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Capital Markets Update – Housing Starts Down 557K
Mortgage Applications Continue Upward Climb
Capital Markets Update – Full week of Economic & Earnings Releases Ahead
How to Improve Your Home on a Budget
Capital Markets Update – Continuing Unemployment Claims Fall While Initial Claims Rise
5 Ways to Avoid Foreclosure
Capital Markets Update – Lower Bond Pricing From Concerns of Inflation
10 Common Credit Report & Credit Score Myths
Capital Markets Update – Treasury Scheduled to Auction $40 Billion
5 Things to Check Before You Refinance

Capital Markets Update – Housing Starts Down 557K ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a><h3>Quicken Loans Capital Markets Update for January 20, 2010</h3> The Treasury market lost some ground yesterday as stocks, notably health care shares, rallied on the hopes that a Republican victory in the Massachusetts Senate race would slow down, maybe even scuttle health care reform. In terms of economic releases this morning, housing starts were down 557,000 in the month, with the weakness concentrated in single family units, which are considered the core of the report. Bonds are up on the release.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

Mortgage Applications Continue Upward Climb ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a>Last week, the number of Americans applying for mortgages increased 9.1 percent when compared to the week prior, according to a report released today by the Mortgage Bankers Association (MBA). The study showed refinance applications surged nearly 11 percent, while applications from those seeking to purchase a home also climbed 4.4 percent. According to Quicken Loans Chief Economist Bob Walters, activity remains strong, even in the face of tight credit conditions. “Mortgage applications have remained strong, buoyed by rates that are holding at historically low levels. The protracted run of increased application activity has to be seen as a very positive sign considering the tight credit conditions the mortgage market is facing,” Walters said.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

Capital Markets Update – Full week of Economic & Earnings Releases Ahead ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a><h3>Quicken Loans Capital Markets Update for January 19, 2010</h3> The shortened workweek is full of economic and earnings releases. The NAHB Index for January is expected to show a slight improvement in conditions. On Wednesday, we have PPI and Housing Starts followed by Jobless Claims and the Philly Fed Index on Thursday.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

How to Improve Your Home on a Budget ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a>For most of us who are <a href="https://www.quickenloans.com/mortgage-news/buying-a-house-in-a-hurry-the-first-time-home-buyer-tax-extension-5803">first-time home buyers</a>, home improvement isn’t something we have experience in – nor do we have thousands of dollars to spend on construction crews. And chances are your first home is not perfect, which means you’ll want to make a few changes to suit your needs. So how can you do <a href="https://www.quickenloans.com/mortgage-news/10-cheap-ways-to-increase-your-home-s-value-5735">home improvement for cheap</a>? And where do you even begin? Lastly, what improvements will help you get the biggest return on investment? Luckily for all those answers and more, here are some simple (albeit labor intensive) solutions to all of your first-time home owner questions. The first thing to keep in mind when you do renovations is to not price out the house or the neighborhood. If the neighbors don’t have in-ground pools, Jacuzzis, and built in saunas, then chances are you won’t get the return on investment for adding that to your home either. This same theory applies to the type of countertops, appliances, and building materials you use. Once you decide which rooms you want to renovate, the key is to find building materials that match the pricing for the neighborhood. After all, you don’t want your home to look too cheap or expensive compared to the rest of the block. For actual renovations, my personal experience is that you don’t necessarily need to hire everything out. For home improvements that have room for mistakes, like ones that don’t entail messing with the gas lines, you can do yourself relatively easily. All you need is internet at the house, and learning how to Google for the rest. Not what you expected? Or maybe this sounds unhelpful? Truthfully, you really can learn nearly everything from watching instructional YouTube videos, and reading blogs and construction websites on how to do home improvement. The first few steps may seem unnerving, but soon you’ll feel more comfortable with tearing apart cabinetry, installing new ones, and removing walls. Begin with small and safe projects like painting, and maybe refinishing a floor. Then eventually, if you feel more confident, research thoroughly – then go for it. The truth is you can save thousands of dollars by doing the work yourself. And being a homeowner does mean quite a bit of maintenance anyway, so learning along the way doesn’t hurt. While construction can seem difficult for anyone who has never done this type of work, a majority of it doesn’t really require skill as much as the ability to lift heavy building materials. Double check all of your measurements before cutting into something, and home improvement will only seem easier as time goes on.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

Capital Markets Update – Continuing Unemployment Claims Fall While Initial Claims Rise ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a><h3>Quicken Loans Capital Markets Update for January 14, 2010</h3> Treasury and mortgage bond prices are slightly higher this morning ahead of the week’s final Treasury auction. Today’s December retail sales report was expected to increase following November’s strong reading. The reading was worse than expected which is helping to support bonds this morning. Also, today’s weekly initial unemployment claims report was expected to creep higher while this week’s continuing claims report was expected to fall. Initial unemployment crept higher and this week’s continuing claims report fell, both moves were more than expected.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

