Sadly home sales are not at the levels needed, and they dropped in March for a current level that some say is “extremely unhealthy”. It seems the home prices are continuing to fall thanks to difficulties qualifying for home loans, or being able to get the large down payments needed. While the rates are attractive it is still worrying for some people to enter a market like we have at the moment, although there are plenty of predictions that things are about to change when it homes to home prices increasing rather than falling.

Have you bought a new home recently, and does the current market worry you? Read more in this article, or have a watch of the video below that shows Foundation Financial Group’s CEO, Mark W. Boyer, discussing rising home prices.

No matter how bad certain industries get you’ll always find a few companies doing well, and in some circumstances maybe even better during economic hardship. It’s the view of some analysts that Wells Fargo’s mortgage presence is something very unique, and their bank sets itself apart from the competition by doing some things very different.

You can see a video below this article with Halah Touryalai and Halah Touryalai giving you an inside look at Wells Fargo, which we found extremely interesting and refreshing considering the current state of banking. The video explains how practices at Wells Fargo have helped the banks mortgage presence almost double over the last few years.

Another article that takes a look at this very topic can be seen here, and explains that Wells Fargo’s now takes 30 percent of the mortgage market, which is compared to just 15 percent back in 2007. The author looks at the winners and losers over the last few years, and one of the losers is apparently Bank of America and this is also evident in the third and fourth quarters of 2011.

Watch the video below and have a read of the above article, and then let us know what you think of Wells Fargo’s way of doing business? Those of our readers that want a little more insight into BofA’s decline, especially to the point of losing top spot in the United States for mortgages, should read another article found here. Do you think it’s a good idea for Bank Of America to pull away from the home loan business?

If you missed the full details then you can understand more about Obama’s proposal in the video below this article, although there have been a few worries over the U.S. government getting too involvement. The move would allow some homeowners to refinance through the Federal Housing Administration, which then gives these people access to historically low interest rates. Check out the video below and let us know your view on this move?

Today we’ve heard that the 30-year fixed rate has dropped even further and are now the lowest recorded ever, which is according to an article found here. The new average of 3.87% sets a record for Freddie Mac and this was helped after a recent report showed expectations were falling short when it comes to the economy and growth predicted.

The image above shows how the 30-year mortgage rate keeps improving, and this could be seen as an accident or chance for President Obama. Have a read of the above article; watch the video explaining the new proposed deal below and also let us know if you think Obama’s housing policy is a success or failure?

Would you like to see the 30-year rate drop to 3.5%? Some people think Obama should be given more time to fix the U.S. economy, although would he get your vote?

Only a couple of years ago some home owners took a loan for their home that tracked the Bank of England base rate very closely, and once this dropped to 0.5%, they had one great deal. Today you will not find any such deal, as banks are not so generous.

Another option is the lifetime tracker mortgage that is explained in an article on woolwich.co.uk, their rate is variable and will fall and rise with changes to the Barclays Bank base rate. This is a popular type of variable rate mortgage, although it carries an element of chance, as you could safe money if mortgage rates go down (BBBR in this case) or you could pay more if they increase.

Another benefit is no early repayment charges, which can catch some people out on a fixed rate.

In the latest news, Mortgage lenders are cutting rates and offering some better deals, which is due to an imminent rise in the base rate for the BoE. You can read more on how lenders are trying to attract homeowners and first-time buyers in this article.

The quick video below explains tracker mortgages in a simple way. How fast do you expect the base rate to rise over the next one to two years?

The first app we have for you is ‘UK Mortgage Calculators’ and you will be pleased to to know that it is free. What we like about this app for the iPhone is how it is 5-in-1, each one offering advice on different areas of a mortgage, be it a homeowner or a buy-to-let mortgage.

The second app for the UK is ‘Mortgager – Compare Interest Only and Repayment Mortgages’ and costs £0.59. The app is very easy to use, just put how much you wish to borrow and how long you wish the mortgage term to run for, as well as the rate that you will be able to get your home loan for. Once you have clicked done you will see how much your monthly payments will be; repayment or an interest only.

For the U.S. we have ‘Mortgage Loan Place Mortgage Calculator’ and costs just $0.99. This app is a little more complex than some of the others, as it allows you to play around with the financial tool. The reason why is because when you have a home load for say 20 years things never stay the same during that term, so creating scenarios could help you prepare for the worst.

‘Mortgage & Loan Calculator Pro – InThePhone’ is a little more expensive – but still only $1.99. This app is one of the easier ones to work, and should be able to answer certain question when it comes to not only a mortgage but also loans and if you wish to invest in a property.

We hope that these four apps will help you.

The Telegraph explains that it is important for you to keep an eye on the finer details of your mortgage – so using a broker could save you in the long run. Yes there is often a fee to pay, but a few hundred pounds it better than a few thousand.

However, a broker will also be able to advise you that it is not always a bad thing to pay a higher fee, as The Telegraph says that in some cases you can get a lower rate mortgage. Things get a little complicated to explain in detail, so a visit to the UK newspaper website will be able to explain the mortgage fees and interest rate maze in more detail.

The Guardian has already seen that a number of the best fixed-rate mortgages have now started to be pulled; we mentioned in an article yesterday that you need to act now to get those best deals. The likes of Halifax and Northern Rock have now pulled their 3.89% five-year fixed rate deal, and others will soon follow.

However, there is some good news, as The Express reports that the housing market could see a £10,000 increase in the average house price this year; despite the fact that house prices fell a little in the last half of 2010.

Have you rushed out to get a fixed-rate mortgage on the strength that the interest rate will go up?

We’ve had low rates for a while now, and these have helped the recession end and people get back on their feet. An article over on The Independent takes a look at this very topic, and explains that now is the time to pick up your calculator, and start to work out what your new mortgage payments may be.

You need to do a little research, and scan the mortgage market for what’s best for you. Most fixed-rate mortgages will have an early repayment charge, which will not be a good idea to pay in most cases, although some people it will be. Read Independents article, and let us know if you’re ready for the increase in interest rates?

With low rates we can only see things going one way. Do you think mortgage payments are about to go through the roof?

Canadian Mortgage Trends has taken a look at the ten effects these new rules may have, and this includes unsecured debt usage raising, negative personal consumption after softening home prices and rising rates. They also look at how depressing mortgage volumes will result from reduced purchase and refinance demand. Read the full 10 effects here.

Ted Rechtshaffen from the Globe and Mail also looks at how these new mortgage rules could help you lose out, and specifically retirement goals for some people. Let us know what you think of the new mortgage rules in the comments.

According to the Bank of England who believes the reason for fewer mortgages being sold was due to the bad weather and the end of the tax breaks for some house sales. Stamp duty for houses less than £175,000 was re-introduced on the 1st January 2010. 48,198 mortgages were sold in January compared to December’s total of 58,233.

Most economists expected a fall to at least 50,000; however the scale of the drop nonetheless prompted fears that the house price fall that has started to show improvement could unsettle consumers. Philip Shaw an economist at Investec mentioned that they will have to see if the down turn is “temporary or if it was a start of a longer-term decline.”

Sterling actually fell to a 10-month low versus the dollar after the data. Click here to read more on this story.