FHA Mortgage Applications Increase in August

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FHA Mortgage Applications Increase in August

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

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FHA Mortgage Applications Increase in August

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 Mortgage Applications Increase in August

September 20, 2011 (Shirley Allen)

Mortgage loan applications to the Federal Housing Administration (FHA) surged 23.9 percent last month partially due to a significant increase in refinance applications according to the agency’s Single-Family Outlook report for August.

The FHA had a total of 142,793 loan applications in August, up from 115,263 applications in July. Applications were still down from August of last year when 200,907 applications were submitted, a decline of 28.9 percent.

Refinance loan applications increased by 60.1 percent from July to August with a total of 49,773 applications submitted in August compared to 31,081 submitted in July.

Refinance applications were still significantly lower compared to last year despite the record low interest rates in August. Applications were 52.4 percent lower than August 2010 which posted 104,652 submitted applications.

Purchase loan applications were also higher in August increasing by 11.2 percent compared to July. A total of 85,080 purchase applications were submitted in August, up from 76,543 applications submitted in July.

Purchase applications were slightly lower than the 86,569 applications that were submitted in August 2010.

The number of completed FHA insured loans increased 9.8 percent to 100,490 in August compared to 91,533 in July, but was still lower than the 139,045 completed applications in August 2010.

Purchase money mortgages accounted for 75.4 percent of all completed FHA insured loans in August with 75,798 completed, an increase of 10.9 percent from July, but still 15.1 percent lower than the 89,322 mortgages in August 2010.

The average FICO score for a homebuyer securing an FHA loan in August was 697, down from 699 in July and unchanged from a year ago. For refinanced transactions, the average FICO score in August was 695, while the average score a year earlier was 698.

At the end of August, the FHA had 7,259,736 insured single-family mortgages in its portfolio with an amortized balance of $1,012.8 billion.

The serious delinquency rate, homes that were 90 days or more past due, was 8.4 percent in August, up from 8.3 percent in July, but down from 8.5 percent in August 2010.

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

Source:
HUD

HOME LOANS CAN
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September 20, 2011 (Shirley Allen)

Refinance loan applications increased by 60.1 percent from July to August with a total of 49,773 applications submitted in August compared to 31,081 submitted in July.

Purchase applications were slightly lower than the 86,569 applications that were submitted in August 2010.

The number of completed FHA insured loans increased 9.8 percent to 100,490 in August compared to 91,533 in July, but was still lower than the 139,045 completed applications in August 2010.

At the end of August, the FHA had 7,259,736 insured single-family mortgages in its portfolio with an amortized balance of $1,012.8 billion.

The serious delinquency rate, homes that were 90 days or more past due, was 8.4 percent in August, up from 8.3 percent in July, but down from 8.5 percent in August 2010.

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

Source:
HUD

HOME LOANS CAN BE CONFUSING

YOU'VE GOT QUESTIONS

WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?

DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?

WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?

WE MAKE IT SIMPLE

WE'VE GOT ANSWERS

CALCULATE YOUR MORTGAGE PAYMENT

BENEFITS OF REFINANCING YOUR MORTGAGE

ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN

INSIDER CAR BUYING TIPS

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.

BUYING VS LEASING

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.

DEALER OR BANK FINANCING

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 ON THE INTERNET

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.

AUTO LOAN CALCULATOR

Calculate how much you can afford

BUYING OR SELLING A HOME
IS A BIG DECISION

WE MAKE IT EASIER

HOME BUYING TIPS

HOME SELLING TIPS

SEARCH FOR A HOME

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

September 20, 2011 (Shirley Allen)

Refinance loan applications increased by 60.1 percent from July to August with a total of 49,773 applications submitted in August compared to 31,081 submitted in July.

Purchase applications were slightly lower than the 86,569 applications that were submitted in August 2010.

The number of completed FHA insured loans increased 9.8 percent to 100,490 in August compared to 91,533 in July, but was still lower than the 139,045 completed applications in August 2010.

At the end of August, the FHA had 7,259,736 insured single-family mortgages in its portfolio with an amortized balance of $1,012.8 billion.

The serious delinquency rate, homes that were 90 days or more past due, was 8.4 percent in August, up from 8.3 percent in July, but down from 8.5 percent in August 2010.

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

Source:
HUD

HOME LOANS CAN BE CONFUSING

YOU'VE GOT QUESTIONS

WHAT TYPE OF MORTGAGE LOANS ARE AVAILABLE?

DO I QUALIFY FOR A GOVERNMENT INSURED LOAN?

WHAT CAN I EXPECT FOR A MORTGAGE INTEREST RATE?

WE MAKE IT SIMPLE

WE'VE GOT ANSWERS

CALCULATE YOUR MORTGAGE PAYMENT

BENEFITS OF REFINANCING YOUR MORTGAGE

ADVANTAGES OF GETTING PRE-APPROVED FOR A LOAN

THINKING OF BUYING
A NEW CAR?

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

INSIDER CAR BUYING TIPS

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.

BUYING VS LEASING

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.

DEALER OR BANK FINANCING

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 ON THE INTERNET

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.

AUTO LOAN CALCULATOR

Calculate how much you can afford

BUYING OR SELLING A HOME IS A BIG DECISION

WE MAKE IT EASIER

HOME BUYING TIPS

HOME SELLING TIPS

SEARCH FOR A HOME

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