5 Ways to Avoid Foreclosure ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a>With the <a href="http://www.huffingtonpost.com/2010/01/14/record-year-for-foreclosu_n_422945.html">Huffington Post</a> reporting a record 2.8 million households threatened by foreclosure in 2009, many homeowners are still facing rough times with the economy. While the housing market is still recovering slowly, there are some steps you can take to protect your family from this crisis. <ol> <li>Do you find yourself barely making your mortgage payments? Or maybe the payments are just a little too high for comfort? Look into Obama’s <a href="https://www.quickenloans.com/mortgage-options/obama-making-home-affordable">loan modification program</a> called Making Home Affordable to see if you qualify. It’s better to begin the process now rather than wait until you’re more strapped for cash.</li> <li>If you know you cannot make this month’s mortgage payment, don’t give up and talk to your lender. Often lenders will work with you if you are behind on a payment or two. Foreclosures cause lenders to lose money in this economy, and both parties want to prevent this if at all possible.</li> <li>If you’re in an <a href="https://www.quickenloans.com/home-loans/adjustable-rate-mortgage">ARM mortgage</a>, rates have been adjusting down recently. But once they begin adjusting up, look into <a href="https://www.quickenloans.com/refinance/lower-payment">refinancing</a> into a <a href="https://www.quickenloans.com/home-loans/30-year-fixed">fixed mortgage</a>. Be sure to watch the market for changes in <a href="https://www.quickenloans.com/mortgage-rates">mortgage rates</a>, and keep updated with the current mortgage and economic news.</li> <li>If you are not in danger of foreclosure, and are on time with all your payments, now is a good time to begin scraping for that emergency fund. Families are recommended to save 3-6 months of expenses for their rainy day fund. This way, if a spouse loses a job, you’ll still be able to stay afloat for some time and still make your payments.</li> <li>Lastly, if you cannot afford your home due to a loss of a job or a family disaster, look into selling your home as a <a href="https://www.quickenloans.com/mortgage-news/how-do-short-sales-work-5764">short sale</a>. This is a compromise between the Lender and the homeowner, for the bank to agree to a loss from the sale if the house does not appraise for the loan amount.</li> </ol>This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

Capital Markets Update – Lower Bond Pricing From Concerns of Inflation ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a><h3>Quicken Loans Capital Markets Update for January 13, 2010</h3> Both of the Treasury auctions this week have had strong demand, however government bond prices are slightly lower this morning as the market awaits another large Treasury auction and is concerned about the prospect of rising inflation spurring rising rates. Today the Treasury will be auctioning $21 billion of 10-year notes. The Beige Book Report will also be released later this afternoon. The Beige Book Report is a summary of twelve district reports on current economic conditions, compiled by a designated Federal Reserve Bank from bank and branch directors and interviews.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

