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Prepayment Rates Increase Significantly
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
Prepayment Rates Increase Significantly
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
Prepayment Rates Increase Significantly

October 16, 2012 (Shirley Allen)

Prepayment rates, a key indicator of refinance activity, showed a significant increase in August according to Lender Processing Services (LPS) Mortgage Monitor report for August with refinancing rates even surpassing those in the refinance waves in 2009 and 2010.

Prepayment activity not only increased among normal conforming loans with a loan-to-value (LTV) ratio of 80 percent or below, but there was also a 65 percent increase in loans with a LTV of 120 percent and above due to the impact of the Home Affordable Refinance Program (HARP).

Mortgage delinquencies declined for a second consecutive month in August, falling 2.3 percent from July while year-over-year, mortgage delinquencies have fallen by 10.6 percent.

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, declined from 7.03 percent in July to 6.87 percent in August. The delinquency rate was 10.6 percent lower than what it was in August 2011.

The foreclosure inventory also continued to decrease in August to a total of 2.020 million properties, down from 2.042 million properties in July, a decline of 22,000 properties. The foreclosure inventory was 2.0 percent lower than a year ago.

The number of properties in the shadow inventory also declined, falling from 1.560 million properties in July to 1.520 million properties in August, a decrease of 40,000 properties.

The total number of properties that were either delinquent or in some stage of foreclosure declined from 5.562 million in July to 5.450 million in August.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 6.87% compared to 7.03% in July 2012

Month-over-month change in delinquency rate: -2.3% compared to -1.6% in July 2012

Year-over-year change in delinquency rate: -10.6% compared to -11.0% in July 2012

Total U.S foreclosure pre-sale inventory rate: 4.04% compared to 4.08% in July 2012

Month-over-month change in foreclosure presale inventory rate: -1.0% compared to -0.2% in July 2012

Year-over-year change in foreclosure presale inventory rate: -2.0% compared to -0.9% in July 2012

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,430,000 compared to 3,520,000 in July 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,520,000 compared to 1,560,000 in July 2012

Number of properties in foreclosure pre-sale inventory: (B) 2,020,000 compared to 2,042,000 in July 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,450,000 compared to 5,562,000 in July 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NV, NJ, IL in July 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, WY, SD, ND in July 2012)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

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
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
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

October 16, 2012 (Shirley Allen)

Prepayment rates, a key indicator of refinance activity, showed a significant increase in August according to Lender Processing Services (LPS) Mortgage Monitor report for August with refinancing rates even surpassing those in the refinance waves in 2009 and 2010.

Prepayment activity not only increased among normal conforming loans with a loan-to-value (LTV) ratio of 80 percent or below, but there was also a 65 percent increase in loans with a LTV of 120 percent and above due to the impact of the Home Affordable Refinance Program (HARP).

Mortgage delinquencies declined for a second consecutive month in August, falling 2.3 percent from July while year-over-year, mortgage delinquencies have fallen by 10.6 percent.

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, declined from 7.03 percent in July to 6.87 percent in August. The delinquency rate was 10.6 percent lower than what it was in August 2011.

The foreclosure inventory also continued to decrease in August to a total of 2.020 million properties, down from 2.042 million properties in July, a decline of 22,000 properties. The foreclosure inventory was 2.0 percent lower than a year ago.

The number of properties in the shadow inventory also declined, falling from 1.560 million properties in July to 1.520 million properties in August, a decrease of 40,000 properties.

