| Mortgage applications fall for 2nd straight week
WASHINGTON -- Mortgage applications in the U.S. fell for the second week in a row last week as fewer homeowners refinanced, an industry report showed Wednesday.
The Mortgage Bankers Association's index of applications to buy a home or refinance a loan slipped 0.2 percent last week to 671 from 672.1 the prior week. Home-purchase applications rose 0.1 percent, while the group's index of refinancing posted the first back-to-back decline this year.
Purchase applications, while up from a three-year low in October, are at about the same level as a year ago. The numbers point to limited demand and a drag on economic growth as prices decline amid a glut of unsold homes.
"There's a lot more downside to come for home prices, which in turn will trigger more weakness in the housing market," said Michael Gregory, a senior economist at BMO Capital Markets in Toronto.
CT CAPITAL, Florida Hard Money Lender offers short term bridge ...
/24-7PressRelease/ - FORT LAUDERDALE, FL, March 16, 2007 - CT Capital offers bridge loans for non-conforming, residential (non-owner occupied) and commercial real estate projects. We are a hard money lender working directly with the public. As a licensed Florida Mortgage Lender we review, accept, fund and service our own loans. Institutionally backed, CT Capital is able to offer rates & terms that are unavailable to other lenders. This vast funding capability enables us to provide funding immediately. CT Capital is located in Fort Lauderdale, Florida and serves brokers and borrowers across the state. As a direct lender and seasoned real estate investor, we offer many services which others are unable to provide. .
Moneyfacts.co.uk: Nationwide BS 25 year fixed rate mortgage
Julia Harris, mortgage analyst at moneyfacts.co.uk, comments: “The new Nationwide 25-year fixed rate mortgage is competitive when compared with other long-term fixed rates, particularly for those with a 10% deposit. It comes with a fee of £599 (and a £200 discount for existing members), which is not out of line, especially when you take into account some of the four figure or percentage based fees that we are now seeing for short term deals.
“It is refreshing to see that the mortgage is fully flexible and, more importantly that it does not charge a redemption fee after the first 10 years. So although the rate is guaranteed for the full 25 years, if after 10 years rates have fallen or your circumstances mean a different deal is preferable, you are free to change provider without financial penalty.
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