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Hitting Up the Family Bank CNN Stephani Chen Jan 03, 2011
But Nicole Hall, editor of The LendingTree Blog, cautioned parents against giving more money than they can afford because they may be putting their retirement in jeopardy.
Hall advises these family lenders to clearly lay out the terms, interest, rates and payment schedules to minimize misunderstandings and conflicts.
"Remember, this is a business transaction, even though with family involved there can be more emotion," Hall said. "At the same time, you have to protect your own financial situation."
Mortgage Company Booming, Lookinng to Hire and Expand Detriot Free Press Bob Campbell Jan 02, 2011 In 2010, the company collaborated with the Michigan Works! program, St. Clair County and St. Clair County Community College to find hires for its St. Clair County mortgage call center. Much of the business the company gets begins with tips about people seeking mortgages that come from aggregators like Lending Tree. From there, it's up to the company's mortgage brokers to convince mortgage seekers that the company is their best choice. A competitive rate is important, but delivering on service guarantees of timing, no surprise costs and attention to detail is crucial to winning customers, Walker said.
In 2010, the company collaborated with the Michigan Works! program, St. Clair County and St. Clair County Community College to find hires for its St. Clair County mortgage call center.
Much of the business the company gets begins with tips about people seeking mortgages that come from aggregators like Lending Tree.
From there, it's up to the company's mortgage brokers to convince mortgage seekers that the company is their best choice. A competitive rate is important, but delivering on service guarantees of timing, no surprise costs and attention to detail is crucial to winning customers, Walker said.
For Century 21, No Finer Place to be than Downtown Chicago Tribune Mary Ellen Podmolik Dec 17, 2010 LendingTree is in the business of helping consumers comparison shop for financial products like mortgages, but a survey it issued this week provides interesting tidbits on consumer behavior. The gist of it: Americans are good comparison shoppers for a wide range of products, but not for the most costly item they're likely to take on, a mortgage. A survey for the company by Harris Interactive found that 40 percent of consumers only get one quote on a home loan before locking in a loan commitment. And almost three-quarters of people don't spend more than one full working day shopping for their home loan.
LendingTree is in the business of helping consumers comparison shop for financial products like mortgages, but a survey it issued this week provides interesting tidbits on consumer behavior. The gist of it: Americans are good comparison shoppers for a wide range of products, but not for the most costly item they're likely to take on, a mortgage.
A survey for the company by Harris Interactive found that 40 percent of consumers only get one quote on a home loan before locking in a loan commitment. And almost three-quarters of people don't spend more than one full working day shopping for their home loan.
Did You Shop for Your Mortgage? San Antonio Express J. Hiller Dec 16, 2010 A LendingTree.com survey says that just 40 percent of homebuyers shopped their mortgage. Which helps explain why only 28 percent are confident they got the best deal. “Choosing a mortgage is probably the most important financial decision most of us will ever make, yet many consumers simply take the first offer that comes their way,” said LendingTree CEO Doug Lebda, in a news release.
A LendingTree.com survey says that just 40 percent of homebuyers shopped their mortgage. Which helps explain why only 28 percent are confident they got the best deal.
“Choosing a mortgage is probably the most important financial decision most of us will ever make, yet many consumers simply take the first offer that comes their way,” said LendingTree CEO Doug Lebda, in a news release.
Attention Home Buyers: Comparison Shop Your Mortgages! Forbes Morgan Brennan Dec 15, 2010 According to LendingTree, which conducted an online survey in September with Harris Interactive, a hefty40% of the 1,317 homeowners polled do not comparison shop mortgage offers when purchasing a new property. In other words, 2 out of 5 buyers take the very first home loan deal presented to them, regardless of whether a better one could be had. The survey also found that 72% of homeowners polled spent only one full working day or less when hunting for mortgage deals. Even worse, one in 10 spent only the measly amount of time it takes to brush your teeth…even though it’s a decision that will affect the said borrower for the next 15 to 30 years.
According to LendingTree, which conducted an online survey in September with Harris Interactive, a hefty40% of the 1,317 homeowners polled do not comparison shop mortgage offers when purchasing a new property. In other words, 2 out of 5 buyers take the very first home loan deal presented to them, regardless of whether a better one could be had.
The survey also found that 72% of homeowners polled spent only one full working day or less when hunting for mortgage deals. Even worse, one in 10 spent only the measly amount of time it takes to brush your teeth…even though it’s a decision that will affect the said borrower for the next 15 to 30 years.
Another Housing Stimulus? CNBC Nov 24, 2010
Video Discussing whether another round of housing stimulus is on the way, with Cameron Findlay, Lendingtree.com, and Patrick Newport, IHS Global Insight.
Mortgage Interest Rates Increase in Two Nonagency Surveys HousingWire Christine Ricciardi Nov 24, 2010 LendingTree's weekly survey gathers actual rates offered to borrowers through the company's lending network. The survey also reports the lowest rates available in every state. Florida and Delaware tied for the lowest rate offered this week at 4%. In Florida, 46.4% of borrowers are underwater, as are 13.5% of borrowers in Delaware, according to the survey. Mortgage rates offered to borrowers through LendingTree did not exceed 4.25% in any state.
LendingTree's weekly survey gathers actual rates offered to borrowers through the company's lending network. The survey also reports the lowest rates available in every state.
Florida and Delaware tied for the lowest rate offered this week at 4%. In Florida, 46.4% of borrowers are underwater, as are 13.5% of borrowers in Delaware, according to the survey. Mortgage rates offered to borrowers through LendingTree did not exceed 4.25% in any state.
News of the Week Orange County Business Journal Jerry Sullivan Nov 21, 2010 Irvine-based online mortgage exchange LendingTree agreed to buy SurePoint Lending in Louisville, Ky., for $6 million in cash with as much as $17 million in additional payments based on performance. LendingTree is part of Charlotte, N.C.-based Tree.com. Inc. SurePoint operates as First Residential Mortgage Network Inc. and employs about 500 in Kentucky, Nashville, Tenn., Indianapolis and Tampa, Fla. LendingTree recently added 150 employees at its Irvine operations.
