Major mortgage organizations are extending a helping hand to victims of Hurricane Katrina. For example, Freddie Mac has extended its mortgage relief policies for borrowers affected by the infamous hurricane in locations declared Major Disaster Areas by President Bush. Freddie Mac also announced it is donating $50,000 to the American Red Cross to support hurricane relief efforts. In addition, the …

Mortgage interest rates have lowered in recent weeks, motivating more people to buy and finance a home now or refinance their existing mortgage before rates start climbing again. On July 1, the average mortgage rate is down to 5.53 percent for a 30-year, fixed-rate mortgage (per Freddie Mac). Last year at this time, the average rate was 6.25 percent. However, …

As mortgage interest rates dip, the number of refinance mortgage applications continue to increase. That’s the scenario in late May, according to a report from the Mortgage Bankers Association. Borrowers obviously want to lock in a money-saving mortgage rate when refinancing their existing loan, before those rates push upward again. Rates have declined over the past few weeks, said the …

Sales of new and previously owned single-family homes is surpassing all previous expectations. The strong sales of newly built homes shows there’s plenty of demand in today’s marketplace, said David Wilson, president of the National Association of Home Builders. That demand will probably grow in coming weeks with mortgage interest rates lowering. At this writing it’s down to 5.78 percent …

Mortgage interest rates have been slowly but steadily increasing in recent weeks from 5.10 percent in mid-February to 6.08 percent on April 1 for a 30-year, fixed-rate mortgage, according to the Mortgage Bankers Association. All indicators point to continuing increases. The key culprit for rising rates is the fear of growing inflation. This has motivated the Federal Reserve to increase …

Spanish-speaking families are receiving special help in their efforts to purchase and finance a home of their own. This includes a widening variety of mortgage plans and other areas of support. An example of this emerging trend is a new program announced by Freddie Mac, one of the nation’s largest buyers of existing home mortgages and supplier of funds for …

This will be a very strong year for the mortgage industry, with GDP growing slightly above trend at 3.6 percent, down somewhat from the 4.4 percent growth rate last year, according to Doug Duncan, chief economist for the Mortgage Bankers Association. We see the market getting stronger, with continued strong gains in productivity. There will likely be a slight uptick …

The mortgage market will remain strong and active in year 2005 due to several key factors, according to leading analysts. First, interest rates remain at near record low levels. At this writing, the average rate for a 30-year, fixed-rate mortgage is only about 5.7 percent. It’s expected to slowly rise reaching an average rate for the year of about 6.2 …

Finally, the mystery and secrecy that has long embraced personal credit reports and credit scores has been unveiled, or soon will be. You, as a consumer, can access your own credit report, along with detailed information about factors determining your score, without charge. Your personal report and credit score can greatly impact your finances. It can influence your ability to …

New reports from major real estate organizations point to good news for future home buyers and sellers. General consensus of reports: Home sales will remain strong, with more marginal buyers being able to purchase a home of their own. Mortgage interest rates will rise, but only modestly over the next few years. With long-term mortgage rates below 6 percent and …