10 Common Credit Report & Credit Score Myths ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a>Credit has its fair share of myths, legends and misinformation. Pile on top the proprietary nature of credit scores, the formulas for which are closely guarded secrets, and navigating the credit waters becomes even more confusing. Time to dispel some common myths about credit reports, credit scores and credit cards: 1. Pulling your credit report will hurt your credit score. When you pull your credit report for your own educational purposes, it’s considered a “soft inquiry” and will NOT affect your credit score. On the other hand, when a creditor or lender pulls your credit report for the purpose of extending you credit or a loan, it’s a “hard inquiry” and may negatively impact your credit score. (<a href="http://blog.quizzle.com/2008/06/how-do-credit-inquiries-affect-your-credit-score/">Learn more about credit inquiries</a>.) 2. Your income is factored into your credit score. Your salary has nothing to do with your credit report and credit score. You may make a solid living, but that doesn’t necessarily mean you have good credit. 3. Closing a credit card account will help your credit score. When you close a credit card account, you may be affecting your “credit utilization.” Credit utilization is simply how much credit you use (total of all balances) compared to how much credit is available to you (total of all credit limits). When you close an account, you’re lowering the amount of credit that’s available to you, which may increase your credit utilization percentage. A higher credit utilization may negatively impact your credit score, as it suggests to a creditor or lender that you’re a higher risk. 4. There’s only one credit score that all creditors and lenders use to determine your credit-worthiness. The truth is there are a lot of credit scores out there. And on top of the different credit scores that are available, there are different credit reports on which a credit score can be based. 5. If you pay all your bills on time, there’s no need to check your credit report. It’s important to check your credit report regularly no matter what your situation to make sure the information on your credit report is accurate. Mistakes are made, inaccurate information is reported and if you’re not on top of it, your credit score may suffer. Check your credit at least every six months at free websites like <a href="https://www.quizzle.com/">Quizzle.com</a>. You’ll get a <a href="https://www.quizzle.com/what-is-quizzle/free-credit-report">free credit report</a> and <a href="https://www.quizzle.com/what-is-quizzle/free-credit-score">free credit score</a>, plus the ability to dispute inaccuracies easily and online. 6. Paying off a past-due account will remove that item from your credit report. Negative information – like late payments and collections – can stay on your credit report for up to seven years from the date of the initial missed payment. Some bankruptcies can stay on your credit report for up to 10 years from the date the bankruptcy was filed. When you pay off an account that was previously past due, your credit report will be updated to reflect that you’re current on the account. And as time goes on, the negative information will have less of an effect on your credit score. However, as the purpose of a credit report is to keep a tally of your credit history and how reliably you’ve managed your credit, that information will stay put for seven years in most cases. 7. Your checking, savings and investment accounts impact your credit score. Checking, savings and investments do not show up on your credit report unless perhaps you are delinquent with a payment or past due on monies owed. 8. Paying cash for everything and not having any credit card debt will ensure a good credit score. Never using credit can actually hurt your credit score. Creditors and lenders often consider people with no debt and no credit cards a higher risk than those who have credit cards and have proven that they’re able to manage their debt responsibly. 9. Small debts like library fines, unpaid parking tickets and utility bills don’t affect your credit score. It’s not uncommon for libraries to turn over even small unpaid debts to collections agencies, which can wind up on your credit report and significantly impact your credit score. And more and more, utility companies are regularly reporting to credit bureaus. 10. Debit cards and pre-paid credit cards can help you build credit. Because debits cards and pre-paid credit cards are essentially electronic checks and not an extension of credit, they don’t show up on your credit report. If you’re looking to build credit, using a secured or unsecured credit card responsibly is the best way to go. This article was originally featured on Quizzle.com, the free and easy way to manage your home, money and credit – all in one spot. For more information on how to improve your credit score, check out <a href="https://www.quizzle.com/">Quizzle</a> for a free credit report and free credit score, plus other helpful home, money and credit tools to help you get your finances on track.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

Capital Markets Update – Treasury Scheduled to Auction $40 Billion ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a><h3>Quicken Loans Capital Markets Update for January 12, 2010</h3> Treasury prices are higher this morning following some disappointing earnings results and ahead of today’s 3-year T-note auction. This week’s flood of new debt supply continues this afternoon with the Treasury. It’s scheduled to sell $40 billion in 3-year T-notes. The size of this auction is unchanged from teh previous two monthly 3-year auctions.This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

5 Things to Check Before You Refinance ^

<a href="https://www.quickenloans.com/mortgage-news">Mortgage News</a> from <a href="https://www.quickenloans.com/">Quicken Loans</a>With mortgage rates temporarily low for awhile longer, homeowners are rushing to <a href="https://www.quickenloans.com/refinance/lower-payment">refinance</a>. But before you lock in at a lower rate, here’s a checklist to make sure you’re saving money and getting the best loan for your needs. <ol> <li>First of all, use a <a href="https://www.quickenloans.com/mortgage-calculator/should-you-refinance">refinance calculator</a> to make sure you are saving money. Calculate your break-even point to see if you’re still saving after the closing costs. Check out <a href="https://www.quickenloans.com/mortgage-news/what-everybody-ought-to-know-about-refinance-calculators-5673">What Everybody Ought to Know About Refinance Calculators</a> for more tips on how you can save from refinancing.</li> <li>Check the caps before refinancing into an ARM. Bankrate has a great <a href="http://www.bankrate.com/finance/mortgages/check-caps-floors-before-refinance.aspx">article</a> about caps and floors before you refinance.</li> <li>Evaluate various loan types, including ARMs to see if they are right for your situation. For more information on ARMs, check out <a href="https://www.quickenloans.com/mortgage-news/should-you-refinance-into-an-arm-5866">Should You Refinance Into an ARM?</a></li> <li>Shop around for <a href="https://www.quickenloans.com/mortgage-rates">mortgage rates</a>.</li> <li>Check your score before refinancing, and look for ways to <a href="https://www.quickenloans.com/mortgage-news/looking-to-refinance-check-your-credit-score-first-5894">improve your credit score</a> to get a better rate.</li> </ol>This article is reprinted by permission from <a href="https://www.quickenloans.com/">Quicken Loans</a> © 2010 Quicken Loans Inc. All rights reserved. Continue ...

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