Irvine's LendingTree Buys SurePoint The Orange County Register Marilyn Kalfus Nov 19, 2010
LendingTree is best known as a public mortgage exchange were borrowers can shop loans from various financial sources — including LendingTree's own loans and SurePoint, which was the top refinance lender on the LendingTree network in 2009.
SurePoint, which does business as First Residential Mortgage Network, has nearly 500 employees, including more than 300 licensed loan officers, and operates branch locations in Nashville, Tampa and Indianapolis. It has made $10 billion worth of mortgages since it started in 1995. .
The acquisition comes on top of LendingTree Loans adding 125 workers in Irvine for loan sales, loan processing, underwriting, funding, title, escrow and production support.
Mortgage Rates Jump to Highest Level Since August MarketWatch Amy Hoak Nov 18, 2010 Fears of inflation are likely fueling the increase in mortgage rates right now, said Cameron Findlay, chief economist of LendingTree, an online lender exchange. “There is a significant debate currently taking place that challenges the Fed’s decision to adopt additional quantitative easing, that’s placing pressure on the Fed to boost growth and avoid deflation, while at the same time not over-stimulating the economy. It’s a delicate balance,” Findlay said Wednesday in a news release.
Fears of inflation are likely fueling the increase in mortgage rates right now, said Cameron Findlay, chief economist of LendingTree, an online lender exchange.
“There is a significant debate currently taking place that challenges the Fed’s decision to adopt additional quantitative easing, that’s placing pressure on the Fed to boost growth and avoid deflation, while at the same time not over-stimulating the economy. It’s a delicate balance,” Findlay said Wednesday in a news release.
Tree.com to Buy Back Shares Charlotte Business Journal Nov 18, 2010 LendingTree parent Tree.com Inc. has launched a Dutch auction to buy back up to $15 million of its common stock. Tree.com plans to repurchase the shares at $7.25 to $7.75. Its shares closed Wednesday at $6.86. The company will fund the share purchase with cash on hand.
LendingTree parent Tree.com Inc. has launched a Dutch auction to buy back up to $15 million of its common stock.
Tree.com plans to repurchase the shares at $7.25 to $7.75.
Its shares closed Wednesday at $6.86. The company will fund the share purchase with cash on hand.
LendingTree buys billion-dollar loan originator SurePoint HousingWire Jacob Gaffney Nov 17, 2010 LendingTree Loans is acquiring the assets of SurePoint, originally known as First Residential Mortgage Network, in a deal expected to close in early 2011. SurePoint is a lender networked with LendingTree and, in the last decade or so, originated more than $10 billion in closed loans. SurePoint provides several loans, including mortgages and debt consolidation products with more than 300 licensed loan officers. Doug Lebda, chairman and CEO of Tree.com, the owner of LendingTree said, "This acquisition is a key component of our aggressive growth strategy for LendingTree Loans, which also includes expanding our team of loan officers headquartered in Irvine, Calif., increasing our marketing spend, and continuing to invest in process and technology to meet both regulatory requirements and our customers' needs."
LendingTree Loans is acquiring the assets of SurePoint, originally known as First Residential Mortgage Network, in a deal expected to close in early 2011.
SurePoint is a lender networked with LendingTree and, in the last decade or so, originated more than $10 billion in closed loans. SurePoint provides several loans, including mortgages and debt consolidation products with more than 300 licensed loan officers.
Doug Lebda, chairman and CEO of Tree.com, the owner of LendingTree said, "This acquisition is a key component of our aggressive growth strategy for LendingTree Loans, which also includes expanding our team of loan officers headquartered in Irvine, Calif., increasing our marketing spend, and continuing to invest in process and technology to meet both regulatory requirements and our customers' needs."
Home Loan Demand Rises as Rates Stay Near Lows Reuters.com Julie Haviv Nov 10, 2010
Cameron Findlay, chief economist at LendingTree.com in Charlotte, North Carolina, said loan demand has been constrained, even though many homeowners with mortgages that originated in 2009 or before have an incentive to refinance."Lending standards are extremely tight, which is preventing many homeowners from taking advantage of low interest rates," he said in an interview before the release of the MBA data."Consumers are also in a de-leveraging mode and they would rather pay down their debt than buy a new home, keeping demand for home purchase loans muted," he said.
Percentage of Underwater Borrowers Up Wall Street Journal AnnaMaria Andriotis Nov 10, 2010
Some economists expect there’s more to come—into 2011. “One-quarter of homes [with mortgages] with negative equity is a huge number, but I don’t believe this will hit bottom until June or July,” says Cameron Findlay, chief economist at LendingTree.com. He projects that average homes prices could drop another 4% from now before they bottom out.
LendingTree Hopes to Hire 125 in SoCal California Reatly Site Nov 09, 2010 The mortgage banking division of LendingTree plans to hire 125 full timers – including loan officers – to work at its headquarters in Irvine, California.
Pending Home Sales Fall in September ConsumerAffairs.com Mark Huffman Nov 05, 2010
At the same time, there are signs that record low mortgage rates, which has so far failed to ignite a round of home purchasing, are beginning to move up. LendingTree reports its Weekly Mortgage Rate Pulse, a snapshot of the lowest and average mortgage rates available within the LendingTree network of lenders, has moved up for a third straight week.
The Federal Reserve Does Kind of What Was Expected, or "Yes, but" Quantitative Easing The Chicago Tribune Gail MarksJarvis Nov 03, 2010 LendingTree Chief Economist Cameron Findlay - The anticipation surrounding the FOMC decision caused a pause in the market during this last week however today's announcement to leave the target rate at 0-0.25% with Risk to Growth was no surprise. The market got exactly what it expected and will see the Fed continue to re-invest the principal payments and also expand quantitative easing by the end of the 2nd Qtr 2011. This equates to ~$75billion per month or ~$600billion in expanded new asset purchases with total asset purchases of ~$900bln. The emphasis will remain on longer term investments.