The total number of properties that were either delinquent or in some stage of foreclosure declined from 5.562 million in July to 5.450 million in August.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 6.87% compared to 7.03% in July 2012

Month-over-month change in delinquency rate: -2.3% compared to -1.6% in July 2012

Year-over-year change in delinquency rate: -10.6% compared to -11.0% in July 2012

Total U.S foreclosure pre-sale inventory rate: 4.04% compared to 4.08% in July 2012

Month-over-month change in foreclosure presale inventory rate: -1.0% compared to -0.2% in July 2012

Year-over-year change in foreclosure presale inventory rate: -2.0% compared to -0.9% in July 2012

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,430,000 compared to 3,520,000 in July 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,520,000 compared to 1,560,000 in July 2012

Number of properties in foreclosure pre-sale inventory: (B) 2,020,000 compared to 2,042,000 in July 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,450,000 compared to 5,562,000 in July 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NV, NJ, IL in July 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, WY, SD, ND in July 2012)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

HOME LOANS CAN BE CONFUSING
YOU'VE GOT QUESTIONS
WE MAKE IT SIMPLE
WE'VE GOT ANSWERS
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
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 SELLING TIPS
If you are thinking of selling your home, chances are you’re caught up in a mass of emotions. Needs change and although you may be looking forward to this new adventure, you'll probably find yourself reluctant to leave your memories behind and face the overwhelming task of selling your home and moving.
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

October 16, 2012 (Shirley Allen)

Prepayment rates, a key indicator of refinance activity, showed a significant increase in August according to Lender Processing Services (LPS) Mortgage Monitor report for August with refinancing rates even surpassing those in the refinance waves in 2009 and 2010.

Prepayment activity not only increased among normal conforming loans with a loan-to-value (LTV) ratio of 80 percent or below, but there was also a 65 percent increase in loans with a LTV of 120 percent and above due to the impact of the Home Affordable Refinance Program (HARP).

Mortgage delinquencies declined for a second consecutive month in August, falling 2.3 percent from July while year-over-year, mortgage delinquencies have fallen by 10.6 percent.

The percentage of loans that were 30 days or more past due, but not yet in foreclosure, declined from 7.03 percent in July to 6.87 percent in August. The delinquency rate was 10.6 percent lower than what it was in August 2011.

The foreclosure inventory also continued to decrease in August to a total of 2.020 million properties, down from 2.042 million properties in July, a decline of 22,000 properties. The foreclosure inventory was 2.0 percent lower than a year ago.

The number of properties in the shadow inventory also declined, falling from 1.560 million properties in July to 1.520 million properties in August, a decrease of 40,000 properties.

The total number of properties that were either delinquent or in some stage of foreclosure declined from 5.562 million in July to 5.450 million in August.

Earlier highlights from LPS’s “First Look” report include:

Total U.S. loan delinquency rate (loans 30 or more days past due, but not in foreclosure): 6.87% compared to 7.03% in July 2012

Month-over-month change in delinquency rate: -2.3% compared to -1.6% in July 2012

Year-over-year change in delinquency rate: -10.6% compared to -11.0% in July 2012

Total U.S foreclosure pre-sale inventory rate: 4.04% compared to 4.08% in July 2012

Month-over-month change in foreclosure presale inventory rate: -1.0% compared to -0.2% in July 2012

Year-over-year change in foreclosure presale inventory rate: -2.0% compared to -0.9% in July 2012

Number of properties that are 30 or more days past due, but not in foreclosure: (A) 3,430,000 compared to 3,520,000 in July 2012

Number of properties that are 90 or more days delinquent, but not in foreclosure: 1,520,000 compared to 1,560,000 in July 2012

Number of properties in foreclosure pre-sale inventory: (B) 2,020,000 compared to 2,042,000 in July 2012

Number of properties that are 30 or more days delinquent or in foreclosure: (A+B) 5,450,000 compared to 5,562,000 in July 2012

States with highest percentage of non-current* loans: FL, MS, NJ, NV, IL (FL, MS, NV, NJ, IL in July 2012)

States with the lowest percentage of non-current* loans: MT, AK, SD, WY, ND (MT, AK, WY, SD, ND in July 2012)

*Non-current totals combine foreclosures and delinquencies as a percent of active loans in that state.

Notes:
(1) Totals are extrapolated based on LPS Applied Analytics’ loan-level database of mortgage assets.
(2) All whole numbers are rounded to the nearest thousand.

Tags: LPS, mortgage delinquency rate, foreclosure inventory, non-current loans

Source:
LPS

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
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.
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

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