December 28, 2012: “Baby, You’re a Rich Man”, a Wall Street Journal article by Laura Sanders, quoting HSH.com VP Keith Gumbinger:
Conforming loans are mortgages that can be packaged and sold to government-sponsored buyers such as Fannie Mae and Freddie Mac. Home buyers who opt for private mortgages or “jumbo” loans on more expensive properties pay about 0.5 percentage point above the current average of 3.5% for a 30-year fixed-rate mortgage, says Keith Gumbinger of HSH.com, a mortgage-information website.
November 15, 2012: “Two Ways To Knock $50,000 Or More Off Your Mortgage Interest,” a Business Insider article by Casey Bond, quoting HSH.com:
According to HSH.com, the average interest rate for a 30-year fixed mortgage in 2008, just off the heels of the market crash, hovered above 6%. Today, mortgage interest rates for the same term average about 3.4%.
November 09, 2012: “For Housing, Many Signs Still Point Up,” a Wall Street Journal article by Joe Light, quoting HSH.com:
What’s more, with the Federal Reserve pledging to buy mortgage-backed securities for the indefinite future, mortgage rates are likely to stay low at least through the beginning of next year, says Keith Gumbinger of mortgage research firm HSH.com.
November 09, 2012: “Paying Less for a Mortgage,” a Wall Street Journal article by Ruth Simon, quoting HSH.com:
Rates on conforming 15-year fixed-rate mortgages currently average 2.99%, according to mortgage research firm HSH.com, well below the 3.47% average rate on 30-year fixed-rate ones.
November 08, 2012: “Home Buyers Do the Mortgage Time Warp,” a Wall Street Journal article by AnnaMaria Andriotis, quoting HSH.com:
But cash-out refis may require waiting a few months or longer to execute, says Keith Gumbinger, a vice president at mortgage-info website HSH.com.
November 01, 2012: “Are 30-Year Fixed-Rate Mortgages The Best Bargains?” a Investor’s Business Daily article by Marilyn Alva, quoting HSH.com:
“With record-low interest rates, 30-year mortgages are the king of the market,” said Keith Gumbinger, vice president of loan information provider HSH.com. “They appeal to the widest possible audience.”
October 25, 2012: “For a Lower Rate, Let Cash Do the Talking,” a Wall Street Journal article by AnnaMaria Andriotis, quoting HSH.com:
Private jumbo mortgages—starting after $417,000 in most of the U.S. but at $625,501 in some pricier metro areas—charge higher rates than smaller home loans, averaging 4.04% compared with 3.54%, respectively, according to mortgage-info website HSH.com.
October 19, 2012: “Wealthy home buyers return to risky ARMs,” a MarketWatch.com article by AnnaMaria Andriotis, quoting HSH.com:
Rates on a jumbo 5/1 ARM — where the rate remains the same for the first five years and then adjusts annually — average 2.82%, compared with 4.06% on a 30-year fixed-rate jumbo, according to mortgage-info website HSH.com. Over the first five years, borrowers with the 5/1 ARM would save nearly $90,900 in interest on a $1.5 million mortgage compared with a fixed-rate jumbo.
October 18, 2012: “Mortgage rates remain near record lows,” a CNNMoney.com article by Les Christie, quoting HSH.com:
That may be happening already, according to Keith Gumbinger, of mortgage information company HSH.com.
“If the economy continues to show signs of improvement this fall, mortgage rates could firm a little more,” he said. “For that to occur though, we’ll need a lot more evidence that forward momentum is building.”
October 17, 2012: “Home equity loans make a comeback,” a Orange County Register article by Marilyn Kalfus, quoting HSH.com:
And home equity lines of credit don’t come cheap: Average fixed interest rates were 6.68 percent as of Oct. 5, down from 7.06 percent a year ago, according to HSH Associates, which collects data on the mortgage market.
October 13, 2012: “Five issues that could derail your refinancing,” a Reuters article by Chris Taylor, quoting HSH.com:
“Now to get access to the lowest rates, you need a FICO score above 740,” says Keith Gumbinger, VP of mortgage information site HSH.com.
October 13, 2012: “Consumers are flocking to shorter loan terms,” a Boston.com article by Jenifer B. McKim, quoting HSH.com:
Keith T. Gumbinger, vice president of the New Jersey-based mortgage information website HSH.com, said homeowners who bought their homes years ago with a 5 or 6 percent loan can slash years off their mortgage without additional monthly expense.
