Credit and Loans

Survey finds Homebuyers not shopping for best mortgage rates and terms

Paying the Bills - BSN

(Best Syndication News) - A study conducted by the Federal National Mortgage Association (OTC:FNMA) found that many homebuyers in the United States do not shop around enough to save money on their mortgage. The November 2012 National Housing Survey Topic Analysis Report found that consumers could save money and get a more financially stable mortgage if they shopped more carefully.

Fannie Mae Chief Economist Doug Duncan said buyers often do not completely understand the details and the costs involved. Some homebuyers may even be surprised to find that their budgets were unrealistic when they couldn’t afford the payments later on.

Current Mortgage Rates Today – SunTrust and U.S. Bank lower their loan rates

VA Mortgages

(Best Syndication News) Mortgage interest rates continued to fall today as secondary lenders adjusted to the shifting capital markets (see the mortgage rate charts below). JPMorgan Chase, SunTrust, Bank of America, and U.S. Bank were among the banks following a downward trend.

Benchmarks

Stocks nose-dived again as investors shifted their focus from Greece to the United States. The prospect of failed budget negotiations weighted heavy on equity markets.

Current Mortgage Rates Today – Loans lower at PNC and Citibank

FHA chart

(Best Syndication News) Mortgage interest rates were lower today as lenders adjusted their loan products to the changing secondary market (see the mortgage rate charts below). U.S. Bank, SunTrust, PNC, and Citibank were among the banks making changes.

Benchmarks

New concerns over the fiscal cliff and European debt pushed equities lower Monday as money moved into the safe-havens. The estimated losses to consumer spending could eclipse all of the expenditures made during the Black Friday weekend if the country tumbles off the cliff.

Current Mortgage Rates Today – Conventional loans higher

FRM

(Best Syndication News) Mortgage interest rates are higher today as capital markets take on riskier investments (see the mortgage rate charts below). SunTrust and Bank of America raised their base rate, while JPMorgan also made changes.

Benchmarks

Stocks were higher again Black Friday as investors anticipate an excellent shopping season. Sales are expected to increase four percent this year, according to the National Retail Federation. Many stores, including Wal-Mart, Target, Toys-R-Us, and K-Mart, were open late Thanksgiving Day this year.

Current Mortgage Rates Today – SunTrust and U.S. Bank make changes

Graph of 15-Year Rates

(Best Syndication News) Mortgage interest rates trended higher today as lenders adjusted their loan products to the changing benchmarks (see the mortgage rate charts below). Most lenders, including KeyBank, JPMorgan Chase, PNC and U.S. Bank, raised their rates, while SunTrust and Bank of America lowered them.

Benchmarks

Stock markets closed higher Wednesday on a light holiday trading day. Black Friday sales are starting earlier than ever this year, with many stores opening Thanksgiving evening. Wal-Mart, Sears, and K-Mart opened at 8pm while Target opened at 9pm.

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