PM Rate Lock and Mortgage Market Advisory - 08/31/09 06:22 PM
Rate Lock Advice and Mortgage Market Advisory

Rate Lock Advice:  FLOATImproved midday repricing may be possible from some investors. MBS prices are up +7/32 (FNMA 30-yr 4.5 at 100.13), above 9:45 AM ET pricing of +4/32, and far above the early low of -1/32.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.01% at 5.2% on Aug.31
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.84% Down 0.067%.
10 Year Treasury currently 3.40% Down 0%
DJI stocks 9,496.28, Down -47.92, -0.5%
European … (1 comments)

Rate Lock Advice and Mortgage Market Update - 08/31/09 12:48 PM
Rate Lock Advice and Mortgage Market Advisory

August 31 , 2009, 10:40 AM PT
Rate Lock Advice:  FLOATImproved midday repricing may be possible from some investors. MBS prices are up +7/32 (FNMA 30-yr 4.5 at 100.13), above 9:45 AM ET pricing of +4/32, and far above the early low of -1/32. RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Unchanged at 5.21% on Aug.31
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.84% Down 0.067%.
10 Year Treasury currently 3.40% Down -0.06%
DJI … (5 comments)

FHA and VA Home Loans in San Diego - FHA Roof Certification - 08/28/09 03:20 PM
FHA Roof Certification
When the FHA appraiser finds evidence of moisture or missing roof shingles the finished appraisal will be conditioned upon a Roof certification from a licensed roofing contractor. 
Below are the FHA Roof and Attic Regulations as of August 28, 2009.  Current information can be found at Hud Clips
1: Roofs: The covering must prevent moisture from entering and provide reasonable future utility, durability and economy of maintenance. The appraiser must visually examine the roof to determine whether deficiencies present a health and safety hazard or do not allow for reasonable future utility. (4905.1 REV-1, 2-12.)
Life Expectancy: The … (0 comments)

Rate Lock Advice and Mortgage Market Update - 08/28/09 09:22 AM
Rate Lock Advice and Mortgage Market Advisory

August 28 , 2009, 7:00 AM PT
Rate Lock Advice:  FLOATMBS prices are down -3/32. Personal Income and Core PCE came in very close to expectations and had little immediate impact..
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.01% at 5.19% on Aug.27
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.907% Up 0.071%.
10 Year Treasury currently 3.50% Up 0.03%
DJI stocks 9,555.69, Down -24.94, -0.26%
European and Asian Markets Up 1.027%
Nymex … (1 comments)

PM Rate Lock and Mortgage Market Advisory - 08/27/09 04:54 PM
Rate Lock Advice and Mortgage Market Advisory

August 28 , 2009, 7:00 AM PT
Rate Lock Advice:  FLOATMBS prices reversed direction and came back -7/32 to -2/32. Jobless Claims and GDP came in very close to expectations.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.01% at 5.19% on Aug.27
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.837% Up 0.005%.
10 Year Treasury currently 3.450% Up 0.01%
DJI stocks closed at 9,580.63, Up 37.11, 0.39%
European and Asian Markets Down -0.641%
… (1 comments)

Rate Lock Advice and Mortgage Market Update - 08/27/09 09:30 AM
Rate Lock Advice and Mortgage Market Advisory

August 27 , 2009, 7:30  AM PT
Rate Lock Advice:  FLOATMBS prices reversed direction and came back -7/32 to -2/32. Jobless Claims and GDP came in very close to expectations.
RATE NOTES:When MBS prices are up, Rates are down.Lock advice changes throughout the day .Good economic news = Bad Rate News.
National Average Fixed Rate Mortgage Down 0.01% at 5.2% on Aug.26
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.837% Up 0.005%.
10 Year Treasury currently 3.450% Up 0.01%
DJI stocks 9,481.02, Down -62.5, -0.65%
European and Asian Markets Down -0.875%
Nymex Crude … (1 comments)

