America's #1 Mortgage Rates Report: June 30, 2008 - 06/30/08 03:57 PM
Mortgage rates in San Diego for June 30, 2008. Loan amounts up to $417,000:
3/1 ARM 5.250%5/1 ARM 5.500%7/1 ARM 5.750%10/1 ARM 5.875%
All rates offered to the borrower with 1 point cost. Rate quotes … (1 comments)
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America's #1 Mortgage Rates Report: June 25, 2008 - 06/25/08 11:24 AM
No recommendation until tomorrow. All eyes are on the Federal Reserve Open Market Committee today. At 2:15PM (EDT), 11:15 (PDT), they will release their interest rate decision and statement. The fixed income securities market believe there is a 43% chance that the Fed will RAISE rates, to stifle inflation, in August … (5 comments)
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Oceanside Real Estate Investments: Consider the "Hard Working" 92057 Zip Code - 06/24/08 10:28 PM
Have you considered the 92057 zip code in Oceanside for your next investment property? We think there is a compelling argument for the long-term property investor. Consider this question on Trulia Voices:
How is San Diego market doing now? Is it good time to buy investment/rental properties?Which zip codes have best … (1 comments)
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Are Lead Vendors a Bunch Of Tools? - 06/23/08 11:28 PM
I think a little bit differently about marketing than Greg Swann does. Not much, but we’re of slightly different mindsets. I’m not scared to call a name a lead, a voice on the phone a prospect, a loan applicant a borrower, and a funded loan recipient a client. I KNOW they’re … (0 comments)
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Who Wants To be a Better Blogger? - 06/22/08 10:48 PM
Last year, Active Rain sponsored a contest called Project Blogger. It was a fantastic idea where the A-list bloggers tutored some of the newer bloggers. A competition was held and the winner was given a check for $5,000 to give to her charity. Mary Pope-Handy was awarded that prize; a worthy … (10 comments)
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No Fee Mortgage PLUS Points - 06/21/08 01:15 PM
I actually went into the bank lobby yesterday and noticed an advertisement for a "No Fee Plus Mortgage". After reading the terms and conditions of the offering, I realized that it was no great bargain but a pretty smart marketing ploy. Here's what I saw (the date was partially cut … (9 comments)
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America's #1 Mortgage Rates Report: June 19, 2008 - 06/19/08 04:54 PM
We're still advising all borrowers to lock all mortgage rates at application. The risk of the Fed raising rates far exceeds the opportunity for lower term rates. Watch this one minute video to understand what exactly has been happening in the mortgage markets, since May 2, 2008 and what I think … (8 comments)
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Redfin Projected To Be Profitable This Year - 06/19/08 12:45 AM
Glenn Kelman, Redin CEO, likened what Redfin is doing in real estate brokerage to what Amazon did in book retailing in a USA Today article, published earlier today. The Seattle-based company has attracted some $20 million in venture capital and projects itself to be profitable in all of the markets it … (15 comments)
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America's #1 Mortgage Rates Report: June 12, 2008 - 06/12/08 08:44 AM
Mortgage rates are headed higher. Lock all rates at application, regardless of closing date.
The trend is clear; the Fed believes it has done all it can to stave off the banking crises and is now focusing its efforts on inflation. This morning, retail sales were up and the dollar is … (6 comments)
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America's #1 Mortgage Rates Report: June 9, 2008 - 06/09/08 05:40 PM
America's mortgage rates are behaving exactly as I expected they would when I reissued my lock recommendation on May 29, 2008. What then for June, 2008 mortgage rates?
Expect more volatility. The Fed's in a weird spot. The economy is tanking under the pressure of high gas prices and the … (9 comments)
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Will Canada's Housing Market Crash? - 06/07/08 11:42 PM
Yesterday, I wrote about the possibility of a Canadian mortgage crisis akin to the American mortgage crisis. It would have been less controversial to side with the CBC decision to cancel its renewal of "Hockey Night In Canada" theme song. To my brothers and sisters in The Great North: It was … (5 comments)
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You're BUYING in Phoenix? Are You Nuts? - 06/07/08 10:05 PM
Every day is a great day to buy a single family home, even in Phoenix. That ought to rile up the analytical types here. Of course, that same principle applies to the stock market, as well.
I started my career as a “Financial Consultant” but was mentored by some fellas who … (0 comments)
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Why Are San Diego Condo Prices Dropping? - 06/07/08 12:39 AM
The San Diego condo market experienced a significant decline before the mortgage credit crunch started. In fact, San Diego was one of the markets that promulgated the credit crunch with its higher than normal foreclosure rate. On August 2, 2007, American Home Mortgage went belly-up, sparking a chain reaction of A … (7 comments)
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Guess Who's Going To Be in Orlando For the NAR Convention (but not AT the NAR Convention)? - 06/05/08 09:20 PM
Here's a wrap up video from an interview I did with Mark from BrokerIPTV.com.
The important announcemnet comes from the transcript:
BrokerIPTV: So rumor has it there is a BloodHound 2 Unchained too in the works?
Brian Brady: Absolutely, by popular demand, BloodHound will be in Florida, in Orlando in … (12 comments)
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Why Mortgage Brokers Love Countrywide - 06/02/08 08:59 PM
Countrywide isn't going under. Bank of America's going to buy them. They're a mess right now but they'll be here in 5- 6 months...and that's a good thing. It's a good thing because I love Countrywide.
Say What, Brian Brady? You hammered Countrywide, all of last year. You told people to … (10 comments)
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Mortgage Pro Week-In Review: June 1, 2008 - 06/02/08 01:27 AM
I'm honored to offer the ActiveRain community a compendium of mortgage advice from the week of May 25- June 1, 2008. I approached it a little differently than my predecessors; I tried to limit the offering to advice-based articles rather than opinion pieces. I attempted to find some of the lesser-known … (10 comments)
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Negative Amortization Loans: Relevant Now More Than Ever - 06/01/08 03:33 AM
Remember the "sleazy Option ARM advertisements"?
They're back but with a whole new twist:
This is why I never did option arms. This is part of the reason why we are in the housing mess we are in. Yes, borrowers have to claim responsibility, but every Bank that pushed neg am … (76 comments)
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