Gulf Shores mortgage experts say 2016 may bring greater borrowing opportunities for homebuyers. Although you still have to qualify for the amount you want to borrow, more lenders are reporting a loosening of credit standards. Fannie Mae says loan underwriting is expected to ease in the near future. Let's examine why this may be the case and […]
Gulf Shores Mortgage Issues: TRID to Blame
As predicted by some in the Gulf Shores mortgage industry, sales of existing homes fell sharply in November. Insiders say the new consumer disclosure rule was to blame. The rule resulted in delays in many mortgage loan closings. Gulf Shores Mortgage Fears Realized The sale of existing homes dropped 10.5% during November from the previous month, according to […]
How Rising Rates Affect Gulf Shores Home Buying
The Gulf Shores home buying market may feel the effects of the Federal Reserve’s recent decision to raise interest rates… or not. The Fed increased the rate on federal funds for banks by .25%, the first such increase in over seven years. What does that mean for people contemplating purchasing a home? Gulf Shores Home Buying: […]
Paying Points on a Gulf Shores Mortgage Loan
Gulf Shores mortgage loan experts say over 6 million people nationwide will buy homes next year. Statistics expect roughly 2 million will be first-time homebuyers. Both first-time buyers and others always wrestle with whether or not to pay “discount points” on their mortgage. The Gulf Shores Mortgage Loan: Points? Just what the heck are discount points, […]
Gulf Shores Mortgage Loan Closing Tips
A loan closing attorney who, when reviewing the documents with a new Gulf Shores mortgage borrower, used to jokingly say, “You’re welcome to read all these forms, and if you find anything in your favor the lender will be happy to correct that mistake!” Of course, he was only joking and he used that line as an ice-breaker. However, […]
Gulf Shores Interest Rates: The Watch Continues
Economists and mortgage lenders are still keeping a watchful eye on Gulf Shores interest rates. Federal Reserve chair Janet Yellen recently told the House financial services committee that no immediate decision has been made to raise interest rates. However, she said a December rate hike was still a “live possibility.” Will Gulf Shores Interest Rates Rise […]
Gulf Shores Interest Rates Should Stay Low If Fed Hikes Rates
With the Federal Reserve being on the verge of raising Gulf Shores interest rates for the first time in several years, at least one economist says there is little to fear. Mortgage rates will stay low for a good while, says the Wall Street Journal’s chief economics correspondent, Jon Hilsenrath, even if the Fed does […]
Gulf Shores Mortgage Rules – No More Pay Stubs?
Gulf Shores mortgage rules may be about to take a big change, and the jury is still out as to whether it could be bad for the mortgage industry in the long haul. If changes announced recently by Fannie Mae catch on, the process of having to fork over your pay stubs could go the […]
Gulf Shores Mortgage Rates May Still Rise in 2015
Gulf Shores mortgage rates could still be on the uptick despite conflicting economic indicators. Gulf Shores Federal Reserve President Dennis Lockhart, a highly-respected voting member on the Fed’s monetary policy committee, said there is "more downside risk" to the U.S. economy as a result of an international slowdown and stagnation in addition to the nation’s most […]
Gulf Shores Mortgage Rules to Protect Consumers
The Gulf Shores mortgage industry now has new regulations in effect designed for lenders to be more transparent in their dealings with borrowers. The areas of reform are aimed at simplifying and streamlining some of the consumer disclosure documents in order to make it easier for borrowers to understand various lending programs. Gulf Shores Mortgage Rules […]
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