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FHA Mortgage Applications Up Again in February
HOW LOANRATEUPDATE WORKS
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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 Up Again in February
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 Up Again in February

March 27, 2012 (Shirley Allen)

Applications for mortgage loans insured by the Federal Housing Administration (FHA) jumped again in February as both purchase and refinance applications surged during the month according to the agency’s Single-Family Outlook report for February.

A total of 155,248 FHA loan applications were submitted in February, 22.4 percent higher than the 126,835 applications submitted in the previous month. The total number of applications submitted was also higher than in February of last year when 114,215 applications were submitted, a gain of 35.9 percent.

Loan applications for refinancing a current mortgage increased 22.8 percent from January with a total of 73,076 applications submitted in February compared to 59,493 in January. Refinance applications were 91.9 percent higher than in February of last year when 38,076 applications were submitted.

The total number of applications submitted for the purpose of purchasing a home was also higher in February, increasing by 22.5 percent compared to January. A total of 75,377 applications were submitted in February to purchase homes, up from 61,547 applications submitted in January. Purchase applications were 10.9 percent higher than in February of last year when 67,990 applications were submitted.

Completed applications declined 11.2 percent from January to February, falling from 102,011 to 90,561. February’s loan completions were still 2.6 percent higher than the 88,269 loan completed a year ago.

Loans for purchased homes accounted for 55.6 percent of all completed FHA insured loans in February with 50,378 completed, a decline of 18.3 percent from January, but still 7.4 percent higher than the 46,899 purchase money mortgages in February of 2011.

Refinanced loans accounted for 38.4 percent of all completed loans in February, which was 0.8 percent higher than last year. The 34,757 loans completed in February were 1.2 percent lower than in January.

The average FICO score for a homebuyer securing an FHA loan in February was 696, the same as in January but down from 703 a year ago. For refinanced loans, the average FICO score in February was 708, up two from the previous month and up from 706 a year earlier.

The number of seriously delinquent loans insured by the FHA declined in February, falling 1.4 percent from January but still 16.8 percent higher than a year ago.

Loans that were 90 days or more past due fell by 9,940 in February bringing the total number of seriously delinquent loans in the FHA’s portfolio to 723,904. In the last year, the number of seriously delinquent loans has increased by 104,192.

The serious delinquency rate was 9.7 percent in February, down from 9.8 percent in January but up from 8.9 percent in February 2011.

At the end of February, the FHA had 7,494,104 insured single-family mortgages in its portfolio with an amortized balance of $1.048 trillion.

The number of loans insured by the FHA has increased by 8.1 percent in the last year while the amortized balance has increased by 9.5 percent.

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

March 27, 2012 (Shirley Allen)

Applications for mortgage loans insured by the Federal Housing Administration (FHA) jumped again in February as both purchase and refinance applications surged during the month according to the agency’s Single-Family Outlook report for February.

A total of 155,248 FHA loan applications were submitted in February, 22.4 percent higher than the 126,835 applications submitted in the previous month. The total number of applications submitted was also higher than in February of last year when 114,215 applications were submitted, a gain of 35.9 percent.

Loan applications for refinancing a current mortgage increased 22.8 percent from January with a total of 73,076 applications submitted in February compared to 59,493 in January. Refinance applications were 91.9 percent higher than in February of last year when 38,076 applications were submitted.

The total number of applications submitted for the purpose of purchasing a home was also higher in February, increasing by 22.5 percent compared to January. A total of 75,377 applications were submitted in February to purchase homes, up from 61,547 applications submitted in January. Purchase applications were 10.9 percent higher than in February of last year when 67,990 applications were submitted.

Completed applications declined 11.2 percent from January to February, falling from 102,011 to 90,561. February’s loan completions were still 2.6 percent higher than the 88,269 loan completed a year ago.

Loans for purchased homes accounted for 55.6 percent of all completed FHA insured loans in February with 50,378 completed, a decline of 18.3 percent from January, but still 7.4 percent higher than the 46,899 purchase money mortgages in February of 2011.

Refinanced loans accounted for 38.4 percent of all completed loans in February, which was 0.8 percent higher than last year. The 34,757 loans completed in February were 1.2 percent lower than in January.

The average FICO score for a homebuyer securing an FHA loan in February was 696, the same as in January but down from 703 a year ago. For refinanced loans, the average FICO score in February was 708, up two from the previous month and up from 706 a year earlier.

The number of seriously delinquent loans insured by the FHA declined in February, falling 1.4 percent from January but still 16.8 percent higher than a year ago.

Loans that were 90 days or more past due fell by 9,940 in February bringing the total number of seriously delinquent loans in the FHA’s portfolio to 723,904. In the last year, the number of seriously delinquent loans has increased by 104,192.

The serious delinquency rate was 9.7 percent in February, down from 9.8 percent in January but up from 8.9 percent in February 2011.

At the end of February, the FHA had 7,494,104 insured single-family mortgages in its portfolio with an amortized balance of $1.048 trillion.

The number of loans insured by the FHA has increased by 8.1 percent in the last year while the amortized balance has increased by 9.5 percent.

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

March 27, 2012 (Shirley Allen)

Applications for mortgage loans insured by the Federal Housing Administration (FHA) jumped again in February as both purchase and refinance applications surged during the month according to the agency’s Single-Family Outlook report for February.

A total of 155,248 FHA loan applications were submitted in February, 22.4 percent higher than the 126,835 applications submitted in the previous month. The total number of applications submitted was also higher than in February of last year when 114,215 applications were submitted, a gain of 35.9 percent.

Loan applications for refinancing a current mortgage increased 22.8 percent from January with a total of 73,076 applications submitted in February compared to 59,493 in January. Refinance applications were 91.9 percent higher than in February of last year when 38,076 applications were submitted.

The total number of applications submitted for the purpose of purchasing a home was also higher in February, increasing by 22.5 percent compared to January. A total of 75,377 applications were submitted in February to purchase homes, up from 61,547 applications submitted in January. Purchase applications were 10.9 percent higher than in February of last year when 67,990 applications were submitted.

Completed applications declined 11.2 percent from January to February, falling from 102,011 to 90,561. February’s loan completions were still 2.6 percent higher than the 88,269 loan completed a year ago.

Loans for purchased homes accounted for 55.6 percent of all completed FHA insured loans in February with 50,378 completed, a decline of 18.3 percent from January, but still 7.4 percent higher than the 46,899 purchase money mortgages in February of 2011.

Refinanced loans accounted for 38.4 percent of all completed loans in February, which was 0.8 percent higher than last year. The 34,757 loans completed in February were 1.2 percent lower than in January.

The average FICO score for a homebuyer securing an FHA loan in February was 696, the same as in January but down from 703 a year ago. For refinanced loans, the average FICO score in February was 708, up two from the previous month and up from 706 a year earlier.

The number of seriously delinquent loans insured by the FHA declined in February, falling 1.4 percent from January but still 16.8 percent higher than a year ago.

Loans that were 90 days or more past due fell by 9,940 in February bringing the total number of seriously delinquent loans in the FHA’s portfolio to 723,904. In the last year, the number of seriously delinquent loans has increased by 104,192.

The serious delinquency rate was 9.7 percent in February, down from 9.8 percent in January but up from 8.9 percent in February 2011.

At the end of February, the FHA had 7,494,104 insured single-family mortgages in its portfolio with an amortized balance of $1.048 trillion.

The number of loans insured by the FHA has increased by 8.1 percent in the last year while the amortized balance has increased by 9.5 percent.

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