Downtown Escondido Art Walk Adds Live Music - 08/27/09 07:55 AM
Downtown Escondido Art Walk Adds Live Music August 29, The monthly 2nd Saturday Art Walk in Downtown Escondido mixes things up with the addition of Live Music.
Teen Street Recitals, feature students from Ubiquitous Music Inc, on stage at the corner of Grand & Kalmia in Downtown Escondido. This program enables Ubiquitous Music to support and promote teen musicians in our community.
Teen Street Recitals from 1:30pm till 3:30pm
Art Walk from 5:00pm till 8:00pm.
For a list of participating galleries please see: www.downtownescondido.com.
Art Walk maps can be found throughout downtown Escondido at rack locations.Don't forget to stick around for Downtown … (2 comments)

PM Rate Lock and Mortgage Market Advisory - 08/26/09 06:20 PM
Rate Lock Advice and Mortgage Market Advisory

Wednesday, August 26, 4:00 PM PT
Rate Lock Advice:  FLOATMBS prices closed up 1/32.  Durable Orders came in a little stronger than expected.  July New Home Sales rose 10% from June to an annual rate of 433K units, above the consensus forecast of 390K,  and at the highest level since September.
RATE NOTES:When MBS prices are up, yields (rates) are down.Lock advice can change throughout the day .Good economic news is Bad news for Rates.
National Average Fixed Rate Mortgage Down 0.01% at 5.2% on Aug.26
Fannie Mae Mortgage Backed SecuritiesMBS Opened at … (0 comments)

Rate Lock Advisory and Mortgage Market Update - 08/26/09 01:11 PM
Rate Lock Advice and Mortgage Market Advisory

August 26 , 2009, 11:00  AM PT
Rate Lock Advice:  FLOATMBS prices are down -2/32. Durable Orders were stronger than expected, There was little reaction in MBS markets.
RATE NOTES:When MBS prices are up, yields (rates) are down.Lock advice can change throughout the day .Good economic news is Bad news for Rates.
National Average Fixed Rate Mortgage Down 0.01% at 5.2% on Aug.26
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.831% Down 0.025%.
10 Year Treasury currently 3.440% Down -0.01%
DJI stocks 9,551.68, Up 12.39, 0.13%
European and Asian Markets Up 0.125%
Nymex … (6 comments)

Rate Lock Advisory and Mortgage Market Update - 08/25/09 07:37 PM
Rate Lock Advice and Mortgage Market Advisory

August 25 , 2009, 3:05 PM PT
Rate Lock Advice: FLOATMBS Prices closed at their high for the day for the second day in a row.
RATE NOTES:When MBS prices are up, yields (rates) are down.Rate Lock advice can change throughout the day and remember... Good economic news is Bad news for Rates.
National Average Fixed Rate Mortgage Down 0.03% at 5.21% on Aug.25
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.856% Down 0.069%.
10 Year Treasury currently 3.430% Down -0.05%
DJI stocks 9,539.29, Up 30.01, 0.32%
European and Asian Markets Up 0.161%
Nymex … (0 comments)

Rate Lock Advice and Mortgage Market Update - 08/25/09 02:16 PM
Rate Lock Advice and Mortgage Market Advisory

August 25 , 2009, 12:05 PM PT
Rate Lock Advice:  FLOATFavorable midday repricing is possible. MBS prices are up +4/32 above 9:45 et pricing of -2/32.
RATE NOTES:When MBS prices are up, yields (rates) are down.Lock advice can change throughout the day .Good economic news is Bad news for Rates.
National Average Fixed Rate Mortgage Down 0.03% at 5.21% on Aug.25
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.856% Down 0.069%.
10 Year Treasury currently 3.450% Down -0.03%
DJI stocks 95,9564, Up 54.72, 0.58%
European and Asian Markets Up 0.161%
Nymex Crude Oil currently … (1 comments)

PM Rate Lock and Mortgage Market Advisory - 08/24/09 06:28 PM
Rate Lock and Mortgage Market Advisory

August 24 , 2009,  3:00 AM PST
Rate Lock Advice:  FLOATFavorable mid day repricing occured today. MBS prices closed at their high for the day, up +18/32, above 9:45 AM ET initial pricing of -6/32.
RATE NOTES:When MBS prices are up, yields (rates) are down.Lock advice can change throughout the day .Good economic news is Bad news for Rates.
National Average Fixed Rate Mortgage UP 0.02% at 5.24% on Aug.24
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.924% Up 0.095%.
10 Year Treasury currently 3.480% Down -0.08%
DJI stocks 9,509.28, Up 3.32, 0.03%
European … (0 comments)

