Home Purchase Apps Increase, Refinances Slip as Rates Edge Up

Home Purchase Apps Increase, Refinances Slip as Rates Edge Up The Mortgage Bankers Association (MBA) reported Wednesday that its index of home purchase applications jumped 6.3 percent for the week ending September 3, 2010, reaching its highest level since the end of May. Michael Fratantoni, MBA’s VP of research and economics, noted the rise in …

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Reform bill retools lending policies

The Senate passed the financial regulation bill today, which will impact home buyers and lending guidelines. Chief among the changes impacting consumers is the creation a consumer bureau at the Federal Reserve and the requirement that lenders ensure a borrower is able to repay a home loan by verifying income, employment, and credit history. MAKING …

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