Posts by David Quilty

Surprise! Your Free Credit Score Isn’t the One Your Mortgage Lender Will Use

Nearly everyone has access to free credit scores today. But one of the big surprises is that the free credit score you’ve been tracking isn’t the one that your mortgage lender will use. That isn’t some sort of glitch in the system. There are a number of reasons why your free credit score and the […]

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Mortgage Rates Continue to Hold Historic Lows

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell again last week, continuing to hover near record lows. Rates fell across all loan categories, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. Consistently low mortgage rates have been […]

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How Real Estate Apps Have Buyers Hooked

New research from Google shows Americans spend an average of 55 minutes per visit when using real estate apps on their smartphones. The data – aimed at better understanding how buyers use technology during their house hunt – shows scanning through available homes for sale and looking at prices in different neighborhoods has become something […]

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Survey Finds Average Mortgage Rates Down

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell across all loan categories last week, including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. But despite lower rates, demand for mortgage applications actually fell from the week before. In […]

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Mortgage Rates Increased Last Week

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates rose across all loan categories last week, including 30-year fixed-rate loans with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate mortgages. The increase slowed mortgage demand, especially refinance activity. Michael Fratantoni, MBA’s chief economist, told CNBC […]

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Housing Market Continues Down Familiar Path

The housing market has been fairly steady for quite a while now and mortgage rates have stayed low while prices continue to rise. In many markets, there are too few homes available for sale – and though affordability conditions have been affected by increasing prices and tight inventory – an improved job market, low rates, […]

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Mortgage Rates Continue To Fall

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell again last week across all loan categories, including 30-year fixed-rate mortgages with both conforming and jumbo balances, loans backed by the Federal Housing Administration, and 15-year fixed-rate loans. Mortgage rates are now at their lowest level since May 2013. Michael Fratantoni, MBA’s […]

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Survey Asks What Makes A House A Home

There are plenty of surveys asking prospective home buyers what features are most important to them when looking for a house to buy. Most of them find buyers naming storage space and energy efficiency among their top priorities. But extra closets and low energy bills aren’t things normally associated with making a new house feel […]

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Mortgage Rates Drop To Near Record Lows

According to the Mortgage Bankers Association’s Weekly Applications Survey, average mortgage rates fell to their lowest level in more than three years last week. And, in the case of jumbo loans, rates fell to lows not seen since 2011. Michael Fratantoni, MBA’s chief economist, told CNBC that financial market volatility is behind the rate drop. […]

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Low Inventory Presents Challenge For Buyers

Home buyers looking to buy a house this year have been met with a more challenging housing market than in years past. Following the housing crash, supply outweighed demand and the market favored buyers. With more homes than buyers, prices were low and buyers had all the negotiating power. This year, on the other hand, […]

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