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"WASHINGTON (AP) — Long-term U.S. mortgage rates jumped this week, reaching their highest levels since late June amid indications of strength in the economy. Mortgage giant Freddie Mac says the average for a 30-year fixed-rate mortgage rose to 3.54 percent from 3.47 percent last week. Rates remain near historically low levels, however. The benchmark 30-year rate is down from 3.87 percent a year ago. Its all-time low was 3.31 percent in November 2012. The 15-year fixed-rate mortgage, popular with homeowners who are refinancing, increased to 2.84 percent from 2.78 percent.", www.houstonchronicle.com
"Fannie said it expects to remain profitable on an annual basis for the foreseeable future, but factors such as changes in interest rates or home prices could lead to widely varying financial results from quarter to quarter or year to year. Record-low interest rates this year have helped spur home purchases and boost the housing market. On Tuesday, Freddie reported net income of $2.3 billion for the third quarter, following a net loss of $475 million a year earlier, as its fees from lenders for backing mortgages increased and the impact of interest rates moderated. Despite the low mortgage rates that could lure prospective homebuyers, the market has remained hampered by tight mortgage credit, rising home prices and stagnating incomes.", www.seattlepi.com
"Mortgage giant Fannie Mae reported its third quarter net income today that’s slightly increased from the second quarter and from last year. The government-sponsored enterprise posted profits every quarter this year and last and sees no near-term end to conservatorship. 'Our senior preferred stock purchase agreement with Treasury also includes covenants that significantly restrict our business activities,' the company said in its report. The company reported a third-quarter net income of $3.2 billion and comprehensive income of $3 billion during the third quarter. This is up . . .", www.housingwire.com
"Real estate agents, lenders, and others in the housing industry agree that buyers are taken much more seriously when they are pre-approved, but those who have gained this status may find that they lose it if their financial situation changes.", www.foxbusiness.com
"Real estate agents, lenders, and others in the housing industry agree that buyers are taken much more seriously when they are pre-approved, but those who have gained this status may find that they lose it if their financial situation changes. If that time period expires, the borrower will have to supply the lender with new paperwork. If that paperwork doesn't show the same income and assets as the originals, the lender may not renew the pre-approval. If the borrower's credit score or financial situation changes between being pre-approved and the final check by the lender, it is possible they will rescind the approval.", www.mysanantonio.com
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