Mortgage Industry Blog

Purchase Points Purchase points, also known as a "buy-down" or "discount points," are an up-front fee paid to the lender at closing to buy-down or lower your interest rate over the life of the loan. Each point is equal to one percent of your total loan amount. If you have a $100,000 loan, one poi...

Americans are getting back to work. Sort of. This morning, at 8:30 AM ET, the Bureau of Labor Statistics released its Non-Farm Payrolls report for January 2011. More commonly called "the jobs report", the government's data showed a large decrease in the number of working Americans as compared to ...

http://www.msnbc.msn.com/id/32545640 In December, home sales reached an 8-month high, recovering from the losses of last summer. Market momentum is positive across South Carolina , but that doesn't mean every home is selling quickly - only some of them are. So, if you're a home seller and want (o...

   Another day, another strong report for housing. The Pending Home Sales Index climbed 2 percent in December, according to the National Association of REALTORS®. A "pending home sale" is an existing home under contract to sell, but not yet closed. Pending Home Sales are up for the fifth time in...

What is a Real Estate Appraisal? Appraisal is a document that gives an estimate of a property's fair market value. An appraisal ascertains the market value of a property. The appraisal is performed by an "appraiser" who is typically a state-licensed individual trained to use existing data to come...

The Pending Home Sales Index moved higher in March as home sales were spurred by low mortgage rates and an expiring tax credit. A "pending home" is a property that is under contract to sell, but not yet closed. March marks the second straight month in which the Pending Home Sales Index improved ...

Mortgage markets improved last week on tame inflation data, a benign statement from the Federal Reserve, and ongoing credit problems in Greece. The factors combined to drop conforming mortgage rates in Greenville to their lowest levels in 6 weeks. It's an unexpected development considering that m...

Mortgage markets improved last week on tame inflation data, a benign statement from the Federal Reserve, and ongoing credit problems in Greece. The factors combined to drop conforming mortgage rates in Greenville to their lowest levels in 6 weeks. It's an unexpected development considering that m...

Mortgage rates and home affordability have improved lately, thanks to an unlikely ally - Mother Nature. In the 7 days since Iceland's Eyjafjallajökull erupted, ash clouds have grounded planes, disrupted businesses, and stranded exports in warehouses worldwide. It's a drag on commerce that's spill...

  Home values fell again in January, according to the Federal Home Finance Agency's Home Price Index. Values were reported down 0.6 percent, on average. We say "on average" because the Home Price Index is a national report. It doesn't capture the essence of a local market , or even a city market ...