Rate Lock Advisory and Mortgage Market Update - 08/24/09 01:32 PM
RATE LOCK ADVISORY
August 24 , 2009,  11:30 AM PST
Rate Lock Advice:  FLOATFavorable midmorning repricing is possible from investors that priced early . MBS prices are up +10/32, above 9:45 AM ET initial pricing of -6/32. If you received pricing before 10:00 AM ET, then you have a chance of improved pricing.
RATE NOTES:When MBS prices are up, yields (rates) are down.Lock advice can change throughout the day .Good economic news is Bad news for Rates.
National Average Fixed Rate Mortgage UP 0.02% at 5.24% on Aug.24
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.924% Up 0.095%.
10 Year Treasury … (7 comments)

Rate Lock Advisory - 08/21/09 01:14 PM
RATE LOCK ADVISORY
August 21 , 2009,  11:00 AM PST
Rate Lock Advice:  LOCKMBS prices are down -16/32, far below 9:45 AM ET initial lender pricing of unchanged. Unfavorable repricing has already occured and may be a risk again.
Stronger than expected Existing Home Sales data hurt MBS markets.
RATE NOTESWhen MBS prices are up, yields (rates) are down.Lock advice can change throughout the day .Good economic news is Bad news for Rates.
National Average Fixed Rate Mortgage Unchanged at 5.21% on Aug.21
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.829% Down 0.047%.
10 Year Treasury currently 3.550% Up 0.13%
DJI … (2 comments)

PM Rate Lock Advisory - 08/20/09 07:03 PM
RATE LOCK ADVISORY
August 20 , 2009,  2:45 PM PST
Rate Lock Advice:  FLOATUS markets for MBS closed 4/32 above their 9:45 AM ET intitial lender pricing and on their high for the day. Jobless Claims came in higher than expected.
When MBS prices are up, yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Down 0.01% at 5.21% on Aug.20
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.877% Up 0.03%.
10 Year Treasury currently 3.430% Down -0.02%
DJI stocks 9,350.05, Up 70.89, 0.76%
European and Asian Markets Up 1.466%
Nymex Crude … (1 comments)

Rate Lock Advisory - 08/20/09 11:26 AM
RATE LOCK ADVISORY
August 20 , 2009,  9:22 PM PST
Rate Lock Advice:  FLOATMBS prices are up +1/32 after Jobless Claims came in higher than expected.
When MBS prices are up, yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Unchanged at 5.22% on Aug.20
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.877% Up 0.03%.
10 Year Treasury currently 3.470% Up 0.02%
DJI stocks 9,313.92, Up 34.76, 0.37%
European and Asian Markets Up 1.466%
Nymex Crude Oil currently $73.08 Down $0.44
This morning MBS prices began with small losses, but moved higher after Claims … (2 comments)

VA Loans in Oceanside - 08/20/09 10:35 AM
VA Home Loans in Oceanside
Bill Ladewig: My Experience is Your Advantage
FHA and VA Specialist since 1970 FHA and VA Lender Consultant FHA and VA Mortgage Trainer FHA 203k Rehabilitation Loan Expert Certified CalVet Loan Officer Bill has been in the mortgage industry since 1970 as a loan originator, branch manager, Mortgage Company Owner, Mortgage Consultant and Instructor.
During this time he has originated and closed several thousand home loans and Hundreds of loan officers and real estate agents have attended his mortgage classes.
Bill also publishes a free Rate Lock Advisory every morning. The Adviser arrives before 7:00 … (0 comments)

VA Home Loans in Escondido - 08/20/09 10:28 AM
VA Home Loans in Escondido
Bill Ladewig: My Experience is Your Advantage
FHA and VA Specialist since 1970 FHA and VA Lender Consultant FHA and VA Mortgage Trainer FHA 203k Rehabilitation Loan Expert Certified CalVet Loan Officer Bill has been in the mortgage industry since 1970 as a loan originator, branch manager, Mortgage Company Owner, Mortgage Consultant and Instructor.
During this time he has originated and closed several thousand home loans and Hundreds of loan officers and real estate agents have attended his mortgage classes.
Bill also publishes a free Rate Lock Advisory every morning. The Adviser arrives before 7:00 AM … (0 comments)

