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Edyta Rhodes
I'm happy to answer any of your mortgage questions. Just get in touch
I'm happy to answer any of your mortgage questions. Just get in touch


Mortgage Loan Applications in Raleigh dropped by 50% in the last month affecting home loans in the greater Raleigh area.  
There are a few reasons for the drop in mortgage loans  in Raleigh
- Low supply of homes. With the #economy  rebounding more buyers enter the market but since the economic downturn took down ton of #homebuilder  and developers, the supply of  #homes  is simply low. While the existing and upcoming #builders  try to catch up with the demand, the seekers outpace the sellers. 

- drop in employment rate of the young - typically the young people are the engine of the  #economy  and they constitute the largest percentage of #firsttimehomebuyer  . However, home loans application volume in Raleigh has been directly affected by the underemployment of the  25-34 age group that experienced decline in employment to approximately 73% from 81% back in 2001. Young people are often forced to move back with their parents even thought they would be willing to buy a new home in Raleigh and apply for a mortgage loan.

- home prices are up. With the lock of inventory the sellers are demanding more money for their homes. As a result buyers may be priced out of their budget. Even tough mortgage rates in Raleigh are still record lows, the effects of the low supply and higher prices
have a negative impact on home loan demand in Raleigh.
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Raleigh Home Loans – today +Bank of American announced another settlement with the Justice Department, this time for 16.6 billion.
The bank has been accused of misleading the buyers of a mortgage backed securities (bonds) about the performance and quality of the instruments.
Mortgage companies in Raleigh used +Bank of America as one of their wholesale lenders until couple of years ago when+ Bank of America left the wholesale channel and decided to focus their mortgage efforts on the retail.
The settlement today adds to a total of 72 billions BOA paid in penalties. Raleigh Home Loans are in no way affected by this development today. Mortgage rates in Raleigh are also stable as the development did not have much impact on the financial markets.
•In 2010, it paid $2.8 billion to +Fannie+ Mae and Freddie Mac over mortgages.
•In 2011, it paid trustee +Bank of New York $8.6 billion and bond insurer Assured Guaranty $1.6 billion after they filed lawsuits over bond deals that went sour.
•In 2012, it paid nearly $12 billion to help settle lawsuits over wrongful foreclosures and more than $2 billion in a class-action suit it inherited from +Merrill Lynch.
•Last year, it paid +Fannie Mae almost $12 billion more.
•Earlier this year, it paid the +Federal Housing Finance Authority more than $9 billion. And those are just the big ones.
if you are looking for a Raleigh home loans we are here to assist.

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#mortgage   #mortgagebroker   #mortgagerates   #Raleighmortgage  
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Mortgage Lenders Raleigh – There is no doubt that the world has seen its share of conflicts in 2014. We have seen major conflicts in areas such as Ukraine, Gaza, Iraq, Syria, Libya. With the turmoil the world markets have been pretty solid with our stock market being no exception. By mid-July, the Dow and the S&P were again in record territory. As always, this effects mortgage rates in Raleigh and mortgage lenders Raleigh.
The Ukrainian crisis has occupied the headlines for the good part of 2014. Yet, the downing of a civilian airliner has brought the conflict to a center stage as many countries have implemented economic sanctions against Russia because of it’s actions in Ukraine. Russia has retaliated with it’s own sanctions and now we have a possible economic cold war in the making. The markets have reacted negatively to these escalating developments. Mortgage lenders Raleigh are on lookout for the effects of those developments on mortgage rates in Raleigh. Mortgage companies Raleigh and mortgage brokers realize that in such economic and political landscape mortgage rates can be volatile.
Experts have indicated that the stock market is due for a correction, as it has been almost three years since the last real correction of at least 10%. Each time we have had a pullback in the past 3 years, the markets have rebounded quickly and this past week we saw at least a moderate rebound. The question in if the Russian crisis escalates, could we be in for a real correction?
However, there is some positive news which has arisen from the stock market’s recent international malaise. Long-term rates and oil prices have both headed lower. At a time when we are hearing positive news with regard to the economic recovery, lower rates and lower oil prices may serve to hasten economic growth. If economic growth accelerates, that is good news for stocks — but possibly only if rates stay low. Mortgage rates Raleigh will possibly experience some kind of correction. Mortgage lenders Raleigh will need to reassess the impact of this on future mortgage applications.
The Mortgage Markets in Raleigh – mortgage brokers Raleigh
•Fixed mortgage rates in Raleigh fell slightly in the past week with rates staying within the same range they have been for almost the past three months.
•Freddie Mac announced that for the week ending August 14, 30-year fixed mortgage rates in Raleigh fell slightly to 4.12% from 4.14% the week before.
•The average for 15-year mortgage rate in Raleigh loans ticked down to 3.24%.
•Adjustables were also stable in the past week, with the average for one-year adjustables up slightly to 2.36% and five-year adjustables decreasing marginally to 2.97%.
•A year ago 30-year fixed mortgage rates in Raleigh were at 4.40%.
•Attributed to Frank Nothaft, vice president and chief economist, Freddie Mac — “Rates on home loans in Raleigh were down slightly amid a week of light economic reports. Of the few releases, retail sales were virtually unchanged in July after a 0.2% increase in June, ending five months of increases. Excluding motor vehicles and parts, retail sales were up 0.1% last month.”
Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes. Mortgage lenders Raleigh, mortgage companies Raleigh.
#Raleighmortgage   #raleighhomeloans   #mortgagerates   #mortgageraleigh   #mortgagenews   
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