“Shortening a term, for a lot of borrowers is, frankly, a no-brainer,” Gumbinger said.
October 06, 2012: “As household debt declines, prospective homeowners have a better shot at obtaining the mortgage they want,” a NWI.com article by Marilyn Kennedy Melia, quoting HSH.com:
Lenders offer better rates on mortgages to those with good scores, says Keith Gumbinger of the mortgage data firm, hsh.com. The lower the mortgage rate, the lower the monthly payment, he adds, and that’s a combination that makes home buying easier.
The savings can be significant. For example, just reducing the mortgage rate a quarter of a percentage point from 4.05%—which is the average rate on large private mortgages, according to mortgage-info website HSH.com—to 3.80% would save the borrower roughly $77,500 over the life of a 30-year, $1.5 million mortgage.
October 03, 2012: “Low Rates Fuel Refi Activity, But Will New Mortgage Applications Suffer?” a U.S. News & World Report article by Meg Handley, quoting HSH.com:
“We’ll go through a very quiet period and then things will go gangbusters,” says Keith Gumbinger, vice president of mortgage information website HSH.com.
September 27, 2012: “People are refinancing – again and again,” a USA Today article by Susan Tompor, quoting HSH.com:
“There’s no deadline pressure. The Fed’s not going to increase rates tomorrow afternoon,” said Keith Gumbinger, vice president for HSH.com, a mortgage-information website.
“Not for a bunch of afternoons.”
September 27, 2012: “Mortgage rates hit record low again,” a CNNMoney article by Chris Isidore, quoting HSH.com:
“This is what the Fed wanted to see. So far, so good,” said Keith Gumbinger, vice president of HSH.com, a provider of mortgage information and analysis. He estimates that rates could continue to fall another 0.1 percentage point or so in the coming weeks as the full effect of the Fed action is felt by the market.
September 27, 2012: “HELP DESK: Refinancing your Home,” a 11alive.com article by Don Buckindail, quoting HSH.com:
Rates are at historical lows, but the gap between the best and worst deals can be as much as a full percentage point, according to HSH.com.
September 21, 2012: “14 Laurel Lane in Bernardsville Selling for $824K,” a Patch.com article by Linda Sadlouskos, quoting HSH.com:
One major spur to the market — mortgage rates remain low, with HSH.com reporting 30-year fixed mortgage rates still below 4 percent.
September 20, 2012: “Higher fees proposed on loans in NJ and 4 other states,” a NorthJersey.com article by Kathleen Lynn, quoting HSH.com:
“The loss to investors can be much more severe” in states like these, where foreclosures go through the courts, said Keith Gumbinger of HSH.com, a Riverdale publisher of mortgage information.
September 20, 2012: “Mortgage rates at record low again,” a CNNMoney article by Chris Isidore, quoting HSH.com:
Keith Gumbinger, vice president of HSH.com, a provider of mortgage information and analysis, said he would expect rates will likely go about 0.2 percentage point lower in the coming weeks as the market reacts to the Fed’s mortgage bond purchases.
“I don’t think you’ve seen the full effect of the Fed’s influence in the market yet,” he said. “I think we’ll have to see a slowdown in mortgage applications, working through some of the volume in the pipeline.”
September 14, 2012: “Homeowners Refinancing Again–and Again,” a Credit.com article by Christopher Maag appearing on AOL Real Estate, quoting HSH.com:
“I call it serial refinancing, and yes, I think it’s happening again,” says Keith Gumbinger, vice president of HSH.com, a financial analytics company. “For some people, it makes a lot of sense.
September 10, 2012: “Seniors Are Turning To Risky Reverse Mortgages For Cash,” an article from The Fiscal Times by Sheryl Nance-Nash appearing on Business Insider, quoting HSH.com:
The borrower can then lose their home to foreclosure. “You could leave your heirs in a hole,” says Keith Gumbinger, vice president of HSH.com, a publisher of mortgage and consumer loan information.
August 31, 2012: “Smaller Inventory of Lehigh Valley Homes for Sale,” a Patch.com article by Tom Coombe, quoting HSH.com:
This index measures housing affordability for the region. An index of 120 means the median household income is 120 percent of what is necessary to qualify for the median-priced home under prevailing interest rates. A higher number means greater affordability. The data was compiled based on household income and interest rates from hsh.com and huduser.org.