PM Rate Lock Advisory - 08/19/09 05:15 PM
RATE LOCK ADVISORY
August 19 , 2009,  3:00 PM PST
Rate Lock Advice:  FLOATMBS prices closed up +9/32, even with the 9:45 AM ET pricing, and well below the morning high of +14/32. Unfavorable repricing had been seen.
When MBS prices are up, yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Down 0.01% at 5.22% on Aug.19
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.846% Up 0.003%.
10 Year Treasury currently 3.450% Down -0.06%
DJI stocks 9,279.16, Up 61.22, 0.66%
European and Asian Markets Down -0.636%
Nymex Crude Oil currently $73.53 … (1 comments)

Rate Lock Advisory - 08/19/09 10:36 AM
RATE LOCK ADVISORY
August 19 , 2009,  8:30 AM PST
Rate Lock Advice:  FLOATLock Advice: Float. MBS prices are up +10/32. Should be a quiet day as there is no economic data will be released today.
When MBS prices are up, yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Unchanged at 5.23% on Aug.18
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.846% Up 0.003%.
10 Year Treasury currently 3.440% Down -0.07%
DJI stocks 9,205.02, Down -12.92, -0.14%
European and Asian Markets Down -0.587%
Nymex Crude Oil currently $72.46 Up $0.05
Weakness … (5 comments)

FHA Home Loans in Poway - 08/19/09 07:58 AM
FHA Home Loans in Poway
Bill Ladewig: My Experience is Your Advantage
FHA and VA Specialist since 1970 FHA and VA Lender Consultant FHA and VA Mortgage Trainer FHA 203k Rehabilitation Loan Expert Certified CalVet Loan Officer Bill has been in the mortgage industry since 1970 as a home loan originator, branch manager, Mortgage Company Owner, Mortgage Consultant and Instructor.
During this time he has originated and closed several thousand home loans and Hundreds of loan officers and real estate agents have attended his mortgage classes.
Bill also publishes a free home loan Rate Lock Advisory every morning. The Adviser arrives … (0 comments)

PM Rate Lock Advisory - 08/18/09 03:25 PM
RATE LOCK ADVISORY
August 18 , 2009,  1:20 PM PST
Rate Lock Advice:  LOCKUS Financial markets are closed at 4:00 PM ET.  Unfavorable repricing resulted today when MBS prices dropped  -11/32 below the 9:45 AM ET initial lender pricing of -1/32.
When MBS prices are up, yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Unchanged at 5.23% on Aug.18
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.843% Up 0.011%.
10 Year Treasury currently 3.510% Up 0.03%
DJI stocks 9,217.94, Up 82.6, 0.9%
European and Asian Markets Up 0.898%
Nymex Crude Oil … (0 comments)

Rate Lock Advisory - 08/18/09 12:17 PM
RATE LOCK ADVISORY
August 18 , 2009,  10:00 AM PST
Lock Advice: LOCKUnfavorable repricing may be a risk from some investors. MBS prices are down -7/32 below 9:45 AM ET initial lender pricing of -1/32. Many investors probably priced at lower levels today, reducing the risk.When MBS prices are up, yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Unchanged at 5.23% on Aug.18
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.843% Up 0.011%.
10 Year Treasury currently 3.50% Up 0.02%
DJI stocks 9,213.11, Up 77.77, 0.85%
European and Asian Markets Up … (0 comments)

Bill Ladewig - 08/17/09 06:54 PM
Bill Ladewig, the FHA Guru
I just had a humbling experience.  I was checking the source of hits on my website and found that someone had performed a Bing search for "Ladewig".  Hopefully the searcher was not the IRS.  The search hit my site so I was "found" and I excitedly thought I would be right on top of the Ladewig list. 
But NOooo, I was in oblivion on page 8 way below a bunch of Ladewigs I had never heard of.  Ladewig is not that common of a name; where did they all come from?
To make matters worse my younger sister Carol Ladewig the beautiful … (10 comments)