Is No-Closing-Cost Mortgage For You? BankRate.com Donna Fuscaldo Nov 02, 2010
The slightly higher mortgage rate associated with a no-closing-cost mortgage is still likely less expensive over five years than what you would pay upfront in closing costs.
"You have to look at the break-even," says Cameron Findlay, the chief economist for LendingTree, a company based in Charlotte, N.C., that hooks up borrowers with lenders.
"Say, for example, you had a loan for a while at 6.5 percent and are only looking at being in the house for another four years. Then, you are probably a good candidate. You don't want to put money down if you are going to be there for four years.
RealEstate.com Names CEO Charlotte Business Journal Oct 29, 2010
Steve Ozonian has been named chief executive of RealEstate.com, the online realty exchange division of Tree.com and a sister business of LendingTree.
It is a newly created position.
Ozonian has held executive posts that include CEO of Realtor.com, as well as national homeownership executive for Charlotte-based Bank of America Corp. (NYSE:BAC). As a member of Tree.com’s board since 2008, Ozonian helped develop RealEstate.com and Tree.com and its family of brands.
Tree.com Reports Profit, Names Unit Leader The Charlotte Observer Rick Rothacker Oct 29, 2010
Charlotte-based Tree.com Inc. reported a third-quarter profit as low interest rates boosted refinancing activity at the parent of online lending marketplace LendingTree.
Tree.com said it made $1.8 million in the quarter, an improvement over a $7.4 million loss a year earlier. Revenue increase to $53.2 million from $50.7 million a year ago.
Separately, Tree.com said it had named Steve Ozonian chief executive of the company's RealEstate.com unit, a company-owned real estate brokerage business. Ozonian has been a Tree.com board member since 2008 and is a former Bank of America Corp. executive.
Home Loan Seekers Face Uphill Battle FOXBusiness.com Oct 29, 2010 LendingTree Chief Economist Cameron Findlay featured on FOXBusiness.com in an interview with Liz MacDonald on the current mortgage climate.
How to Shop Online for a Mortgage Stock Markets Review Oct 26, 2010
Another popular choice is submitting a request through a lead aggregator. Companies such as LendingTree, LowerMyBills, and SecureRights are large aggregators who collect consumers’ requests through their online forms and then sell that data to a number of mortgage companies who then contact users with offers. Today, many mortgage lenders and brokers use automated pricing engines which will quote a rate, APR, and closing costs within seconds
LendingTree.com Weekly Mortgage Rate Pulse Reveals Rising Rates Motgage Mag News Oct 26, 2010
Average mortgage rates rose this week, according to the LendingTree Weekly Mortgage Rate Pulse, a snapshot of the lowest and average mortgage rates available within the LendingTree network of Lenders.
On October 19, average home loan rates offered by LendingTree network lenders slightly climbed week-over-week to 4.28% (4.49% APR) for 30-year fixed mortgages, 3.7 percent (3.99% APR) for 15-year fixed mortgages and 3.27 percent (3.18% APR) for a 5/1 adjustable rate mortgage (ARM).
How to Shop for a Home Loan SayEducate Matthew C. Keegan Oct 19, 2010 You have a number of options available to you when it comes to obtaining quotes. Your current bank or credit union is the easiest route to take, but do not stop there. Competing community and national banks serving your area should also be explored.
In addition, consider using a loan quote service such as Lending Tree to help you broaden your search. You may discover a bank or mortgage company outside of your area willing to lend you money and at better terms.
Mortgage Rates - Latest Data Show Rates Dropped to Record Lows Star Global Tribune Blake Hartman Oct 18, 2010
The latest figures released by LendingTree, LLC, the leading online lender exchange and personal finance resource in the United States, indicated that average mortgage rates across the LendingTree network of lenders had dropped to new lows this week. These figures were outlined in their latest Weekly Mortgage Rate Pulse, which provides details of the lowest and average mortgage rates available within the LendingTree network of lenders.
According to the report, the average mortgage rates offered by LendingTree network lenders for 30-year fixed mortgages was 4.24%, which works out to 4.45% APR, the average rate for 15-year fixed mortgages was 3.68% which works out to 3.99% APR and the average rates offered for 5/1 Adjustable Rate Mortgages (ARMs) was 3.19%, which works out to 3.52% APR.
Defense Enters New Frontier, and Region is on Leading Edge The Charlotte Post Ronnie Bryant Oct 18, 2010
Tree.com Inc. also is adding employees. The LendingTree parent is increasing its workforce by 40 employees as part of a 75-person expansion over the next few months. The company already has 764 employees at its Charlotte headquarters.
LendingTree Mortgage Rate Pulse Reveals Lowest Rates on Record Daily News Pulse Adriana Barnes Oct 17, 2010
CHARLOTTE, N.C. – The first week of October had the lowest levels of average mortgage rates on record according to LendingTree’s Weekly Mortgage Rate Pulse. The rate pulse shows the lowest and average mortgage rates that are available within the network of lenders.
The average home loan rates dropped week-over-week to 3.81 percent for 15 year fixed mortgages and to 4.35 percent for 30 year fixed rate on October 5, 2010. These rates were offered by lenders on the LendingTree.com network.
Mortgage Rates Move To New Record Low WHTC.com Metro Source Oct 15, 2010
Average mortgage rates fell in Michigan and across the country to yet another record low. The LendingTree Weekly Mortgage Rate Pulse found the rate for 30-year fixed mortgages moved from four-point-three-five-percent to four-point-two-four-percent. Average 15-year and adjustable rate mortgage rates also fell this week to three-point-six-eight-percent and three-point-one-nine-percent respectively. The lowest LendingTree mortgage rate being offered in Michigan is three-point-eight-eight-percent.