August 27, 2012: “How to get a jumbo mortgage now,” a MarketWatch.com article by AnnaMaria Andriotis, quoting HSH.com:
Rates on 30-year jumbos now average 4.22%, down from 4.82% a year ago and 5.27% two years ago, according to HSH.com, a website that tracks mortgage data. Those rates are currently about half a percentage point higher than those on regular mortgages; in 2008 and 2009, that spread was more than twice as wide.
August 16, 2012: “Refinancing a Vacation Home,” a New York Times article by Betsy Vereckey, quoting HSH.com:
Lenders typically consider such loans riskier. “In the event of a fiscal problem,” said Keith T. Gumbinger, a vice president of HSH Associates, a financial publisher in Riverdale, N.J., “a homeowner with a primary and secondary residence is far more likely to continue to make payments on the home they live in, rather than the one they visit occasionally.”
Mr. Gumbinger notes, too, that homeowners are less likely to maintain a second home as they do a primary residence, which might affect the home’s value and could mean greater expense for the lender should the property end up in.
July 30, 2012: “As Rates Plummet, Wealthy Indulge in ‘Serial Refinancing,'” a New York Times article by Vickie Elmer, quoting HSH.com:
High-net-worth borrowers with so-called jumbo mortgages, or loans over $625,500, “are famous for serial refinancing,” said Keith Gumbinger, a vice president of HSH.com, a financial publisher in Pompton Plains, N.J. A rate drop of even a quarter of a percentage point, he said, could have a substantial effect.
July 19, 2012: “LI mortgage rates mixed as rates fall nationally,” an Associated Press article quoting HSH.com:
On Long Island, the picture was mixed. The only rate to fall was the 15-year fixed, which dropped to 3.36 percent from 3.39 percent last week, according to figures from HSH Associates at HSH.com, which makes the calculations for Newsday. Two other loans rates rose — the 30-year fixed rate rose to 3.84 percent from 3.73 percent, and the one-year adjustable rate to 3.48 percent from 3.27 percent.
July 13 2012: “Tool helps underwater homeowners assess options,” a MarketWatch article by Lew Sichelman, quoting HSH.com:
As it turns out, there’s an app for that. Well, not an app, per se, but a couple of new mortgage calculators from HSH Associates, the Pompton Plains, N.J.-based publisher of mortgage information, including one that will tell upside-down owners how long it will take to reach a point where what they owe on their loans is once again less than what their homes are worth.
To use the free “KnowEquity When” calculator on the HSH website ( www.hsh.com ), you’ll need to plug in a few basics, such as your original loan amount, the term and interest of the mortgage, and the date of your first payment. After that, a bit of guesswork is required because you’ll also have to enter the home’s current value and expected rate of appreciation. Other than extra payments, those are the only variables, so you can actually come up with several scenarios.
July 13, 2012: “Will the Wells Fargo settlement affect your mortgage?” a Reuters article by Linda Stern, quoting HSH.com (also appearing in the Chicago Tribune):
Consumers can comparison shop for their own loans, either by checking individual lenders or shopping through an aggregation websites like HSH Associates (www.hsh.com) or Mortgage Marvel (www.mortgagemarvel.com).
July 12, 2012: “U.S. Mortgage Rates Decline, With 30-Year at a Record-Low 3.56%,” a Bloomberg article by Noah Rayman, quoting HSH.com:
“We do have a little bit of a firmer housing market,”Keith Gumbinger, a vice president of HSH.com, a mortgage-information website based in Riverdale, New Jersey, said yesterday in a telephone interview. “I don’t think anyone would call it wonderful, but it has improved, or stabilized, over the last few months.”
July 12, 2012: “A Bigger ‘Jumbo’ Market,” a New York Times article by Vickie Elmer, quoting HSH.com:
Other lenders are loosening requirements on self-employed borrowers and even offering interest-only mortgages to borrowers who meet certain income standards, according to Keith Gumbinger, a vice president of HSH.com, a financial publisher in Riverdale, N.J.
July 11, 2012: “Credit-card rates move higher,” a MarketWatch article by AnnaMaria Andriotis, quoting HSH.com:
These higher credit-card rates come as rates on other types of loans are at historic lows. For example, rates on 30-year mortgages average 3.76%, according to HSH Associates, a mortgage-data firm. Rates on many car loans also remain in low single-digit territory.