Rate Lock Advisory - 08/17/09 11:20 AM
RATE LOCK ADVISORYAugust 17 , 2009,  9:00 AM PST
Rate Lock Advice:  FLOAT MBS prices are up +8/32. The Empire State index was stronger than expected.
When MBS prices are up yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Down 0.05% at 5.24% on Aug.17
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.832% Down 0.107%.
10 Year Treasury currently 3.480% Down -0.07%
DJI stocks 9,163.75, Down -157.65, -1.69%
European and Asian Markets Down -2.794%
Nymex Crude Oil currently $68.89 Down $1.82
This morning's stock market decline has boosted MBS prices this morning. The … (0 comments)

$8000 Tax Credit for First Time Buyers - 08/16/09 06:45 PM
$8000 Tax Credit for First Time Buyers
Warning: Do Not Wait... The Tax Credit expires November 30, 2009
The credit is available to homebuyers who purchase a home before December 1 of this year.  In an effort to make the effects of the credit felt quickly in the economy, homebuyers can claim the credit on their 2009 tax return.
The tax credit represents 10 percent of the purchase price of a home up to a maximum of $8,000 or $4,000 for married taxpayers filing separate returns.   The $7,500 credit that was authorized under earlier legislation last year was actually a 15 year … (19 comments)

Rancho Bernardo Real Estate and Rancho Bernardo Homes for Sale - 08/15/09 08:06 PM
Rancho Bernardo Real Estate and Rancho Bernardo Homes for Sale

Rancho Bernardo is a San Diego community nestled in the North San Diego County foothills, established in 1962 by the San Diego City Council, and it has since grown to about 17,000 homes, covering over 7000 acres. Rancho Bernardo is a beautiful master-planned community of residential, light industry, shopping, parks and golf courses - a "52-week vacation-land", located off Interstate 15 in North San Diego County.   More than 40,000 residents make Rancho Bernardo their home. One of the top master-planned communities in the Country, Rancho Bernardo is well known for … (3 comments)

Rate Lock Advisory - 08/14/09 09:16 AM
RATE LOCK ADVISORY
August 14 , 2009,  6:30 AM PST
Rate Lock Advice:  FLOATFrom unchanged levels, MBS prices are up +5/32 after the CPI inflation data matched expectations
When MBS prices are up yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage UP 0.02% at 5.37% on Aug.13
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.939% Down 0.145%.
10 Year Treasury currently 3.570% Down -0.02%
DJI stocks 9,367.58, Down -30.61, -0.33%
European and Asian Markets Up 0.19%
Nymex Crude Oil currently $73.55 Up $0.29
Today's economic data all came in very close to … (1 comments)

PM Rate Lock Advisory - 08/13/09 05:52 PM
RATE LOCK ADVISORY
August 13, 2009 3:30 PM PT
Rate Lock Advice:  FLOATMBS Prices closed on their high for the day up 17/32 (FNMA 30-yr 4.5 ), 12/32 above  the 9:45 AM ET initial lender pricing of +5/32. Strong demand for the 30-yr auction lifted MBS markets.
When MBS prices are up yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage UP 0.02% at 5.37% on Aug.13
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 5.084% Up 0.067%.
10 Year Treasury currently 3.60% Down -0.12%
DJI stocks Closed at 9,398.19, Up 36.58, 0.39%
… (1 comments)

Rate Lock Advisory - 08/13/09 08:38 AM
RATE LOCK ADVISORY
August 13 , 2009,  6:30  AM PST
Rate Lock Advice:  FLOATMBS prices are now up +5/32, from down -6/32 before the release of today's weaker than expected economic data.
When MBS prices are up yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage UP 0.05% at 5.35% on Aug.12
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 5.084% Up 0.067%.
10 Year Treasury currently 3.680% Down -0.04%
DJI stocks 9,371.74, Up 10.13, 0.11%
European and Asian Markets Up 1.28%
Nymex Crude Oil currently $73.54 Up $0.47 
Today, Retail Sales, Import … (0 comments)

Rate Lock Advisory - 08/12/09 09:10 AM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage

