE than one-third John. I am having a vacation that I can't afford. My Surety Bond comes due August 30th and it cost me $788.00 to renew for 2 years. I hope business picks up or I will have to raise my fee. I am sure companies will go shopping for just a notary who do not have a Surety Bond. Well so be it.!!
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Reply by Cupguy/Ar on 8/19/11 3:21pm
Msg #394273
Re: I do, but ...
I heard on the radio that 30 year fixed rates are down to 4.125. That
should help.
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Reply by LynnNC on 8/19/11 3:46pm
Msg #394276
4.1 percent increase in applications last week...
...according to Financial Times. According to the article:
But tougher standards imposed on borrowers by Freddie Mac and its sister company Fannie Mae mean that some homeowners who most need a rate reduction are being denied. Mr Kramer noted that a missed credit card payment several years back could be a barrier to a mortgage.
“Folks who need to refi[nance] for a whole host of reasons but mostly to find some affordability are having a hard time either because they don’t meet the credit threshold ... or the property has depreciated,” said Marietta Rodriguez, national director of NeighborWorks, which advises struggling homeowners.
http://tiny.cc/q0f6g
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Reply by Blueink_TN on 8/19/11 9:26pm
Msg #394326
Re: 4.1 percent increase in applications last week...
So true. The credit bureau's have raised their standard's for ratings. I have borrower's that I dealt with months ago calling me and telling me they're ready to refinance. Well, guess what, their credit scores have deteriorated. Low credit scores together with low loan to value (appraisals) equal, yeah, no loans for them. However, for the one's who qualify - rates are sooo low, almost scary.
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