July 10, 2012: “Renting…For Now,” a Las Vegas Review-Journal article by Marilyn Kennedy Melia, quoting HSH.com:
Right now, most borrowers need at least 10 percent of the purchase price as a down payment to get a conventional mortgage, and a FICO credit score above 700, says Keith Gumbinger of HSH Associates, a mortgage research firm.
If standards relax – and Gumbinger isn’t sure they will by 2015 – borrowers may be able to make just a 5 percent down payment, but unless they have a credit score over 700, they probably won’t qualify for a competitive rate offer.
July 09, 2012: “Refinancing pads banks’ profits,” a Bloomberg article by Dakin Campbell, quoting HSH.com:
About 5.6 million loans will be refinanced this year, said Keith Gumbinger, vice president of HSH Associates, a mortgage-research firm in Pompton Plains, N.J.
June 14, 2012: “Low appraisal can throw wrench into home sale,” an article appearing in The Record:
A weak job market, a sluggish economy and the high level of foreclosure properties headed to market all point to uncertainty about the future path of home prices, said Keith Gumbinger, a vice president at HSH.com, a Pompton Plains, N.J., company that tracks the mortgage market.
May 30, 2012: “The pain in Spain: Europe’s woes are borrowers’ gains,” a USA Today article by John Waggoner, quoting HSH.com:
If Treasury rates remain at current levels, mortgage rates could fall a bit further, says Keith Gumbinger, vice president of HSH.com.
Will rates fall on other consumer loans, such as credit cards, home equity loans and personal loans? “Not a chance,” he says.
“The reward in the end is substantial, provided you can survive the process,” says Keith Gumbinger, a vice president at mortgage-data provider HSH.com.
The average rate on a 30-year fixed-rate conforming mortgage is 3.84%, down from 4.22% in mid-March and the lowest level in at least 60 years, according to HSH.com.
May 24, 2012: “Mortgage Rates for 30-Year U.S. Loans Fall to a Record-Low 3.78%,” a Bloomberg article by Christine Maurus and Prashant Gopal, quoting HSH.com:
“Low mortgage rates are playing an increasingly important support for the housing market,” said Keith Gumbinger, vice president of HSH.com, a mortgage-information website based in Pompton Plains, New Jersey.
May 12, 2012: “After Brunch, Buy Mom a House,” a BaskingRidgePatch article by Linda Sadlouskos, quoting HSH.com:
After all, according to mortgage publishers HSH.com, average mortgage rates Friday for a 30-year fixed mortgage are were a smidgen above 4 percent, with some available at a little under.
May 08, 2012: “Rising Costs Hit Homeowners Chasing Lower Rates,” a Wall Street Journal article by Ruth Simon, quoting HSH.com:
Lenders have also boosted fees to cover the increased cost of doing business, notes Keith Gumbinger, a vice president at HSH Associates. Banks, for instance, now double- and even triple-check key parts of the application, such as borrower income and property valuations.
May 04, 2012: “Vacation Homes Beckon,” a Wall Street Journal article by Joe Light, quoting HSH.com:
The average rate on a 30-year fixed-rate loan stood at 3.97% for the week ending May 1, according to Keith Gumbinger, vice president at mortgage tracker HSH.com. Buyers with strong credit who can put down more than 25% should be able to find rates near 4%, he says.
May 04, 2012: “Record low mortgage rates: What to do now,” a CBS MoneyWatch article by Ray Martin, quoting HSH.com:
You can get a survey and track mortgage rates at HSH.com.
May 04, 2012: “Research in Motion shares slide 15.8% in 3 days,” a San Francisco Chronicle article, quoting HSH.com:
“Unfortunately the economy appears to be sputtering again, and that doesn’t foster the kind of confidence needed for consumers to want to take on what is one of life’s biggest financial obligations.”
Keith Gumbinger, vice president of mortgage-data firm HSH Associates, on why home-loan demand remains soft even though interest rates have fallen to record lows.
May 03, 2012: “Mortgage applications rise,” a Philadelphia Inquirer article by Alan J. Heavens, quoting HSH.com:
Average 30-year rates were 3.97 percent for the week, according HSH.com, a publisher of mortgage and consumer loan information. HSH vice president Keith Gumbinger said, “The economy seems to have moved to a slower-growth pattern as we entered the second quarter of 2012, and mortgage rates are finding a little space to fall.”
