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American National Mortgage

National Mortgage Settlement

Attorney General Rob McKennna discusses the national mortgage settlement. For more information go to www.nationalmortgagesettlement .com.

Stock volatility boosted potential for home sales: First American

December's stock market volatility contributed to the decline in interest rates , he continued, pointing out the 10-year Treasury yield is used to benchmark the 30-year mortgage.

"When the economy is doing well, investors prioritize investing in securities over bonds, driving higher longer-term Treasury yields, which also tends to increase mortgage rates," Fleming said. "In December, the opposite happened. A steep sell-off in U.S. stocks caused by investors seeking safe haven from global and domestic economic uncertainty caused the 10-year Treasury yield to decline, and mortgage rates fell alongside it."

"In fact, the average 30-year, fixed-rate mortgage in December fell 23 basis points compared with the previous month. The decline in mortgage rates is a welcome relief to prospective homebuyers who have mostly experienced a year of rising rates and house prices. The December drop in mortgage rates increased the market potential for existing home sales by 0.3%," he said.

Independent mortgage banks foster competition and access to the housing market

Independent mortgage banks have existed for more than a century, but one could argue the important role they have played in helping millions of households realize the American dream of owning a home has never been more apparent than over the last decade.

In the years following the Great Recession, the housing market struggled to regain its footing. Even as the job market and economy improved, the U.S. homeownership rate bottomed out to a 50-year low, home sales and prices were slow to recover, and mortgage credit availability remained tight.

Fortunately, IMBs, both large and small, have been instrumental in helping to fill the void left by the many traditional bank lenders that have retreated from government lending programs and the overall mortgage market since the downturn.

Consider this: If not for nonbank lenders stepping up in recent years, thousands of aspiring first-time buyers, low- and moderate-income borrowers, minority households, service members, and veterans would have found themselves without access to mortgage credit — ultimately stuck on the sidelines without the opportunity to realize the personal and financial benefits of homeownership.

Historically, what has been the average length of home ownership &/or mortgage?

I have contacted to two trade associations with this question: the american mortgage assoc and the national assoc of realtors. They did not respond to my query. Again, how long do homeowners reside in the home before moving???


Historically, between 8 and 12 years for holding one's primary residence.

Between 4 and 7 years for holding the mortgage.