East Hills NY Real Estate

After over three months of dynamic mortgage rates which was popular among home buyers—started creeping back upwards recently. The median thirty year mortgage had dropped or matched record lows for over three months and this week, there was a lot of mixed speculation about economic news which prompted mortgage rates to inch higher.

It was said that mixed domestic economic indicators increased the upward pressure on Treasury yields as well as mortgage rates over the week.
Along with mortgage rate news, foreclosures were in the news. Home owner's are allowed another extension to the program which would allow home owners that were foreclosed on to ask for a review on their situation.

In the beginning, the Federal Reserve and the Office of the Comptroller of the Currency had put deadlines in place earlier this year, which have continued to move that date back to give more home owners time to take advantage and let friends and family know.

The purpose of the extension is to provide more time to increase awareness about the Program Independent Foreclosure Review and how the creditable borrowers may ask and encourage the broadest participation possible

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