May 03, 2012: “Mortgage Rates in U.S. for 30-Year Loans Fall to Record Low,” a Bloomberg article by Prashant Gopal, quoting HSH.com:
“Lower interest rates do provide support for housing,”said Keith Gumbinger, vice president of HSH Associates, a mortgage-data firm in Pompton Plains, New Jersey.“Unfortunately the economy appears to be sputtering again and that doesn’t foster the kind of confidence needed for consumers to want to take on what is one of life’s biggest financial obligations.”
April 24, 2012: “10 Things Open Houses Won’t Tell You,” a Smart Money article by AnnaMaria Andriotis, quoting HSH.com:
There’s no way the listing agent can know if every person who walks into the door is qualified to purchase the home, says Keith Gumbinger, vice president at mortgage-data firm HSH Associates.
April 16, 2012: “What Romney Plan May Mean for Homeowners,” a Smart Money article by AnnaMaria Andriotis, quoting HSH.com:
Still, the elimination of this deduction could impact investment properties, says Keith Gumbinger, vice president at HSH Associates, a mortgage-data firm. For investors with mortgages, this deduction helps to lower the cost of carrying the property, so eliminating the deduction would make it less profitable.
April 12, 2012: “Mortgage Rates in the U.S. Fall With 15-Year at Lowest on Record,” a Bloomberg article by Prashant Gopal, quoting HSH.com:
“There was a tempering of optimism,” said Keith Gumbinger, vice president of HSH Associates, a mortgage-data firm in Pompton Plains, New Jersey. “The market was getting a little ahead of itself about where the economy was domestically and globally.”
April 12, 2012: “Mortgage Rates Tumble Back Into Record Territory,” a CNNMoney article by Les Christie (also appearing on FOX 8 Cleveland), quoting HSH.com:
Those holding out for rates to fall even further, shouldn’t wait any longer, according to Keith Gumbinger of HSH.com, a mortgage information company.
“For [rates] to continue to decline, we will need more signs that the economy is cooling and signals that the Federal Reserve will be taking new steps to support it,” he said. “That seems unlikely.”
April 10, 2012: “What the foreclosure settlement means for you,” a CNNMoney article by Les Christie, quoting HSH.com:
The new rules and regulations the banks have agreed to under the settlement should have little impact on future mortgage borrowing since most of practices are already in place, said Keith Gumbinger of HSH.com, a mortgage information provider.
April 10, 2012: “Should You Jump Off the Refinancing Bridge?” a Fox Business article by Andrea Murad, quoting HSH.com:
April 09, 2012: “New Ways to Get Real Help On Your Underwater Mortgage,” a Daily Finance article by Jean Chatzky:
“It’s a matter of which programs are available for which homeowners,” says Keith Gumbinger, vice president at HSH.com. “Frankly, I’m not sure how anybody in any kind of difficult straits can figure out where to go, get the eligibility stuff straight and actually get help.”
April 05, 2012: “Locking In Peace of Mind,” a New York Times article by Vickie Elmer, quoting HSH.com:
This guarantee may be especially important for those who are refinancing, where even a quarter of a percentage point could skew a borrower’s calculations and make a refinancing less financially desirable, said Keith T. Gumbinger, a vice president of HSH.com a financial publisher in Pompton Plains, N.J.
April 04, 2012: “How to grab the best mortgage rate now,” a Reuters article by Lou Carlozo, quoting HSH.com:
When you are shopping for quotes, try a mortgage broker, a banker, a local lender, a credit union, a national lender and at least one comparison website like Bankrate (www.bankrate.com), Mortgage Marvel (www.mortgagemarvel.com) or HSH Associates (www.hsh.com).
March 29, 2012: ” Is a Microhome a Fit for You?” a Main Street article, also appearing on MSN.com, by Jeff Brown, quoting HSH.com:
“The McCottage is replacing the McMansion as a home status symbol as more homeowners look to save money and reduce their impact on the environment,” says HSH Associates, the mortgage data firm. While national figures are hard to come by, or don’t exist, HSH quotes builders who suggest microhomes will be the next big thing.
