Financing Homes in Lake Tahoe and Truckee since 1992.

Lake Tahoe Home Loan Rates and Lake Tahoe Mortgage Rates-End of Day Summary-July 10, 2013

Lake Tahoe Home Loan Rates and Lake Tahoe Mortgage Rates:

The Mortgage Bankers Association reported this morning that its Market Composite Index, a measure of loan application volume, fell by 4% in the latest week as home loan rates hit their highest levels in two years. The refi index fell 4% while the purchase index declined by 3%. Home loan rates have been rising since mid-May on comments from the Fed Chairman Ben Bernanke saying that it expects to wind down the pace of its Bond buying program later this year if the economy continues to improve.

Debt collectors across the nation received bulletins on Wednesday from the Consumer Financial Protection Bureau (CFPB) reminding them that they will be held accountable for unlawful practices when trying to collect debts. Unlawful conduct includes: -threatening action that the debt collector doesn’t have the authority to pursue -fairly representing the character, amount or legal status of the debt -misrepresenting that a consumer’s debt would be waived or forgiven -failing to properly post payments or credit to a consumer’s account with payments

Americans who are collecting unemployment benefits are going to see a cutback in their weekly checks beginning this month. The average weekly unemployment check has fallen by $43 due to the effects of the sequester federal spending cuts. The job markets have been improving in 2013, but many of the jobs that have been created are from the service sector and part time workers have reached an all-time high.