RATE LOCK ADVISORY
August 12 , 2009,  7:09  AM PST
Rate Lock Advice:  LOCKUnfavorable repricing is a risk. MBS prices are down -3/32 below the recent high of +4/32. The stock market is rising and MBS markets are falling ahead of the Fed meeting.
When MBS prices are up yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Down 0.05% at … (2 comments)

Rate Lock Advisory - 08/11/09 03:32 PM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage

RATE LOCK ADVISORY
August 11 , 2009,  1:15  PM PST
Rate Lock Advice:  FLOATMBS AM prices reached a high of 10/32 and currently are up +11/32.   Second Qtr Productivity showed an increase of 6.4%, above the consensus forecast of 5.5% but there was little immediate impact.
When MBS prices are up, yields (rates) are down.
NOTE: Lock advice can change throughout the day .
National Average Fixed Rate Mortgage Down … (0 comments)

Bill Ladewig's AM Market Brief - 08/11/09 10:21 AM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage

RATE LOCK ADVISORY
August 11 , 2009,  8:00  AM PST
Rate Lock Advice:  FLOATMBS AM prices are up +10/32. This AM, 2 Qtr Productivity showed an increase of 6.4%, above the consensus forecast of 5.5% but there was little immediate impact.
When MBS prices are up yields (rates) are down.
NOTE: Lock advice can change throughout the day.  click for updates.
National Average Fixed Rate Mortgage UP 0.04% at 5.35% … (0 comments)

Bill Ladewig's AM Market Brief - 08/10/09 02:24 PM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage

RATE LOCK ADVISORY
August 10 , 2009,  12:20  PM PST
Rate Lock Advice:  FLOATFavorable midday repricing is occuring. MBS prices are up +17/32, above the 9:45 et pricing level of +5/32, and at the high for the day.  Investors are buying bonds ahead of this week's Treasury auctions.
Remember, when MBS prices are up Yields (rates) are down.
Today will be a light day for economic news ahead of a … (1 comments)

FHA Buy and Bail Rule - 08/08/09 02:59 PM
FHA Buy and Bail Rule

Because of the recent increase in homeowners purchasing another home and claiming they will rent their existing home then allowing the existing home to go into foreclosure; a new term has emerged "Buy and Bail" To halt Buy and Bail fraud FHA and Fannie Mae have enacted new rules.
CONVERTING AN EXISTING HOME TO A RENTALFHA now requires buyers who are legitimately purchasing a home and converting their existing home to a rental either qualify for both loans or have 25% equity in their present home.  Fannie Mae previously instituted their own Buy and Bail rule.
EXCEPTION:Relocations: … (17 comments)

FHA Allowable Closing Costs 2009 - 08/08/09 10:57 AM
Allowable FHA Closing costs 2009

Important: Much of the FHA home loan information found online today is outdated. Most aspects of FHA Loans have remained the same over the years, however there have been changes to the FHA closing cost policy. Many of these outdated articles claim there are FHA closing costs the buyer cannot pay, besides the Tax Service fee this is not true anymore..
Forward Mortgage Allowable FHA Closing Costs
 In 2006 FHA discontinued itemized allowable and non-allowable fees.  Lenders can now collect from the borrower those customary and reasonable fha closing costs necessary to close the mortgage.
However, borrowers … (0 comments)

Rate Lock Advisory - 08/08/09 08:39 AM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage

RATE LOCK ADVISORY
August 7 , 2009,  11:25 AM PST
Rate Lock Advice:  FLOAT with CautionGood Day for Stocks - Bad for RatesThe current MBS price is -19/32 and the market seems to have stablized after MBS prices were down this morning as low as -27/32 after the Employment report came in stronger than expected. NOTE: Lock advice can change throughout the day click for updates
Mortgage Market
National Average … (0 comments)

Rate Lock Advisory - 08/07/09 01:30 PM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage


RATE LOCK ADVISORY
August 7 , 2009,  11:25 AM PST
Rate Lock Advice:  FLOAT with CautionGood Day for Stocks - Bad for RatesThe current MBS price is -19/32 and the market seems to have stablized after MBS prices were down this morning as low as -27/32 after the Employment report came in stronger than expected. NOTE: Lock advice can change throughout the day click for updates
Mortgage Market
National … (3 comments)

