- April 6, 2006 - Home Mortgage Rates Grew in the Past Week.
- March 6, 2006 - What Housing Bubble? Report Shows House Prices Still Soaring.
- March 3, 2006 - 30 yr-fixed Mortgage Interest Rates Drop to 6.24 Percent.
- February 27, 2006 - WEI underwrites and closes loans with title held under LLC.
- February 24, 2006 - WEI Mortgage Corporation introduced its new look.
- February 24, 2006 - Increasingly, the Home Is Paying for Retirement.
- February 24, 2006 - Mortgage Rates Fall; Confidence Rises.
- January 1, 2006 - WEI introduces NINA Product Lines.
- January 1, 2006 - WEI introduces Stated Income with 620 Scores and 100% CLTV up to $1MM.
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April 6, 2006 - Home Mortgage Rates Grew in the Past Week
Freddie Mac reports a jump in the average 30-year fixed mortgage rate to 6.43 percent from 6.35 percent during the week ended April 6. Interest on 15-year fixed loans edged up to 6.10 percent from 6 percent over the same period. Meanwhile, the one-year adjustable mortgage rate rose to 5.57 percent from 5.51 percent; and the five-year hybrid ARM surged to 6.11 percent from 6.02 percent. Freddie Mac chief economist Frank Nothaft attributes the gains to economic growth and rising energy prices, which have sparked concerns about inflation.
March 6, 2006 - What Housing Bubble? Report Shows House Prices Still Soaring.
Last week was a big week for news about the housing bubble and the quarterly House Price Index (HPI) report of the Office of Federal Housing Enterprise Oversight (OFHEO) released on March 1 was a good deal more optimistic about price growth than were the Census Bureau and Department of Housing and Urban Development joint report on new home sales and the National Association of Realtors existing home sales report, both issued days earlier and both showing that sales and price increases are slowing down.
The OFHEO report deals only with housing prices not sales figures, slicing and dicing this data in many ways and providing years of historical background, making it one of the most interesting of the dozen or so housing reports released monthly or quarterly.
March 3, 2006 - 30 yr-fixed Mortgage Interest Rates Drop to 6.24 Percent.
Detroit Free Press (03/03/06) ; Crutsinger, Martin
Freddie Mac reported a slight drop in the 30-year fixed mortgage rate to 6.24 percent from 6.26 percent over the past week and predicted that the rate will reach 6.5 percent by the end of the year. Meanwhile, interest on 15-year loans held steady at 5.89 percent. However, the one-year adjustable mortgage rate inched up to 5.34 percent from 5.32 percent; and the five-year hybrid ARM rose a notch to 5.97 percent from 5.96 percent. Experts believe mortgage rates will not wildly fluctuate this year, provided that the Federal Reserve does not hike interest rates more aggressively to control inflation.
February 27, 2006 - WEI underwrites and closes loans with title held under LLC.
WEI Mortgage Corp will be able to underwrite and close loans with title held under LLC, Corporation and Trust held properties. Qualification for the loan is still based on a natural person. Asset pledged programs in which an individual can use pledged asset as down payment without liquidating asset holding are also offered. Up to 100% LTV available on all doc types. Ask your AE for pricing.
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