Mortgage

Prospect Mortgage Rolls Out FHA 580 – 639 Program

February 16, 2011

FHA 580-639 FICO Program We continue to lead the industry by providing world-class products and service to our clients! We are committed to extending the opportunity of homeownership through responsible lending that leads to affordable home loans. We offer an FHA program to borrowers with FICO scores between 580 and 639. This means more opportunity [...]

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Three Great CHFA Programs for First Time Home Buyers

September 17, 2010

Three Great CHFA Programs for First Time Home Buyers CHFA (the Connecticut Housing Finance Authority) has been helping first time homebuyers and low and moderate income families get affordable housing in Connecticut for over 40 years, and their mortgage rates have recently fallen below the 4% mark (currently at 3.875%, their lowest rate ever). However, [...]

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Mortgage Rate Update 8/20/2010

August 24, 2010

The economic environment for mortgage rates was little changed this week. Weaker than expected economic data and continued low inflation supported low rates, and investor demand for bonds remained high. As a result, mortgage rates again ended the week a little lower. As the economic recovery has lost steam recently, investors are closely watching for [...]

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Mortgage Rate Update 7/30/10

August 2, 2010

Uncertainty about the pace of the economic recovery pushed mortgage rates down to another record low this week. The economic outlook is for slower than normal economic growth with low inflation, which is favorable for mortgage rates. The risks of a “double dip” recession and deflation also increase demand for relatively safer investments such as [...]

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Mortgage Rate Update 6/18/10

June 19, 2010

Economic data moved mortgage rates this week. Slower than expected economic growth data and tame inflation figures were favorable for mortgage markets. As a result, mortgage rates ended the week lower. Heading into a Fed meeting next week, the low inflation data released this week means that there is little pressure on the Fed to [...]

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Mortgage Rate Updates 6/11/10

June 11, 2010

Global economic news was the primary influence on US mortgage markets this week. While the US data released during the week was mixed, an improved economic outlook in many other countries was unfavorable for bond markets. As a result, mortgage rates ended the week a little higher. In recent weeks, mortgage rates have fallen to [...]

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Mortgage Rate Update 5/17/10

May 17, 2010

The biggest economic news this week was that the EU will provide a much larger aid package than previously announced. On Monday, this news caused investors to move funds to riskier assets and out of safer investments such as bonds. This week’s economic data contained few surprises. Later in the week, successful results for the [...]

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Mortgage Rate Update 5/10/10

May 10, 2010

Despite stronger than expected economic data, the financial situation in Greece held the greatest influence on mortgage rates this week. A flight to quality and prospects of slower economic growth in Europe were favorable for mortgage markets and negative for the stock market, and mortgage rates ended the week lower. Global financial markets remained focused [...]

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Mortgage Rate Update 4/26/10

April 26, 2010

While inflation remained low, stronger than expected economic data released this week was negative for mortgage markets. As a result, mortgage rates ended the week a little higher. The big news in this week’s economic data came from the housing sector. March Existing Home Sales rose 7% from February, and existing home sales were 16% [...]

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Mortgage Rate Update 4/12/10

April 12, 2010

Although this week’s economic data was generally stronger than expected, it was overshadowed by solid demand for the Treasury auctions and intensified concerns about the economic situation in Greece, which helped mortgage markets. After reaching the highest levels since August, mortgage rates ended a little lower than where they ended last week. Recent increases in [...]

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