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Do Credit Inquiries Hurt My Credit Score?

Do credit inquiries hurt my score?

This is a great question and a common one!  Many potential home buyers are afraid to let a lender pull their credit report because they think it will drop their score.  This is actually a very harmful MYTH and let me explain why.

Mortgage lenders use a scoring

WHERE ARE RATES HEADED? Update Fort Mill Mortgage Rates

Post From Loan Officer Olan Carder

This is always the million dollar question. I get asked more than anything else, “Where are rates? Where are rates going? What are rates about to do?”

This is a tough question for the average loan officer because although we deal with rates all day everyday, many loan officers don’t

Mortgage Rates Still All Time Low

mortgage-interes-rate-drop

Mortgage rates have increased slightly in the last couple months but overall, today’s rates are still affordable.

Here’s a brief  history of 30 year mortgage rates for the last 20 years.

In 1990, rates averaged 10.5%. Rates showed a steady decline year to year until 2004. Rates in 2003 where around 5.6% then jumped to6.4% in 2004. Rates

New 30% Down Payment Rule Might Hurt Housing Market!

American Security Mortgage

The newly passed Frank Dodd Bill has a risk retention rule that states anyone originating a home loan must retain 5% in reserves against that loan. Basically Congress is requiring lenders to put a little more skin in the game. This sounds like it makes sense, but let’s take a closer look at what this might

Mortgage Rate Update and Its NOT Good News!

Mortgage Update  Tuesday December 14th 2010

Rates are on the move AGAIN! The MBS Market is down over 100 basis points again and rates are headed for or are already at 5%. I will keep you posted through the week.

Why are rate going up? The risk of inflation has increased the risk on the yield