LendingTree Hiring 200 Employees CaliforniaRealtySite.com Oct 14, 2010
Around 200 new employees are being recruited by LendingTree LLC in California and North Carolina. Growth is at the heart of the hiring campaign.An Oct. 20 job fair in Charlotte, N.C., is expected to help the company recruit 75 employees in its hometown, LendingTree spokeswoman Nicole Hall said in a statement to Mortgage Daily.The open jobs include technology, customer relations and marketing positions.
Mortgage Rates Fall Again Birmingham Business Journal Jeff Clabaugh Oct 14, 2010
Low rates have spurred another refinancing wave. Conventional mortgage applications jumped 24 percent last week to the strongest pace since April 2009, according to the Mortgage Bankers Association.
According to the LendingTree Weekly Mortgage Rate Pulse, the lowest rate in Alabama for this week was 3.88 percent.
Mortgage Rate Trend Index BankRate.com Oct 07, 2010
Cameron FindlayChief economist, LendingTree.com, Charlotte, N.C.
Last Friday, Federal Open Market Committee Vice Chairman William Dudley made comments regarding the Federal Reserve's commitment to adhere to the dual mandate of promoting price stability and maximizing sustainable employment. In light of that, I fully expect we will see additional government stimulus in the form of quantitative easing, causing mortgage rates to decline.
LendingTree Foundation Names Director Charlotte Business Journal Oct 01, 2010
The LendingTree Foundation has named Sharon Fowler as its executive director.
Fowler joins the newly formed organization from Hope Worldwide, an international charity where she was responsible for program development.
LendingTree established the foundation to improve financial literacy among consumers. It is a private, nonprofit organization designed to provide advice to families and individuals with financial problems. In addition, Charlotte-based LendingTree has created a website, AboutFinancialLiteracy.com, that offers tips and tools for those looking to get their finances on track.
Mortgage Rates - Latest Data Shows Decrease In Average Rates Star Global Tribune Blake Hartman Oct 01, 2010 According to the latest data released by LendingTree, LLC, in their LendingTree Weekly Mortgage Rate Pulse, the average mortgage rates offered by lenders within the LendingTree network have reduced slightly this week. The latest figures for the average 30-year fixed mortgages were 4.39 percent, which works out to 4.6 percent APR, the average rate for 15-year fixed mortgages was 3.86 percent, which works out to 4.17 percent APR, whilst the average rate for 5/1 Adjustable Rate Mortgages (ARMs) was 3.39 percent, which works out to 3.66 percent APR.
Will Seller Financing Sell Your Home? BankRate.com Michelle Lerner Sep 28, 2010
Because borrowers with this profile are considered riskier, sellers often can charge as much as 8 percent or 9 percent in interest, which is more than many other investments earn.
Foreclosure Flaws May Slow Home Price Fall, Delay Recovery Bloomberg Bob Ivry, Prashant Gopal and Jody Shenn Sep 27, 2010
The increasing time between default and foreclosure may embolden more homeowners to stop paying their bills, said Cameron Findlay, chief economist at LendingTree.com in Irvine, California. Overwhelmed lenders are likely to address the worst cases first, leaving many delinquent borrowers in their homes for longer periods of time, he said.
One issue is the lack of staffing all along the mortgage pipeline, said Lucy Griffin, president of Compliance Resources Inc. in Reston, Virginia, which does legal-compliance training for mortgage lenders.
The Lenders Clamp Down The Boston Globe Jennifer B. McKim Sep 26, 2010
“Borrowers should make sure expectations regarding the processing of their loan are clearly identified so they don’t risk losing their locked interest rate,’’ Findlay said.
Refinancing: Is Now the Right Time? SmartMoney AnnaMaria Andriotis Sep 20, 2010
Rates offered for refinancing vary widely. They’re based in part on the borrower’s FICO credit score and the state in which he or she lives, says Cameron Findlay, chief economist at LendingTree. Lenders look at the state’s average loan-to-value ratio and the percent of homes with negative equity – the higher these numbers, the higher the rate a borrower is likely to be offered, he says.
Nevada’s average LTV ratio is 120%, and 68.1% of homes have negative equity, according to LendingTree. The lowest rate offered for home purchases and refinances there is 4.13%. In contrast, 3.88% is the lowest rate offered in New Jersey, where the LTV ratio averages 61% and 15.4% of homes have negative equity.
In addition, in an attempt to manage the spike in refinancing applications, some lenders are increasing pricing to slow down the number of applications they receive while making more money on each transaction, says Findlay.
Mortgage Interest Rates Rising BusinessNews.com Sep 20, 2010
In a weekly status report conducted by the Lending Tree, mortgage interest rates increased this week within the LendingTree system. While the lowest rate for a 30-year fixed mortgage currently offered by lenders in the LendingTree’s network is around 3.875 percent, the average home loan rates rose week-to-week up to 4.49 percent.
LendingTree is the top online lender exchange and personal finance resource. It is basically a hub for consumers to compare services provided by different lenders. In addition, LendingTree helps consumers manage their finances by providing tools that aid in their financial decisions.
Mortgage Rates on the Rise Birmingham Business Journal Tucker Echols Sep 16, 2010
A report earlier this week from the Mortgage Bankers Association showed that the refinance market is losing a little steam. Mortgage refinance applications declined 10.8 percent last week while purchase applications fell 0.4 percent. Refinances still account for four out of every five applications.
According to the LendingTree Weekly Mortgage Rate Pulse, the lowest mortgage rate in Alabama for the week was 3.88 percent
Falling Home Values Make Refinancing Tough The Atlanta Journal-Constitution Michelle E. Shaw Sep 14, 2010
While many financial institutions don’t publish the number of mortgage applications they get, LendingTree.com produces an index that shows refinancing applications doubled nationally since April and continue to rise. Applications in Atlanta spiked as well but began falling in the past few weeks, according to the index.
