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Re-finance Demand Affected by Tight Credit & Falling Home ValuesThis is a discussion on Re-finance Demand Affected by Tight Credit & Falling Home Values within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; The Mortgage Bankers Association (MBA) today launched its Weekly Mortgage Programs Survey for that week ending May 27, 2011. The ... |
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| Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower. |
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06-06-2011, 02:18 AM
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Re-finance Demand Affected by Tight Credit & Falling Home Values
The Mortgage Bankers Association (MBA) today launched its Weekly Mortgage Programs Survey for that week ending May 27, 2011.
The MBA's application for the loan survey covers 50 plusPercent of U.S. residential home loan programs taken by mortgage bankers, commercial banks, and thrifts. The information gives economists an overview look at consumer interest in mortgage financial loans. Inside a falling type of loan atmosphere, a trend of growing re-finance programs suggests customers are trying to find out lower monthly obligations. If customers can reduce their monthly loan payment and increase disposable earnings through refinancing, it may be an optimistic for that economy in general (may boost consumer)investing. Additionally, it enables borrowers to pay for lower personal liabilities faster. A trend of decreasing purchase programs suggests buyer demand is diminishing. 
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| Tags |
| affected, credit, demand, falling, home, refinance, tight, values |
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