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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
FHA Loan Originations Down 22% From Last Year
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
FHA Loan Originations Down 22% From Last Year
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
FHA Loan Originations Down 22% From Last Year

July 28, 2011 (Shirley Allen)

Mortgage loan applications to the Federal Housing Administration (FHA) were 22 percent lower in June than they were a year ago due to a nearly 50 percent drop in refinance applications according to the agency’s Single-Family Outlook report.

The FHA had a total of 131,796 loan applications in June of this year compared to 168,915 in June of 2010, a decrease of 22 percent. June’s loan applications still out paced May’s, which recorded a total of 118,784 applications.

The drop in loan applications is directly attributed to a 50 percent drop in year-over-year refinance applications. In June of last year, the FHA recorded 69,876 refinance loan applications, while in June of this year, there were only 35,367 refinance applications, a decrease of 34,509 applications.

Year-over-year, purchase loan applications were down 2.5 percent, with June 2011 registering 87,674 purchase applications compared to 89,951 purchase loan applications in June 2010.

The number of completed FHA insured loans also dropped in June, nearly 33 percent compared to last year. In June 2010, the FHA insured 150,911 loans, while in June of this year, the FHA insured 101,469 mortgages.

Completed purchase money mortgages were down nearly 36 percent from 115,831 in June 2010 to 74,370 in June 2011. Similarly, refinance transactions dropped nearly 29 percent from 29,776 in June of last year to 21,242 in June 2011.

The average FICO score for a homebuyer securing a FHA loan in June was 699. The average FICO score a year ago was 698. For refinanced transactions, the average FICO score in June was 698, while the average score a year earlier was 694.

At the end of June, the FHA had 7,151,199 insured single-family mortgages in its portfolio with an amortized balance of $994.6 billion.

The serious delinquency rate, homes that were 90 days or more past due, was 8.2 percent, down from 8.6 percent in June 2010.

Tags: FHA, Single-family Outlook report, loan originations, purchase loans, refinance loans, FICO score, serious delinquency rate

Source:
HUD

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.
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A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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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

July 28, 2011 (Shirley Allen)

Mortgage loan applications to the Federal Housing Administration (FHA) were 22 percent lower in June than they were a year ago due to a nearly 50 percent drop in refinance applications according to the agency’s Single-Family Outlook report.

The FHA had a total of 131,796 loan applications in June of this year compared to 168,915 in June of 2010, a decrease of 22 percent. June’s loan applications still out paced May’s, which recorded a total of 118,784 applications.

The drop in loan applications is directly attributed to a 50 percent drop in year-over-year refinance applications. In June of last year, the FHA recorded 69,876 refinance loan applications, while in June of this year, there were only 35,367 refinance applications, a decrease of 34,509 applications.

Year-over-year, purchase loan applications were down 2.5 percent, with June 2011 registering 87,674 purchase applications compared to 89,951 purchase loan applications in June 2010.

The number of completed FHA insured loans also dropped in June, nearly 33 percent compared to last year. In June 2010, the FHA insured 150,911 loans, while in June of this year, the FHA insured 101,469 mortgages.

Completed purchase money mortgages were down nearly 36 percent from 115,831 in June 2010 to 74,370 in June 2011. Similarly, refinance transactions dropped nearly 29 percent from 29,776 in June of last year to 21,242 in June 2011.

The average FICO score for a homebuyer securing a FHA loan in June was 699. The average FICO score a year ago was 698. For refinanced transactions, the average FICO score in June was 698, while the average score a year earlier was 694.

At the end of June, the FHA had 7,151,199 insured single-family mortgages in its portfolio with an amortized balance of $994.6 billion.

The serious delinquency rate, homes that were 90 days or more past due, was 8.2 percent, down from 8.6 percent in June 2010.

Tags: FHA, Single-family Outlook report, loan originations, purchase loans, refinance loans, FICO score, serious delinquency rate

Source:
HUD

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

July 28, 2011 (Shirley Allen)

Mortgage loan applications to the Federal Housing Administration (FHA) were 22 percent lower in June than they were a year ago due to a nearly 50 percent drop in refinance applications according to the agency’s Single-Family Outlook report.

The FHA had a total of 131,796 loan applications in June of this year compared to 168,915 in June of 2010, a decrease of 22 percent. June’s loan applications still out paced May’s, which recorded a total of 118,784 applications.

The drop in loan applications is directly attributed to a 50 percent drop in year-over-year refinance applications. In June of last year, the FHA recorded 69,876 refinance loan applications, while in June of this year, there were only 35,367 refinance applications, a decrease of 34,509 applications.

Year-over-year, purchase loan applications were down 2.5 percent, with June 2011 registering 87,674 purchase applications compared to 89,951 purchase loan applications in June 2010.

The number of completed FHA insured loans also dropped in June, nearly 33 percent compared to last year. In June 2010, the FHA insured 150,911 loans, while in June of this year, the FHA insured 101,469 mortgages.

Completed purchase money mortgages were down nearly 36 percent from 115,831 in June 2010 to 74,370 in June 2011. Similarly, refinance transactions dropped nearly 29 percent from 29,776 in June of last year to 21,242 in June 2011.

The average FICO score for a homebuyer securing a FHA loan in June was 699. The average FICO score a year ago was 698. For refinanced transactions, the average FICO score in June was 698, while the average score a year earlier was 694.

At the end of June, the FHA had 7,151,199 insured single-family mortgages in its portfolio with an amortized balance of $994.6 billion.

The serious delinquency rate, homes that were 90 days or more past due, was 8.2 percent, down from 8.6 percent in June 2010.

Tags: FHA, Single-family Outlook report, loan originations, purchase loans, refinance loans, FICO score, serious delinquency rate

Source:
HUD

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