“I think we will soon see this same thing happening across the country,” said Cameron Findlay, chief economist for LendingTree.com
Why Zero Percent Will Still Cost You Money AOL.com Gary Hoffman Sep 06, 2010
The continuing debt load will never seem to go away, complicating the process of buying a new car down the road. Gary Pierce of Lending Tree Autos, an online clearinghouse for car loans, said consumers’ tendency to go along with the process shows up in his statistics, too. One out of 10 pre-approved Lending Tree deals doesn’t survive the negotiating process in the dealership; the buyer accepts a dealership offer instead.
That’s a testament to the persuasive power of the salesperson and the environment. It’s also a sign that dealerships can be good sources of financing. They have long-standing relationships from a variety of lenders and can be especially helpful if a buyer has credit problems. But it may take a competing offer from a non-dealership source to lead a dealer to come up with the best possible counter-offer. “Hopefully, customers are getting a good deal in those cases, as much as we would like to be the one providing them with the loan,” Pierce said.
To Rent or Buy? How to Weigh it Out The Palm Beach Post Kimberly Miller Sep 03, 2010
A more complex evaluation of whether it's better to rent or buy in today's market can be completed using one of many online calculators.
Most of these calculators consider mortgage rates, down payments, tax breaks and closing costs when figuring the ratio. Some go as far as calculating annual maintenance on a home, monthly rental insurance and your personal rate of savings.
At Lendingtree.com, the calculation favors buying a $200,000 home as opposed to renting at $1,100 a month under the following circumstances: the buyer puts 20 percent down on a 30-year loan with a fixed 4 percent interest rate, and plans to stay in the home for at least five years.
Mortgage Rates Fall Again Birmingham Business Journal Jeff Clabaugh Sep 02, 2010
The average rates ont a15-year fixed-rate mortgage fell to 3.83 percent, down from 3.86. A one-year adjustable-rate mortgage averaged 3.50 percent, down from 3.52 percent.
According to LendingTree's Weekly Mortgage Rate Pulse, the lowest rate found in Alabama this week was 3.88 percent.
Mortgage Rates Continue to Drop Star Global Tribune Blake Hartman Sep 02, 2010
The latest figures released by LendingTree in their Weekly Mortgage Rate Pulse indicate that mortgage rates have fallen to new lows, with rates as low as 4.00 percent (4.13 percent APR) for 30-year fixed mortgages, 3.50 percent (3.74 percent APR) for 15-year fixed mortgages and 3.00 percent (3.46 percent APR) for 5/1 adjustable rate mortgages (ARMs) being offered by lenders within the LendingTree network.
The LendingTree Weekly Mortgage Rate Pulse also released figures for the average mortgage rates being offered across its network of lenders, which have also dropped since last week. The current average mortgage rates are 4.38 percent (4.58 percent APR) for a 30-year fixed mortgage, 3.86 percent (4.15 percent APR) for a 15-year fixed mortgage and 3.41 percent (3.7 percent APR) for a 5/1 ARM.
Cameron Findlay, Chief Economist of LendingTree.com, commented on reasons behind the figures in the latest Weekly Mortgage Rate Pulse: “Gross Domestic Product second quarter forecast results showed the economy is growing at an annualized rate of 1.6%, less than last month’s 2.4% forecast. This slowdown was attributed to a decline in housing and investment in business, suggesting consumer spending may follow suit
Realty Check: Let Home Prices Fall? CNBC Sep 01, 2010 Discussing whether letting home prices fall is a solution to the housing crisis, with Tom Petruno Los Angeles Time markets columnist, and Cameron Findlay, Cheif Economist for LendingTree.com.
Mortgage Rates - New Figures Reveal Drop in Average Rates Star Global Tribune Blake Hartman Aug 26, 2010 The latest mortgage rates released by LendingTree LLC in their Weekly Mortgage Rate Pulse published every Wednesday indicated that average mortgage rates fell last week. The figures released show that it was now possible to obtain loans from lenders in their network for rates as low as 4 percent for a 30-year fixed mortgage, 3.5 percent for a 15-year fixed mortgage and just 2.75 percent for a 5/1 adjustable rate mortgage (ARM), which correspond to annual percentages rates (APR’s) of 4.13 percent for 30-year fixed mortgages, 3.74 percent for 15-year fixed mortgages and 3.43 percent for a 5/1 ARMs.
Economic Jitters Send Mortgage Rates To 4.42 Pct. Associated Press Alan Zibel Aug 19, 2010
More people are taking advantage of the rates to refinance their existing loans, with activity reaching the highest level since May 2009.Many lenders are having a hard time keeping up. Like many employers, they have also slashed jobs because of the tough economy. Now they have fewer people available to process loans."They're trying to slow the number of loans they have coming in because they can't handle the volume,'" said Cameron Findlay, chief economist at LendingTree.com.Rates are unlikely to fall to 4 percent in the next few weeks but could easily do so in the coming months, Findlay said.
Alabama Sixth Lowest for Consumers with Negative Home Equity Birmingham Business Journal Ty West Aug 19, 2010
Alabama has one of the lowest percentages of consumers with negative home equity, according to the LendingTree Weekly Mortgage Rate Pulse.
Approximately 8.6 percent of consumers in the state have negative equity, according to the weekly report, which looks at mortgage and refinancing trends within the LendingTree network.
This Week's Real Estate Stories - Expect Mortgage Rates To Remail Low for a While MarketWatch - Real Estate Weekly Amy Hoak Aug 06, 2010
The 30-year fixed-rate mortgage averaged 4.49% for the week ending Aug. 5, assuming payment of an average 0.7 point. (A point is 1% of the mortgage amount, charged as prepaid interest.) According to a release from LendingTree.com, lenders on the website's network were offering rates as low as 4.125% for a 30-year fixed-rate mortgage on Aug. 3.
"Last week's second quarter gross domestic product numbers reflected a 2.4% growth rate, less than the forecasted 2.6%," Cameron Findlay, chief economist of LendingTree.com, said in a news release.
U.S. Mortgage Rates Hit Record Lows Reuters Julie Haviv Aug 05, 2010
Cameron Findlay, chief economist at LendingTree.com in Charlotte, North Carolina, said the housing market is vulnerable, with a flood of foreclosures in the pipeline and high unemployment weighing heavily.
"The world essentially collapsed after the tax credits expired," he said. "This baby cannot walk on its own without government intervention."
Findlay said his biggest concern is that the economy is going to stall and believes there is a 30 percent chance of a double-dip recession.
How Long Will Rates Stay Low? About.com Justin Pritchard Aug 05, 2010
Yogi Berra noted that "it's tough to make predictions, especially about the future." However, we still like to try. This week, LendingTree.com's Chief Economist took a stab at calling rates.
According to Cameron Findlay, slow economic growth means "borrowers can expect mortgage rates to remain low." Somebody affiliated with a lending service would have an incentive to say the opposite if possible - hoping to get borrowers to move fast and close loans. However, Findlay's call suggests that even LendingTree expects a long, slow slog out of the recession.
Home Loan Purchase Demand up 3rd Straight Week ABC News (Reuters) Julie Haviv Aug 04, 2010
Kurt Gleeson, national vice president of sales at RealEstate.com, a division of LendingTree, which is headquartered in Charlotte, North Carolina, said he expects poor home sales over the next two to three months.
"The housing market is sputtering," he said. "There is a smaller pool of buyers who can afford to purchase a home. The economy, and more specifically, the sluggish employment market, has excluded many potential buyers from the housing market.
"Jobs growth ranks No. 1 in importance for the housing market and without it there will be no rebound," Gleeson said.
Key insight into the state of the jobs market will emerge on Friday when the U.S. Labor Department releases July data.
5 Home Mortgage Trends for Late Summer BankRate.com Aug 02, 2010
A lot of folks want to refi, and have tried to refi, but don't qualify because they have little or no equity. When their homes dropped in value during the housing crash, they lost their ability to refinance. They can't borrow more than the house is worth.
"It's not really rate that's driving people into not being able to refinance and lower their overall mortgage costs," says Cameron Findlay, chief economist for LendingTree.com. "A lot of people are being disqualified ... because their home has depreciated so much."
Cover Story: Market 'balanced' after tax-credit end The Washington Times Michele Lerner Jul 29, 2010
The tax credit that expired April 30 was actually the third round of federal homebuyer tax incentives. The first, for 2008 homebuyers, requires repayment over 15 years, while the 2009 and 2010 credits do not need to be repaid. The second tax credit applied only to first-time homebuyers, while the third also included incentives for move-up buyers. The second tax credit expired Nov. 30, 2009.
Robert DiBiase, vice president of sales for the Capital Region for RealEstate.com, says, "From the time the tax credit was extended at the end of November last year through April of this year, the number of contracts in our office tripled."
Making Sence of Mixed Housing News MainStreet Althea Chang Jul 28, 2010
“It may take up to a year for a foreclosure to occur, and homes that have been simply abandoned would not be included in the statistics we’re seeing,” says Kurt Gleeson, vice president of National Sales at Realestate.com.
That means that the actual number of empty homes could be even higher than the already elevated numbers the Census Bureau is reporting.
Mortgage Rates at Record Lows, But Who Can Get Them? The South Florida Sun - Sentinel Harriet Johnson Bracky Jul 26, 2010
Applications for refinancing are up in Florida and nationwide, according to online lender Lending Tree.
Nationwide, four out of five conventional loan applications and more than half of Federal Housing Administration and Veterans Administration loan applications were for refinances in the last month, according to Freddie Mac Economist Frank Nothaft. The Mortgage Bankers Association says its weekly index of applications to refinance nationwide for the week ended July 16 was at the highest point since mid-May last year.
Sen. Hagan backs efforts to improve financial literacy The Charlotte Observer Danielle Kucera Jul 24, 2010 Senator Kay Hagan shared her personal interest in financial literacy Friday during a visit to Charlotte-based LendingTree, which recently created a foundation devoted to the cause. The senator's interest in financial literacy education grew from seeing young people battle credit card debt without understanding it. "It's not like it's science," she said after tour of the firm's Ballantyne facility. "We just don't teach it." Tree.com, an online lending and real estate company, is the parent company of LendingTree, which matches consumers to lenders of various types of loans. A nonprofit arm launched in April, The LendingTree Foundation, provides low-income families and individuals with a mentor to help them resolve financial difficulties. "It's for people who...just need the coaching to overcome the financial problems they've faced," said Nicole Hall, a LendingTree spokeswoman.
Senator Kay Hagan shared her personal interest in financial literacy Friday during a visit to Charlotte-based LendingTree, which recently created a foundation devoted to the cause.
The senator's interest in financial literacy education grew from seeing young people battle credit card debt without understanding it.
"It's not like it's science," she said after tour of the firm's Ballantyne facility. "We just don't teach it."
Tree.com, an online lending and real estate company, is the parent company of LendingTree, which matches consumers to lenders of various types of loans. A nonprofit arm launched in April, The LendingTree Foundation, provides low-income families and individuals with a mentor to help them resolve financial difficulties.
"It's for people who...just need the coaching to overcome the financial problems they've faced," said Nicole Hall, a LendingTree spokeswoman.
Mortgage Rates Tie Record Low BankRate.com Holden Lewis Jul 22, 2010
Although refis are up, refinancing activity hasn't been as high as one typically would expect with rates so low. More than 60 percent of existing mortgages have rates above 5.75 percent or so, says Cameron Findlay, chief economist for LendingTree.com.
"There's a reason why they're not refinancing, and it's got nothing to do with rate," Findlay says.
The problem, as Findlay and others see it, is that many homeowners are underwater -- they owe more than their houses are worth. Or even if they're not underwater, they have less than 20 percent equity, so they would need to buy mortgage insurance after refinancing. That makes a refi less worthwhile
Local Tech Briefs Local Tech Wire Jul 22, 2010
CHARLOTTE, N.C. – Mortage rates remain at record lows, according to the latest data from LendingTree’s Weekly Mortgage Rate Pulse.
“On July 20, lenders on the LendingTree network offered mortgage rates as low as 4.25 percent (4.39% APR) for a 30-year fixed mortgage, 3.75 percent (3.99% APR) for a 15-year fixed mortgage and 3.125 percent (3.50% APR) for a 5/1 adjustable rate mortgage (ARM). Rates for 30 and 15-year fixed loans remained flat, while 5/1 ARM rates fell an eighth of a point,” LendingTree reported.
Mortgage Rate Trend Index BankRate.com Jul 22, 2010
Clark County sees resurgence of homebuyers The Columbian Cami Joner Jul 21, 2010
Mortgage rates reached record-breaking lows this week, diving to a low of 4.25 percent for a 30-year fixed mortgage and 3.75 percent for a 15-year fixed mortgage, reported LendingTree’s Weekly Mortgage Rate Pulse, a snapshot of the lowest and average mortgage rates available within the LendingTree network of lenders.
The rates have spurred local sales of new homes, which are now priced well below their one-time highs.
“They (buyers) were kind of waiting and now they seem ready to go,” said Laura Bellcoff, a marketing supervisor for Vancouver-based New Tradition Homes.
Belcoff called most new-homebuyers “definitely move-up buyers. They are coming in at our higher end,” buying houses in the $400,000 to $450,000 price range,” she said.
Negotiate the Mortgage Rate on Your First Home MyBankTracker.com Jul 14, 2010
Don’t fear — the home buying market is not necessarily a bad place to be right now. Mortgage rates are low and prices may have started to hit bottom in many locations. And if you’re willing to push for a hard bargain, you may be able to get an even better rate on your mortgage, according to LendingTree.com
Why Mortgage Rates Vary So Much New York Times Bucks Blog Jennifer Saranow Schultz Jul 12, 2010
With mortgage rates at record lows, you may be thinking about buying a home or refinancing your existing mortgage.
If so, be sure to shop around for the best mortgage rate you can get and even try bargaining. Why? According to Cameron Findlay, LendingTree’s chief economist, the difference between the rates lenders are giving consumers and what they are paying investors is much higher than it was back when the recession started, meaning that even while rates seem low, lenders have bigger margins and, therefore, have plenty of wiggle room to offer you an even better rate.
Record low rates have homeowners thinking again about financing Contra Costa Times Eve Mitchell Jul 11, 2010
"You want to have at least a five-to-seven year horizon" to recover those costs, said Cameron Findlay, chief economist for LendingTree.com.
Rates for a 30-year-fixed were at 4.58 percent on July 1, the lowest since mortgage giant Freddie Mac began keeping records in 1971. Rates were expected to climb this spring after the end of a Federal Reserve program that supported a massive buying program for mortgage-backed securities. But after the program ended, interest rates on both fixed-rate and adjustable-rate mortgages dropped as investors turned to Treasury bonds in response to Europe's debt crisis.
One year from now, Findlay expects interest rates for a 30-year-loan will rise slightly to between 5.17 percent and 5.35 percent.
Mortgage Rate Trend Index BankRate.com Jul 08, 2010
I view this very simply from an investor standpoint ... which would say investing in mortgage-backed securities versus other alternative debt instruments (even riskier assets like high-yield corporate debt) is not there. If strength for MBS pulls back, I expect it to be quick, resulting in shocks to current rates and driving them higher. The only thing supporting current levels is lack of other viable alternatives, not the idea that MBS imply any value for investors.
Mortgage Rates on 30-Year U.S. Loans Fall to Record Bloomberg.com Prashant Gopal Jul 01, 2010
The decline in mortgage rates, fueled by investor demand for government-supported bonds tied to housing loans, has failed to lift U.S. home sales after the April 30 end of a federal tax credit for buyers. Purchases are more dependent on consumer confidence and employment than rates, said Cameron Findlay, chief economist at Lendingtree.com in Irvine, California.
The housing market “is not a rate discussion these days,” he said. “If you have an improvement in jobs, people have more disposable income and that will improve home sales.”
LendingTree Launches free Mortgage Rate Finder App for Blackberry Smartphones Certpiles.com Jun 29, 2010
LendingTree Mortgage Rate Finder is a new BlackBerry app that aims to help you get annonymous loan offers wherever you are. Simply enter your criteria into the app, and instantly receive up to 30 different customized offers from lenders. Click the offer you like, and the lender will contact you to get started. Features of the app include:
Advice on Home Improvement Loans LovetoKnow.com Ryan Dube Jun 28, 2010
If you are looking to take on any major home renovations and you need advice on home improvement loans, then you've come to the right place. In this exclusive LoveToKnow interview with Nicole Hall, the Editor-in-Chief of LendingTree.com, you'll learn the answers to some of the most commonly asked questions that people have about home improvement loans
Advice on home improvement loans is only one thing that you'll discover at LendingTree. The website is a free service for consumers to learn more about loans and finances, and it is a paid service for banks and lenders who are hoping to have you as a client. In this interview, Nicole offers consumers some valuable insight and advice on home improvement loans and how you can use them to improve your home or take on that home repair project that you've been putting off for so long because you didn't think you could afford it.
Financing a Short Sale Chicago Tribune Jun 26, 2010
Essentially, what you are doing at this early stage is determining what range you can qualify for when bidding on a short sale property, says Charlotte, NC-based Cameron Findlay with web-based lending platform LendingTree.com.
Financing a home in a short sale for $200,000 and for $400,000 are two very different things, he says. That's because a $400,000 home is likely to have experienced a much steeper price decline, and because a greater concentration of short sale homes is to be found in the higher bracket than in the lower bracket.Banks are generally more willing to work with buyers of lower-priced homes because less has been lost. These buyers also have more options for financing than buyers of costlier properties, Findlay says.
US Home Loan Demand Drops Even as Rates Fall CNBC Reuters Jun 23, 2010
"Weak home purchase loan demand indicates a rough ride is ahead for home sales," said Cameron Findlay, chief economist at LendingTree.com in Charlotte, North Carolina.
