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FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Equity Cash-Outs Lowest in 15 Years
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Equity Cash-Outs Lowest in 15 Years
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Equity Cash-Outs Lowest in 15 Years

August 4, 2011 (Jeff Alan)

Falling home values have left home equity piggy-banks pretty empty as of late. According to a recent report by Freddie Mac, the total amount of cash that borrowers who refinanced their first-lien mortgages took out of their homes was less than 10 percent of the total amount of cash that they took out just five years ago.

The report found that 23 percent of all refinanced loans in the second quarter of 2011 were “cash-out” borrowers, those that increased their loan by at least five percent, with an estimated net dollars of home equity converted to cash estimated to be $7.5 billion.

That’s less than nine percent of the total amount that borrowers took from their homes compared to when cash-out refinance volume peaked in the second quarter of 2006 at $83.7 billion.

Combining the second quarter of 2011 with the first quarter of this year, which saw a similar level of refinance activity, and adjusting for inflation, the amount of equity cashed-out was at the lowest level since the second half of 1996.

Not only has the amount of home equity borrowers cashed-out decreased, so has the number of borrowers compared to previous years. The average percentage of cash-outs during the 1985-2010 period was 46 percent, today the amount is half of that.

Most homeowners who refinanced their first-lien home mortgage either maintained the same the same loan amount or lowered their principal by putting “cash-in.” Over half, 51 percent, maintained about the same loan amount while 26 percent of refinancing homeowners put cash in, reducing their principal.

For 30 year fixed rate mortgages, the median interest rate reduction was about 1 percentage point, a savings of over $1550 in interest payments in the first year of the loan with a principal of $200,000.

Frank Nothaft, Vice President and chief economist of Freddie Mac stated, “This is primarily a ‘rate-and-term’ market, meaning that the typical homeowner is looking to cut their interest rate or shorten their loan term. More than three-in-four borrowers are keeping their loan balance about the same or reducing their loan balance when they refinance.”

“Savvy homeowners are taking advantage of some of the lowest fixed-rates in more than 50 years to lock in interest savings. Over the first half of 2011, fixed-rate mortgage rates hit a low during June, with 30-year product averaging 4.50 percent and 15-year averaging 3.68 percent over the last four weeks of June, according to our Primary Mortgage Market Survey,” he added.

Tags: Freddie Mac, home equity, piggy-bank, borrowers, refinance, cash-out, cash-in, principal, interest, interest rate reduction

Source:
Freddie Mac

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

August 4, 2011 (Jeff Alan)

Falling home values have left home equity piggy-banks pretty empty as of late. According to a recent report by Freddie Mac, the total amount of cash that borrowers who refinanced their first-lien mortgages took out of their homes was less than 10 percent of the total amount of cash that they took out just five years ago.

The report found that 23 percent of all refinanced loans in the second quarter of 2011 were “cash-out” borrowers, those that increased their loan by at least five percent, with an estimated net dollars of home equity converted to cash estimated to be $7.5 billion.

That’s less than nine percent of the total amount that borrowers took from their homes compared to when cash-out refinance volume peaked in the second quarter of 2006 at $83.7 billion.

Combining the second quarter of 2011 with the first quarter of this year, which saw a similar level of refinance activity, and adjusting for inflation, the amount of equity cashed-out was at the lowest level since the second half of 1996.

Not only has the amount of home equity borrowers cashed-out decreased, so has the number of borrowers compared to previous years. The average percentage of cash-outs during the 1985-2010 period was 46 percent, today the amount is half of that.

Most homeowners who refinanced their first-lien home mortgage either maintained the same the same loan amount or lowered their principal by putting “cash-in.” Over half, 51 percent, maintained about the same loan amount while 26 percent of refinancing homeowners put cash in, reducing their principal.

For 30 year fixed rate mortgages, the median interest rate reduction was about 1 percentage point, a savings of over $1550 in interest payments in the first year of the loan with a principal of $200,000.

Frank Nothaft, Vice President and chief economist of Freddie Mac stated, “This is primarily a ‘rate-and-term’ market, meaning that the typical homeowner is looking to cut their interest rate or shorten their loan term. More than three-in-four borrowers are keeping their loan balance about the same or reducing their loan balance when they refinance.”

“Savvy homeowners are taking advantage of some of the lowest fixed-rates in more than 50 years to lock in interest savings. Over the first half of 2011, fixed-rate mortgage rates hit a low during June, with 30-year product averaging 4.50 percent and 15-year averaging 3.68 percent over the last four weeks of June, according to our Primary Mortgage Market Survey,” he added.

Tags: Freddie Mac, home equity, piggy-bank, borrowers, refinance, cash-out, cash-in, principal, interest, interest rate reduction

Source:
Freddie Mac

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

August 4, 2011 (Jeff Alan)

Falling home values have left home equity piggy-banks pretty empty as of late. According to a recent report by Freddie Mac, the total amount of cash that borrowers who refinanced their first-lien mortgages took out of their homes was less than 10 percent of the total amount of cash that they took out just five years ago.

The report found that 23 percent of all refinanced loans in the second quarter of 2011 were “cash-out” borrowers, those that increased their loan by at least five percent, with an estimated net dollars of home equity converted to cash estimated to be $7.5 billion.

That’s less than nine percent of the total amount that borrowers took from their homes compared to when cash-out refinance volume peaked in the second quarter of 2006 at $83.7 billion.

Combining the second quarter of 2011 with the first quarter of this year, which saw a similar level of refinance activity, and adjusting for inflation, the amount of equity cashed-out was at the lowest level since the second half of 1996.

Not only has the amount of home equity borrowers cashed-out decreased, so has the number of borrowers compared to previous years. The average percentage of cash-outs during the 1985-2010 period was 46 percent, today the amount is half of that.

Most homeowners who refinanced their first-lien home mortgage either maintained the same the same loan amount or lowered their principal by putting “cash-in.” Over half, 51 percent, maintained about the same loan amount while 26 percent of refinancing homeowners put cash in, reducing their principal.

For 30 year fixed rate mortgages, the median interest rate reduction was about 1 percentage point, a savings of over $1550 in interest payments in the first year of the loan with a principal of $200,000.

Frank Nothaft, Vice President and chief economist of Freddie Mac stated, “This is primarily a ‘rate-and-term’ market, meaning that the typical homeowner is looking to cut their interest rate or shorten their loan term. More than three-in-four borrowers are keeping their loan balance about the same or reducing their loan balance when they refinance.”

“Savvy homeowners are taking advantage of some of the lowest fixed-rates in more than 50 years to lock in interest savings. Over the first half of 2011, fixed-rate mortgage rates hit a low during June, with 30-year product averaging 4.50 percent and 15-year averaging 3.68 percent over the last four weeks of June, according to our Primary Mortgage Market Survey,” he added.

Tags: Freddie Mac, home equity, piggy-bank, borrowers, refinance, cash-out, cash-in, principal, interest, interest rate reduction

Source:
Freddie Mac

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS