Average Credit Score for Mortgage Drops
There is finally proof that mortgage guidelines are loosening. The average credit score for new borrowers being approved for a mortgage has decreased to 724. This is a 21 point decrease from one year ago according to Ellie Mae.Homebuyer Education
The Homebuyer Education class at the Realtor Association of Greater Fort Myers and the Beach for the month of April will be held on April 12 due to the Easter Holiday. To sign up click the following link:...Monday Mortgage Recap
Last week mortgage rates continued their slight increase. The GDP number was revised downward to 2.4% which indicated the economy is still growing slowly which is as expected. There wasn’t much economic news released last week. This week should see more updates as it is the beginning of a new month. See current information at the Wall Street Journal Market Data...Monday Mortgage Recap
Last week mortgage rates moved up slightly again. The Fed released their meeting minutes which revealed that the economy is still growing slowly which is as expected. Existing Home Sales and Housing Start data revealed that the housing sector is slowing down but prices are still on the rise. Look for rates to remain fairly stagnant with slight moves each way depending on the reported data. See current information at the Wall Street Journal Market Data...Connect With Us