The housing market remains highly vulnerable to setbacks, with a flood of foreclosures in the pipeline and unemployment stubbornly high at 9.7 percent, he said.
"We will not see a sustained improvement in housing until we get to a sub-9 percent unemployment rate, which I do not see happening until the third quarter of 2011," he said.
Home equity loans, HELOCs tough to find BankRate.com Craig Guillot Jun 14, 2010
People were used to thinking they could easily get $50,000 in credit," says Cameron Findlay, chief economist for LendingTree.com. "That's just not the case anymore."
However, what might seem like a horrific nose dive in home equity lending is merely a return to more normal times, Findlay says. During the height of the housing boom in 2006, banks were extending loans of up to 100 percent -- and sometimes even more -- of a home's value.
Customer Reviews Drive Growth Bank Technology News Michael Sisk Jun 02, 2010
As scary as that may be, as people become more comfortable sharing information and making decisions online, FIs may soon feel competitive pressure to create these forums. Tom O'Neill, director of site innovation at LendingTree, says the trend is clear. "Customers expect to read other consumers' reviews of products and services, and it can be great from a viral marketing perspective. In the future, those FIs that don't put this information on the site will be at a disadvantage."
KCNC Denver, CO CBS4 News at 10 CBS4 News at 10 KCNC-DEN (CBS) May 26, 2010
LendingTree offers miles for mortgages, finance a home and you'll earn 90,000 miles
Existing home sales rise in Midwest, fall overall for Feb. Detroit Free Press Greta Guest Mar 24, 2010
Cameron Findlay, chief economist at Lending Tree, said the lower median prices continue to be a problem in hard-hit states such as Michigan where high unemployment rates could push some people to move for jobs elsewhere.
"Your options to get out of the house have been narrowed," he said
Existing home prices down, but not as far Atlanta Journal-Constitution Michelle E. Shaw Mar 23, 2010
Even though Atlanta didn’t see improvement in February, gains may not be far behind, said Cameron Findlay, chief economist for LendingTree.com.
Businesses want more signs of recovery before hiring The Atlanta Journal-Constitution Michael E. Kanell Mar 05, 2010
Most economists say recovery hinges largely on housing, but all indications are that real estate’s turn will be slow. National prices will likely decline about 5 percent more in the next year, said Cameron Findlay, chief economist of LendingTree, the Charlotte-based, online finance and mortgage company.
Big drop in January home sales show housing market could falter after federal support ends San Francisco Examiner Alan Zibel Feb 26, 2010
Another question hanging over the housing market this year is whether interest rates will rise, and by how much. The Federal Reserve's $1.25 trillion program to push down mortgage rates is scheduled to expire on March 31.
After that program runs out, mortgage rates should not spike, but rather rise gradually to about 6 percent over the next year, predicts Cameron Findlay, chief economist at LendingTree.com.
Housing Market Shows Weakness for 2nd Month ABC News Feb 26, 2010
Housing market shows weakness for 2nd month Business Week Alan Zibel Feb 26, 2010
After that program runs out, mortgage rates should not spike, but rather rise gradually to about 6 percent over the next year, predicts Cameron Findlay, chief economist at LendingTree.com. That will mean homebuyers may have to reduce their price range, and that trend could put downward pressure on prices.
January home sales fall 7.2%, median price unchanged USA Today Alan Zibel Feb 26, 2010
After that program runs out, mortgage rates should not spike, but rather rise gradually to about 6% over the next year, predicts Cameron Findlay, chief economist at LendingTree.com. That will mean homebuyers may have to reduce their price range, and could put downward pressure on prices.
Housing market shows weakness for 2nd month Kansas City Star Alan Zibel Feb 26, 2010
Home prices still falling, but getting better San Francisco Chronicle Robert Selna Feb 24, 2010
Cameron Findlay, the chief economist at LendingTree, said that market speculation also could cause volatility. Speculators are likely to purchase property in the Bay Area, believing that values will increase at a higher rate than other places, Findlay said.
Buying tends to burn through inventory, which can drive up prices. But, as sellers are encouraged to enter the market, supply returns and prices can drop, according to Findlay.
New Statistics Show Home Prices Increasing in Several Areas HomeSpace Beth Elstien Feb 24, 2010 Lending Tree’s chief economist, Cameron Findlay, notes on his blog that this ”report could indicate growth or decline in home prices. The bottom line, however, was that we did NOT see a decline of any magnitude, which is good news.” The bad news is that unemployment is still high forcing a record number of foreclosures. Many fear another wave of foreclosures is upon us.
Power Breakfast: Housing market stabilizing, College Hall of Fame, World Congress Center, Home Depot, Toyota The Atlanta Journal-Constitution - The Biz Beat Henry Unger Feb 24, 2010
But that slight decrease shouldn’t be seen as a negative, said Cameron Findlay, chief economist for LendingTree.com.
“You want to see that,” he said. “You don’t want to see huge spikes in value changes, which we are seeing in other places.”
Findlay said Atlanta’s trend is “nice and even” and its continuous improvement will be attractive to investors and consumers.
Home prices regaining stability The Atlanta Journal-Constitution Michelle E. Shaw Feb 23, 2010
Atlanta’s average price in December fell nearly 1 percent over November, according to Standard & Poor's Case-Shiller Index, released Tuesday. But that slight decrease shouldn’t be seen as a negative result, said Cameron Findlay, chief economist for LendingTree.com.
He said Atlanta’s trend is “nice and even” and its continuous improvement will be attractive to investors and consumers
Housing’s Crystal Ball New York Times Bob Tedeschi Feb 17, 2010
But Cameron Findlay, the chief economist for LendingTree.com, predicted that rates could go as high as 6 percent without any government intervention.
Mr. Findlay also studied the mortgage burden of households across the nation, as a guide to how quickly particular states could recover from the recession.
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