March 22, 2012: “Mortgage Rates Creep Upward,” a U.S. News & World Report article by Meg Handley, quoting HSH.com:
While a stronger economy doesn’t necessarily mean the demise of low mortgage rates, it will take some serious bad news to get mortgage rates to decline much further, says Keith Gumbinger, vice president of mortgage information website HSH.com.
“[N]ascent optimism about the health of the economy may fade given the concerns about higher gasoline prices and still-troubled European markets,” he said in a recent post. “However, without the emergence of more downbeat news, it will be difficult for mortgage rates to decline much.”
March 22, 2012: “Underwater Mortgage Calculators: When and How Will You Get Back to Even?” a Forbes article by Nickel, quoting HSH.com:
Given this, HSH.com put together a couple of calculators for predicting when and how you can get back to even given your current circumstances.
Using their KnowEquity When calculator, you can plug in your initial loan amount, the term and interest rate, first payment date, home value, and expected rate of price appreciation, and extra monthly payments to predict when your equity will finally equal your loan balance.
March 22, 2012: “Mortgage rate jumps past 4%,” a CNNMoney article by Les Christie, quoting HSH.com:
“A strengthening economy has pushed mortgage rates up a little bit,” said Keith Gumbinger, vice president of HSH.com, a mortgage information company. “We’ve moved off the absolute rock-bottom lows of the past few months to a slightly higher level.”
But a stronger economy doesn’t mean the days of low mortgage rates are gone, said Keith Gumbinger, vice president of HSH associates, on an HSH.com blog.
“The Federal Reserve is still committed to keeping mortgage rates low, and nascent optimism about the health of the economy may fade given the concerns about higher gasoline prices and still-troubled European markets,” he said. “However, without the emergence of more downbeat news, it will be difficult for mortgage rates to decline much.”
March 21, 2012: “US mortgage rates at four-month high,” a Financial Times article by Nicole Bullock and Shahien Nasiripour, quoting HSH.com:
A pair of new calculators from HSH Associates, the mortgage-data firm, can provide the answers. Well, call them good estimates, as certain variables, like the rate of home-price appreciation, can’t be predicted for sure.
The HSH calculators focus on three factors that can get a homeowner above water: amortization, or the gradual paying down of debt through regular monthly payments; appreciation, or the gradual gain on the property’s value; and prepayments, the benefits of making extra principal payments to reduce the debt.
March 19, 2012: “HSH Mortgage Calculator Shows When You’ll Break Even On Your Mortgage,” a Huffington Post article by Loren Berlin, quoting HSH.com:
To help sort it out, HSH, a company that conducts independent research into mortgage loans, has launched a new calculator to help determine when you’ll get back to the break-even point on your home loan.
HSH collects data directly from bank branches across the country, analyzing the numbers to report on a variety of mortgage-related topics, ranging from technical reports directed at the industry to more consumer-friendly advice.
March 16, 2012: “Mortgage Under Water? Calculator Points the Way Back to Black,” a U.S. News & World Report article by Meg Handley, quoting HSH.com:
A new calculator from mortgage information website HSH.com tells homeowners exactly that. Just punch in a few numbers and voila—homeowners can see exactly when they’ll be back in the black.
March 16, 2012: “Underwater on mortgage? Figure out when, how you might break even,” a Batimore Sun article (also appearing on their blog) by Jamie Smith Hopkins, quoting HSH.com:
HSH.com, a mortgage-information company, has a new calculator designed to help answer the question — variations of which are bedeviling millions of borrowers across the country.
March 16, 2012: “Refinance, Please,” a CNBC article by Temma Ehrenfeld, quoting HSH.com:
“We’re going to provide refinancing with no documentation against property that hasn’t been appraised. Isn’t this the very way we got into trouble?” asks Keith Gumbinger, vice president at HSH.com, a mortgage information website.
March 14, 2012: “Lower payments one reason to refinance,” an article published in The Record, also appearong on ToledoBlade.com, quoting HSH.com:
“You have to have a taste for doing paperwork,” said Keith Gumbinger of HSH Associates, a Pompton Plains, N.J., firm that tracks mortgage data. “You’re going to be asked for lots of documents.”
March 11, 2012: “The Realities of Real Estate: Looking at home affordability,” an article published in The Capital by Bob and Donna McWilliams, quoting HSH.com:
The prevailing mortgage interest rate is the effective rate on loans closed on existing homes from the Federal Housing Finance Board and HSH Associates, Butler, N.J. These components are used to determine if the median income family can qualify for a mortgage on a typical home.