Room in a Luxury Resort for only $19 - 08/07/09 11:48 AM
I found this article in the San Diego Union this morning and it gave me a chuckle so I thought I would share.
San Diego Union: The Rancho Bernardo Inn, a luxury resort with three pools, two restaurants, a spa and a golf course, is offering rooms this summer for as little as $19 a night.
There's just one catch. The room comes without pillows, sheets, towels, toiletries - or a bed... or light bulbs
From Aug. 16 to 31, the Rancho Bernardo Inn is offering steep discounts to customers willing to bring their own toilet paper and sleep on the … (7 comments)

Seven Oaks, Rancho Bernardo, 92128 - 08/06/09 09:41 PM
Seven Oaks, Rancho Bernardo, CA 92128.

Seven Oaks is the original community when Rancho Bernardo's development first began back in the 1960's.  Today it is a thriving adult community (55+) in the center of Rancho Bernardo. 
Seven Oaks, Rancho Bernardo is conveniently located right off the 15 Freeway within minutes of San Diego's Lindburg Air Field.
 
 
 
The beautiful Seven Oaks community Center includes an large Auditorium, Olympic size Pool, Wood Shop, Library, Shuffle Board, and numerous meeting and activity rooms.
The Seven Oaks Community Center hosts an active calendar of community events and activities. 
Club Membership is included with … (0 comments)

Rate Lock Advisory - 08/06/09 11:20 AM
RATE LOCK ADVISORY
August 6 , 2009, 9:00 AM PST
Rate Lock Advice:  FLOAT     Currently Fannie Mae 30 Yr 4.5 MBS is Down 2/32      At 9:45 AM ET when most lenders first set their daily rates MBS prices had dropped as low as 8/32 as Jobless Claims came in lower than expected.       Since 9:45 MBS prices have reversed and have moved up 7/32 which could cause favorable repricing.     Remember yield and bond prices have an inverse relationship.  As prices move up yield move down and rates move with yield.
National Average Fixed Rate Mortgage Unchanged today at 5.32%
Fannie Mae … (0 comments)

Rate Lock Advisory - 08/05/09 04:27 PM
RATE LOCK ADVISORY
August 5 , 2009, 1:30 PM PST
Rate Lock Advice:  LOCK      FNMA MBS 30-yr 4.5 prices are down -15/32 above the 9:45 AM ET pricing level of -16/32.  MBS prices reached a high of +2/32 during the middle of the session.        During today's volatile session the Rate Lock Advisory suggested first favorable and later unfavorable repricing. July ISM Services came in at 46.4, below the consensus forecast of 48.0. On light summer volume, MBS markets posted a strong rally on the news. When the momentum stalled, however, FNMA MBS 30-yr 4.5 prices dropped all the way back to the … (0 comments)

Taylor, Bean & Whitaker - More Bad News - 08/05/09 01:23 PM
Taylor, Bean & Whitaker - More Bad News
We heard yesterday that Taylor, Bean & Whitaker had been suspended but most of us were not sure what would happen to loans that had been submitted to TBW and not yet funded. 
The bad news is that Taylor, Bean & Whitaker will not be able to fund the loans remaining in their pipeline.
Taylor, Bean & Whitaker is a major player and this is bad news for many borrowers currently being processed and bad news for the industry.
Below is the press release.
TAYLOR BEAN MUST CEASE ALL ORIGINATION OPERATIONS EFFECTIVE IMMEDIATETLY
OCALA,  … (8 comments)

Rate Lock Advisory - 08/05/09 12:42 PM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage

 RATE LOCK ADVISORY
August 5 , 2009, 7:10 AM PST
The Rate Lock Advisory  suggests: FLOAT Earlier this morning MBS prices were down -14/32 ahead of today's economic data and Treasury announcement.   They have since improved since 9:45 AM ET when lenders set their morning rates. MBS Prices down means that yields are up.
National Average Fixed Rate Mortgage Unchanged at 5.28% on Aug.4
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 5.038% … (0 comments)

