The transaction includes about 123 loans and is expected to close by August
Refi activity also rose to 46.6% of total mortgage applications from 45.4%
If you’re in any stage of the mortgage closing process, then you are probably familiar with the notion that the world of home mortgage is a confusing, frustrating and sometimes downright illogical world. In order to combat all that confusion, frustration and illogical train of thought, it will do you a bit of good to truly understand the mortgage market and understand the whole mortgage closing process.
The cost of real estate has always been higher in major cities, but over the last decade this has caused many homeowners to seek less expensive housing alternatives. Those who are still living in a major city, however, are able to take advantage of the still unstable housing market.
After inheriting the worst economic downturn since the Great Depression, President Obama poured vast amounts of money into efforts to stabilize the financial system, rescue the auto industry and revive the economy.