March 09, 2012: “First-time buyers: Do homework, then shop,” a Chicago Tribune article by Carolyn Bigda, quoting HSH.com:
“We might actually have a homebuying season this spring,” said Keith Gumbinger, vice president of HSH.com, a mortgage information website.
March 07, 2012: “Banks pull in trillions, but lend a fraction to home buyers,” a MyCentralJersey.com article by Michael L. Diamond and Shannon Mullen, quoting HSH.com:
“Caution is coming because loans that seemed like a good idea yesterday didn’t work out so well,” said Keith Gumbinger, vice president of HSH Associates, a Pompton Plains-based company that tracks mortgage rates.
February 23, 2012: “30-year mortgage rate rises above record low,” a CNNMoney article by Les Christie, quoting HSH.com:
The recent increases, said Keith Gumbinger of HSH Associates, could be the beginning of a gentle rate climb over the next few months, making borrowing to buy a house a tad more expensive.
February 11, 2012: “Removing homeowner benefits is counterproductive,” a Sioux City Journal article by Jim Woodard, quoting HSH.com:
Q: What impact do record-low mortgage rates have on our housing market?
A: Today’s low and stable mortgage rates and a modestly improving economy are starting to produce positive effects on the nation’s housing market, according to a report on HSH.com.
“While starting from extraordinarily low levels and though improvements are still tenuous, there have been accumulating signs of improvement for months. If the economy can continue to nudge forward for a while longer without some new catastrophe to derail it, we just might have ourselves a housing market worth talking about when spring rolls around,” the report stated.
February 09, 2012: “Will Foreclosure Deal Hurt Homebuyers?” a SmartMoney article by AnnaMaria Andriotis, quoting HSH.com:
The settlement could impact more than homeowners. For instance, it may lead to lower rates on deposit accounts as banks look for ways to make up the money they’re paying out in this settlement, says Keith Gumbinger, vice president at mortgage data firm HSH Associates.
February 06, 2012: “Payroll Tax Cut May Hurt Homebuyers,” a SmartMoney article by Kelli B. Grant, quoting HSH.com:
That’s not pocket change, but the fee isn’t particularly burdensome either, considering that mortgage rates are currently near record lows, says Keith Gumbinger, vice president at mortgage data firm HSH Associates. “It’s probably the least-painful time in mortgage history for this to happen,” he says. According to HSH, a 30-year fixed-rate mortgage currently averages 4.18%, down from 4.28% last week. 15-year loans are 3.46%, down from 3.55% last week.
February 02, 2012: “Mortgage rates hit a new low: 30-year fixed at 3.87%,” a CNNMoney article by Les Christie, quoting HSH.com:
The usual spread is about 1.7 percentage points, according to Keith Gumbinger of HSH Associates, a provider of mortgage data and information. Currently, it’s about 2 points.
February 02, 2012: “White House proposes aid for underwater homeowners,” a San Francisco Chronicle article by Kathleen Pender, quoting HSH.com:
Keith Gumbinger, a vice president HSH Associates, calls the proposal a “politically savvy stroke – virtually free, hassle-free refinancing for everybody, paid for by someone else.”
February 02, 2012: “Key moves for surviving low interest rates,” an Associated Press article by Candice Choi, quoting HSH.com:
“Banks have increased their ability to slice and dice individual segments (of the market) and make more targeted offers,” said Keith Gumbinger, an analyst with HSH Associates, a publisher of financial data.
February 01, 2012: “More help for struggling homeowners,” a SmartMoney article by AnnaMaria Andriotis, quoting HSH.com:
Homeowners who were struggling with their payments while they were employed should consider a loan modification, which results in smaller monthly payments and would also last for a longer period of time than forbearance relief, says Keith Gumbinger, vice president at HSH Associates, a mortgage-data firm.
January 25, 2012: “Federal Mortgage Insurer Headed Toward Collapse,” a Epoch Times article by Evan Mantyk, quoting HSH.com:
HSH.com, which provides information and news on mortgages, says that the FHA does need changes but that its financial health has gotten better in some ways, not worse. Also, HSH.com points out that the FHA has gotten stricter and implemented new requirements, including increasing the down payment requirement from 3 percent to 3.5 percent.