Taylor, Bean & Whitaker suspended by FHA - 08/04/09 05:24 PM
Taylor, Bean & Whitaker suspended by FHA
This is bad new for mortgage brokers as TB&W has been a good source for FHA loans.  I am sure there are many such as I that hope they obtain a positive resolution.
Below is a portion of AP news release.
MIAMI - A prominent U.S. mortgage company is being investigated by the Housing and Urban Development Department after allegedly failing to submit a required financial report, raising concerns of fraud.
The Federal Housing Administration on Tuesday suspended Taylor, Bean & Whitaker Mortgage Corp. from originating new FHA-insured mortgages, HUD said in a news … (14 comments)

Rate Lock Advisory - 08/04/09 03:18 PM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage


RATE LOCK ADVISORY
August 4 , 2009, 1:10 PM PST
Rate Lock Advice:  LOCKUnfavorable repricing is a risk. MBS yields are above lenders initial 9:45 AM ET pricing of . Pending Home Sales came in stronger than expected, pushing MBS yields higher.
National Average Fixed Rate Mortgage Unchanged at 5.28% on Aug. 4
Fannie Mae Mortgage Backed SecuritiesMBS Opened at 4.927% Up 0.076%.
10 Year Treasury currently 3.680% Up … (2 comments)

Cal-Vet Home Loans - 08/04/09 02:37 PM
Cal-Vet home loans are designed for California Veterans.Cal-Vet home loans are actually a land contract and title to the home is retained by Cal-Vet until the loan has been paid in full. Because they are a land contract and they take from 60 to 90 days to close, they are not for everyone but Cal-Vet will make loans on mobile home in parks which can be a large plus.Something else to keep in mind is the property must remain owner-occupied for the duration of the Cal-Vet loan. If the veteran moves from the property without refinancing Cal-Vet can call the loan … (3 comments)

Bill Ladewig's AM Market Brief - 08/04/09 09:12 AM
San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage

August 4 , 2009, 7:45 AM PST
National Average Fixed Rate Mortgage  Up 0.01% August 3 at 5.28%
Fannie Mae Mortgage Backed Securities MBS Opened Down 0.076% at 4.927%
10 Year Treasury currently 3.660% Down 0%  Lock Advice:  LOCKUnfavorable repricing is a risk. MBS yields are above lenders initial 9:45 AM ET pricing. Pending Home Sales came in stronger than expected, pushing MBS Yields higher.
DJI stocks 9,285.28,Down -1.28, -0.01%
European … (2 comments)

Avoid the Dreaded HVCC - 08/03/09 03:47 PM
Avoid the Dreaded HVCC
On May 1, the Home Valuation Code of Conduct (HVCC) went in to effect.  HVCC does not allow mortgage brokers or realtors to choose the appraiser or to have any contact with the appraiser.
Lately stories abound about how this program is causing low appraisals from out of the area appraisers without a clue to local market conditions but there is HOPE.
Across the country there are hundreds of local appraisers ready, even eagar, to appraise your purchase transactions who will bring their appraisals in at fair market value.
These are FHA appraisers.
FHA loans are exempt from HVCC and FHA appraisals … (3 comments)

Bill Ladewig's AM Market Brief - 08/03/09 08:37 AM
August 3 , 2009, 6:30 AM PST
National Average Fixed Rate Mortgage  Unchanged July 31 at 5.29%
Fannie Mae Mortgage Backed Securities MBS Opened Down 0.065% at 4.850%
10 Year Treasury currently 3.560% Up 0.04%  Lock Advice: LOCK Unfavorable lender repricing is a risk. MBS prices are down -16/32 (FNMA 30-yr 4.5 at 100.04), below 9:45 et pricing of -8/32. Stronger than expected ISM and Construction data pushed MBS markets lower.  MBS Price and Yield have an inverse relationship.  Lower prices mean higher yields.
DJI stocks 9,241.29, Up 69.68, 0.76%
European and Asian Markets Up 0.931%
Nymex Crude Oil currently $72.88 Up … (2 comments)

 
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Bill Ladewig Your FHA Guru - FHA and VA Loans Since 1970

Escondido, CA

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Address: San Diego, Escondido, Vista, San Marcos, Oceanside, Rancho Bernardo, Poway, Scripps Ranch, Penasquitos, Shadowridge, Rancho Del Oro, Escondido, CA, 92025

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