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Mortgage Rates Fall on Debt-Deal News

Market worries cooled Monday as news reports confirmed a tentative debt-ceiling deal by public officials Sunday, a last-minute agreement that would avert the next financial crisis predicted by economists. In response to the possible deal, mortgage rates stepped down from nominal highs from last week. According to Headline News, Bank of America reported that 30-year fixed-rate mortgages fell to 4.37 percent, down several basis-points from last week. Fellow mortgage giant Wells Fargo yielded 30-year loans at 4.50 percent.

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Three is a Charm for Radian

Radian Guaranty, Inc. is multiplying its sales force with the addition of three new team members. Andrew (Andy) Cooper, Shelley Duffy, and Patrick Harrigan are joining Radian├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós sales division. Cooper will now serve as Radian├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós vice president, national account manager, and he├â┬ó├óÔÇÜ┬¼├óÔÇ×┬óll be responsible for managing and developing strategies with the company├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ós largest lending partners.

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Mortgage Rates Inch Up Amid Debt-Default Fears

As House Republicans shifted their focus to a balanced budget amendment Friday in order to push through a debt-ceiling raise bill, two analytics companies posted upticks in mortgage rates - a sign that some say the markets feel increasingly unsure about whether the nation will be able to pay its debts come August 2. A Bankrate, Inc. survey reflected a 6-basis point surge to 4.74 percent, with mortgages totaling 0.35 discount and origination points, with Freddie Mac reporting a similar jump.

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NAR: Pending Home Sales Climb Upward

After taking a nosedive in April and recovering in May, pending home sales climbed upward at a steady pace over June, according to a sales index released Thursday by the National Association of Realtors. As regions showed signs of recovery, market watchers faulted leery lenders and bad appraisals for a less-than-timely rebound. Releasing the Pending Home Sales Index, NAR revealed encouraging gains in unclosed contracts, as signings went up by 2.4 percent to settle at 90.9 in June.

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FHA: Total Loan Origination Volume Falls

Plummeting refinance applications crimped Federal Housing Administration mortgage loan applications over June, according to a report issued by the federal agency, with total volume falling 22 percent less than volume at the same time last year. The FHA attributed the plunge to a 50 percent decline in year-over-year numbers for refinance applications. Data from June last year suggests a sharp decline in refinance loan applications, which dropped from 69,876 to 35,367 last month.

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Survey Shows Sellers’ Sentiments on the Rise

Is it really a buyers├â┬ó├óÔÇÜ┬¼├óÔÇ×┬ó market? Not according to recent survey results from J.D. Power and Associates, which demonstrated that sellers are more content than buyers in the current real estate market. The study looked at three key areas of the home-buying process: real estate agents, real estate offices utilized, and auxiliary services. Buyers positivity dropped by around 1 percent between 2010 and 2011, and the decrease is attributed to a 14 point drop in real estate agent satisfaction numbers.

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Mortgage Applications Post Declines Across the Board

As reflected by a weekly survey released Wednesday by the Mortgage Bankers Association, the number of mortgage applications filed by homebuyers declined 5.0 percent from the previous week. The survey showed a dip by 5.0 percent in mortgage loan application volume, as measured by the Market Composite Index, with a corresponding 4.9 percent decline on an unadjusted basis from the week ending July 22. The Weekly Mortgage Applications Survey reviews half of all residential mortgage applications.

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Survey: Lenders Hopeful for Credit Expansion

Lending availability may be in the swings of an expansion, as loan structures and demand loosen, leading to more financing opportunities in the broader economy, according to a second-quarter survey released Wednesday by research firm Phoenix Management Services. The survey posted hopeful signs for an erstwhile tight credit supply, even as it anticipates continued volatility in home construction, real estate, and other markets. The survey used anecdotal and quantitative research.

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