Even with record-low mortgage rates, many refinancing borrowers are choosing to pay down their loan balances rather than borrow more money. According to a recent report by Freddie Mac, “cash-in” borrowers – those who reduced their principal balance by paying in additional money at the closing table – represented 22 percent of all borrowers who […]
Getting a Mortgage: Tougher Than It Used to Be
Getting a Mortgage: Tougher Than It Used to Be Freddie Mac VP Patricia McClung on what is needed in this economy for potential home buyers to get a mortgage. Have questions or comments about today’s tougher standards for getting a mortgage? Use the comment link below to contact us.
Fannie Mae Delinquency Rate Down
Fannie Mae Delinquency Rate Down The percentage of past due loans held by the nation’s largest mortgage financier has fallen. In its monthly summary report just released, Fannie Mae said the serious delinquency rate on single-family mortgages in its portfolio dropped to 5.47 percent in March, down 12 basis points from 5.59 percent in February. […]