January 20, 2012: “5 Ways to Spot a Bad Landlord,” a MoneyTalksNews article by Angela Colley, quoting HSH.com:
You can order a background check on the property (and the landlord) from CheckYourLandlord.com. According to HSH.com, the site locates property ownership information, runs a criminal background check, and shows if the landlord has filed for bankruptcy or if he’s been sued by any former tenants. Last month, a basic report cost $12.95 and a comprehensive report cost $27.95.
January 19, 2012: “30-year mortgage rate dips, again,” an Associated Press, Newsday article quoting HSH.com:
On Long Island, according to figures calculated for Newsday by HSH Associates at HSH.com, the 30-year fixed mortgage rate is 4.08 percent, down from 4.16 percent. The 15-year rate is 3.67 percent, down from 3.72 percent. The one-year adjustable is 3.55 percent, down from 3.59 percent.
January 19, 2012: “Homebuilding ends bad year on upswing,” a Marketplace Economy article by Stacey Vanek Smith, quoting HSH.com:
Still, Keith Gumbinger with mortgage website hsh.com describes the 2011 housing market as warming, not warm by any means, but warming. And that’s going to start us out in 2012 in a much better position.
January 19, 2012: “Real Estate Vs. REITs,” a Seeking Alpha article by Dividend Dog, quoting HSH.com:
For example, “How to Estimate the Cost of Homeownership” featured on HSH.com suggests estimating maintenance costs at 1% of a property’s value.
January 18, 2012: “Will mortgage rates stay low in 2012?” a MoneyRates.com article by Michele Lerner, quoting HSH.com:
However, HSH.com notes that continued high unemployment figures may continue to put downward pressure on the housing and mortgage markets. Its forecast anticipates that mortgage rates through mid-February will average 4.00 to 4.30 percent for 30-year fixed-rate loans.
“Without considerably stronger job growth, it will be hard to get more potential buyers into the market,” the latest HSH.com forecast said. “For their part, the Fed’s commitment to low and steady mortgage rates is helping, and both new and existing home sales have been on a gradual upturn since about mid-year 2011.”
January 18, 2012: “Mortgage applications surge amid record-low rates,” a CNNMoney article by Les Christie, quoting HSH.com:
Low rates have had a positive impact on the housing market in at least two important ways, said Keith Gumbinger of HSH Associates. First, there are those borrowers who were able to avoid foreclosure by refinancing and lowering their monthly payments.
Then there are the tens of thousands of homeowners with risky adjustable-rate mortgages who have avoided potential disaster. These borrowers could have been hit hard had rates been higher when their loans reset. But instead, they are saving money, he said.
Adjustable-rate mortgages reset under a formula that involves a margin, specified in the contract, and an index, usually the one-year London Inter-Bank Offerer Rate (LIBOR). Margins on option ARMs range between 1.625% and 2.5%, and the current LIBOR rate is around 1.1%. That combines for a very affordable rate of 2.7% to 3.6%.
“For anyone with the guts to hang on, ARM borrowing has been very favorable,” said Gumbinger. “If you took the risk, you could be enjoying the results right now.”
January 15, 2012: “Fannie, Freddie charge borrowers for fed’s tax cut,” a San Francisco Chronicle article by Kathleen Pender, quoting HSH.com:
January 13, 2012: “Mortgage rates likely to stay low in 2012,” a Chicago Tribune article by Mary Ellen Podmolik, quoting HSH.com:
Mortgage researcher HSH Associates predicts rates this year will range from 3.85 to 4.85 percent.
January 12, 2012: “Mortgage Rates for 30-Year Fixed U.S. Loans Decline to Record Low of 3.89%,” a Bloomberg article by Prashant Gopal, quoting HSH.com:
“There’s a general economic improvement that is serving to promote home sales, and the low and stable mortgage rate environment plays into that very well,” said Keith Gumbinger, vice president of HSH Associates, a loan-data firm in Pompton Plains, New Jersey.
January 05, 2012: “Mortgage rates to stay low for most of 2012,” a MarketWatch article by Amy Hoak, quoting HSH.com:
Meanwhile, HSH Associates, a publisher of consumer loan information, predicts conforming, 30-year fixed-rate mortgages will remain between 3.85% and 4.85% throughout 2012.
“Things appear to be improving domestically. The economy, employment, the housing market are showing signs of warming,” said Keith Gumbinger, vice president at HSH.
For more: HSH in the News–2011