Tag Archives for " interest rates "

October 27, 2014

Wells Fargo & Co. Ranks First In Charlotte’s Lists of Biggest Mortgage Lenders

Wells Fargo & Co. Ranks First In Charlotte's Lists of Biggest Mortgage Lenders

wells-fargoWells Fargo & Co. tops the list of Charlotte Business Journal’s list of the area’s biggest conventional and government-backed mortgage lenders, ranked by 2013 total mortgage amount secured by area properties.

The list shows that Wells Fargo & Co has government-backed loans amounting to $286 million and conventional loans up to $1.2 billion for home purchases and refinancing deals in Charlotte area.

From getting the 21st spot last year, Fairway Independent Mortgage Corporation has landed at the 11th place this year on the list of top conventional mortgage lenders.

According to the Charlotte regional manager of Fairway Tom Tousignant, the company has seen an increase in the overall volume to 39% at his operations even with the rising mortgage and interest rates.

Here are the top 3 largest conventional residential mortgage lenders:

  1. Wells Fargo & Co.
  2. Bank of America Corp.
  3. SunTrust Banks Inc.

Here are the top 3 largest FHA and VA residential mortgage lenders:

  1. Wells Fargo & Co.
  2. Movement Mortgage
  3. Quicken Loans Inc.

Read the October 24 issue of Charlotte Business Journal to get the complete lists.

October 24, 2014

Sales of Existing Homes Reached Highest Pace This Year

Sales of Existing Homes Reached Highest Pace This Year

According to the National Association of Realtors, existing homes currently sell at their highest annual pace this year at 5.17 million. That’s an increase from August with 5.05 million. However, this is still below the home sales from last year.

Such sales comprised of single-family houses, townhouses, condominiums and co-ops. Law Yun, NAR Chief Economist claim that such increase in September can be because of “low interest rates and price gains holding steady.”

“Traditional buyers are entering a less competitive market with fewer investors searching for available homes, but may also face a slight decline in choices due to the fact that inventory generally falls heading into the winter,” he added. Last month, the median home price was $209,700, which is 5.6 percent up from a year earlier.

Mortgage rates has also risen slightly last month, however, Yun believes that stock market volatility “is causing investors to seek safer bets, which will likely keep interest rates in upcoming weeks hovering near or below where they are now.”