Neil Coleman Mortgage Matters

Whether you are purchasing a new home or you are considering applying to refinance your home, chances are the lender will require an escrow account. These accounts are often a source of confusion for homeowners. In reality, these accounts benefit the homeowner and help protect the lender. What Is...

MORTGAGE RATES: We will continue to float into next week with prices closing near the session highs. But get your clients ready to lock ahead of next Friday's Jobs Report. MARKET WRAP: Mortgage Bonds took a breather today from their recent run higher closing slightly lower due to a mixed bag of e...

January’s inventory of available pre-owned homes was 1.90 million, which represents a 4.90 month supply at the current sales pace. As a result, existing home sales slowed. Real estate pros look for a 6 to 6.50 month supply of existing homes to balance demand and availability between buyers and ho...

The foreclosure sector of the housing market continues to receive positive news. CoreLogic reported today that there were 48,000 completed foreclosures in January 2014, compared to the 59,000 completed in January 2013, a 19% decline. From December to January, completed foreclosures declined by 11...

Have you been looking through home décor magazines and gazing with wonder at the gorgeous homes inside? Do you want to add a touch of elegance and luxury to your home, but you are on a tight budget? No need to worry, there are many ways that you can make your home look like a million bucks, witho...

The Mortgage Bankers Association (MBA) reported today that its Market Composite Index, a measure of total loan application volume, declined by 8.5% in the latest week. The refinance index fell by 11.4%, which now makes up 58% of mortgage applications, lowest since September 2013. The purchase ind...

Two major indicators of home price trends showed a slowing momentum for home prices in December. The S&P Case Shiller 10 and 20 city indices reported that of 20 cities tracked, home prices were lower in December than for November. Case-Shiller’s seasonally adjusted month-to month reading showed t...

While homeowners typically equate the FHA loan program with low-down payment mortgages, FHA refinances are also available. In addition to rate-and-term and streamline refinances that replace an existing FHA mortgage with a better one, FHA even offers cash-out refinance loans. A cash-out FHA loan ...

Housing data dominated the economic headlines this morning as the sector tries to replicate the big home price gains seen in 2013. The Case Shiller 20-city Home Price Index rose by 13.4% in December 2013 compared to December 2012. That is slightly lower than the 13.7% year-over-year increase seen...

Prices at the pumps continue to rise as the national average price for a regular gallon of gasoline is at $3.41 today, up from $3.28 a month ago. The price is still lower than the $3.77 recorded a year ago. Violence in oil producing nations of Venezuela and South Sudan are a few of the reasons be...